Bailing out Ireland

rondetto

This is something my daughter has mentioned to me.I don't often talk politics but in the light of all the cut backs and people losing benefits I think this is a valid point. I don't think it's right in this present climate to bail out Ireland with 7.5 billion pounds?
One minute we're told that the cupboard is bare and we have radical cut backs resulting in mass
redundancies. The next we are lending/giving away seven and half thousand millions pounds.
It amounts to £15.000 for every person living in Ireland. Of course it's a "loan" but If they're in a pickle now
I cant see how they can ever afford to pay it back.
Who next? Portugal, Spain.

janie68

The problem is that our stupid banks will lose billions of pounds if Ireland were to go bankrupt and then the merrygo round of us lending money to them again would begin. But as we are lending them money anyway via EU, it's a valid point. Unless we are charging them huge amounts of interest & makes us some money??

Janie :?

barbara12

Absolute madness..we are not even in the Euro and here we are having to bail them out, but like Janie say if we dont, then we could go down anyway...heads you lose tails you lose
Barbara x

rondetto

Sorry I don't agree. It's up to Brussels to take chance. There's Portugal and Spain also waiting to be bailed out.
It's probably the best thing the old government ever did was to keep out of the EEC single currency.

Seven thousand million pounds could be better spent here in the UK. Then maybe we wouldn't have to lose jobs and benefits.

janie68

No i don't agree with it either, as long as we make some money from it ourselves though....

What about us giving millions to other countries too? I'm sure they wouldn't do it for us if the tables were turned

Janie

rondetto

You're right Janie, they wouldn't. They would expect only the countries involved in the single currency to donate.

lupin15

GGGGGGGGGGGGRRRRRRRRRRRRRRRr we are not even in the European currency.. I am sure we have just had to agree a huge increase that we pay into???? Take the money out of that. I do understand that it will effect us but i am sooooo pissed off with us bailing everyone out. Who is going to bail us out then??????

barbara12

Charity should begin at home...but like you say Ron were is this money coming from :roll:
Barbara x

rondetto

Well Babs, considering the cupboard was empty when Cameron and Clegg took over. It's got to be from us, from people who are losing their jobs, people whi are losing their benefits.
One thing is for sure, even though they call it a loan. It'll never be paid back in our lifetime ......If ever.

mellman01

What gets me is George Osborne use to bang on about how great Irelands economic boom was when it was all based on massive borrowing and EU cash, it’s a bloody joke to be honest same goes for Greece Spain etc, even here Brown borrowed 300 million and made a load of admin none jobs and hey presto a boom, we didn’t make F all but it was a boom just like if you throw a gallon of petrol on an fire, there was NEVER any real chance that an economic boom would last as none of the money was ours in the first place and none of it was invested in good long lasting business as we don’t like making things to sell, everyone is to important for that they like sitting in offices all day ordering peasants about as there “professionals”.
The way things are going the very people who did this made billions knowing full well that went it went down the tubes it would be them who get paid to sort out their mess, it’s like me breaking into a house steeling all the valuables then being asked by the Police paying you to go and see the owner to tell him what was the problem in the first place and you get to keep all his stuff result!.
What gets me is the very free market capitalists who have happily pigged out all these years on the carcases of the slaughtered old state industries so hated by Thatcher and her ilk and who always kept reminding us that death was a much better fate than being nationalised are now stuffing their pockets full of state cash without one an ounce of embarrassment yet there very system was a seriously flawed yet nothing has been done to rectify the faults.
And who can forget the Thatcher mantra/buzz words they so liked to brow beat us down with, you know the kind of thing, blame globalisation and market forces for the reason were shutting you down and floating the industry on the free market economy.
They asset stripped the things we paid for and gave us unemployment and the fear of the sack to keep us under their control and now we are again going to pay while again they and their mates get fat on the cream.
Why don't they they let "market forces" take their course as they did with steel coal shipping etc, it's a false system otherwise and as Thatcher once said "you can't cheat the free market", the truth will out, banking is to big an indusrty these day's we had all our eggs in one basket and this is the mess it made when the eggs were dropped.

rondetto

Very true, the trade within the EEC is a joke. We import more than any other country in Europe. Exports are minimal, to give or lend any amount in the present climate when we are in the state we are is criminal. They're playing with our money, these multi millionaires couldn't care less as long as it's not their own money they're risking.

mellman01

The thing is the system is false, economically the so called capitalist system is worse and no better than the nationalised model, throwing money at it is all well and good but unless we can trade our way out of this it will just buy time.
We are in deep poo have been for years and were weaker now than before, we are getting to the point where a large number of families wont be able to actually earn enough to live yet prices are still going up when they should be going down, well they would if we exported rather than import.
We had billions in oil money and that was squandered gas was the same, Thatcher sold off all our silver at scrap values we now don’t control our water electric generation and distribution network or even our fuel importation storage and distribution, India owns our steel and same for our car industry yet we still think we are in charge of the world when in fact the gang we’re in has no influence in the world industrial school yard, we are exposed and bankrupt in all but name and borrowing more and more each week, we need good leaders better than the ones we have, all they want to do is throw borrowed money around while they fill their expenses accounts while quaffing civil service Champagne paid for with more borrowed money, but hey don’t worry the bill is in your name so they wont be out of pocket.
Those with money bank of shore so they don't have to worry and if you have a lot of cash if the country goes down the tubes you just move somewhere warmer, they have no loyalty.

lupin15

I must admit there is something to be said for us eating so much food that is comes in from outside UK. I will be the first one to admit that i do it but what would happen if we could only get food grown in UK? Having to buy seasonal vegs and fruit form local growers??? Buying meat that is from UK only? I know Morrison and i am sure others do but maybe that would be the way forward.
It would be good for the environment and surely help the country. We use to make clothes cars etc. Maybe stopping imported cars would help owe industry. Maybe just maybe some hard choices need to be made. I am sure my hubby would go nuts because he couldn't get the car he wants but wouldn't it be better for jobs etc??? I don't know i am but a simple person with simple ideas but i am sure some of these would work.
When we lived in Germany we could only buy veg and fruit that was seasonal (OK that was over 10 years ago) the choice of fruit was apples oranges, kiwi fruit, melon, bananas and pears...i think grapes as well. Fruit did come up from spain but that was it. The choice of veg was not that big either but how is the germany economy going????? We could go around and around talking about this but at the end of the day the GOVERNMENT that we voted for has to sort this out....God help us all.

mirabella

I just knew that we could count on you Mellman,so,so true.I could not wait to get on here today to read your post,as I knew you would have something to say about this rediculous promise to Ireland.Such a farce,so,so not right,and we are doing children in NEED,from our own pockets,when in fact we should not even have to go there at all,should already be in place for these kids,thats what us as tax payers should be paying for.God we live in such a complicated world. Mirabella

tonesp

Sorry I can't agree we must bail Ireland out They are a major trading partner They send us a couple of packs of Kerrygold,a bit of beef and a few bottlashtout.We apparntly export £3000 worth of goods per head of the population Not good for us to let them fail 8)

livinglegend

Now you know why your ESA and DLA have been cut so hard and a rise in British VAT (Not: it's EU's VAT). To bail out a failing foreign currency.

The Irish government are currently running at a debt of about £20bn per DAY. The £85bn EU 'gift' will last for just 4 days, so by this time on Friday it will all be gone.

In about a years time, unless something is done, the Irish government's debt will be £7,000bn. No country can stand a debt of that amount. The European Central Bank also can't afford to prop up the failing Irish, Greek, Spanish and Portuguese governments as well as supporting the Eastern Europe debt.

The Euro inevitably has to be devalued to its proper level or fail; even though Germany and France won't want that to happen to their precious currency as they would rather kick Ireland out of the Euro. Britain's politicians will pay out your money to prevent Euro devaluation, rather than take care of our own disadvantaged or disabled people.

Joseph

rondetto

The trade gap between Ireland and the UK is immense. Because they are an Island they rely on imports from the nearest mainland of course. But that doesn't give them a right to be bailed out just because their government cant do their sums.
Who next?