The two of them will have a pint later. Ppress conference pushed back to 6:30 now.
Three different rates apparently. 4% from the IMF, 5% from the European Financial tupidity Fund and 6% from the EU.
George Osborne is supposed to have been fighting Ireland’s corner to get as low a rate as possible. Noble George Osborne. :unsure:
I knew this would happen if we voted Yes to Lisbon.
Arent Osbournes people Irish Sid? Think I heard that during the week. The British fighting our corner, shur they’ve always had our best interests at heart.
If only we’d voted no…
€3.8 billion from the Brits. Good old Brits.
So the Pension Reserve Fund is being put up as money for the banks to use 
Farewell National Pension Reserve Fund. Pat Rabbitte knew the score on this one.
50 billion for exchequer spending
10 billion immediate bank recapitalisation
25 billion for bank contingency fund
Half of the 35 billion from the National Pension Reserve Fund
Not even for collateral. Gone.
Interest rate not as bad as feared but still seriously high. We’ll have to get a handle on the public finances pronto. There loads of areas where there could be cuts without anyone getting hurt if the fuckers would just take a proper look.
“We need a fully functioning banking system”
“Ireland needs to be at the heart of europe”
“We are fully funded until the middle of next year”
Seán Whelan is a weak Economics Correspondent. Weak.
4.9 billion a year interest.
Is that Sean “Green Jersey” Whelan?
That’s not correct, I’m sorry but that’s a contingency fund, which we can draw down when and where we need it. Rargle rargle rargle going forward rargle rargle rargle rargle share the pain rargle rargle rargle rargle.
There’s no reason to think that that contingency fund will be needed. But it does show that our European partners have stood four square behind Ireland when we needed them most.
That’s the reality.
George Osborne is an alright sort.
Sweden and Denmark. We thank you.