I bet everyone that got excited by Europe winning the Ryder Cup feels pretty ashamed of themselves now.
The IRA needs to stand up again.
Some terrific Paddy bashing in store in the daily mail tomorrow.
Are you a Fianna Fail in sheeps clothing or what, the one thing Moan and Nono have going for them is that they are NOT FF, if you can provide me with an alternative I will listen
They’re both full of shit. FG and Labour have gone out of their way to avoid taking a political risk in the depths of the greatest crisis in the history of the state. Zero leadership. I’m not going to pretend otherwise.
We know that but at this stage anything is better than FF
The real interest rate is 7.25%
Everyone expected a number between 5% and 6.7% on the Irish rescue interest rate. However, when one considers that the NPRF, which will serve as a source of capital in the rescue package has a zero interest rate (Ireland will not be paying interest to itself), and amounts to 20% of the total bailout figure, it appears that the blended rate of new money is actually 7.25%. From politics.ie: “Presumably the pensions reserve funds are at 0%, as its already our money. They form about 20% of the total amount. If one fifth of the amount is at zero percent, and the average is 5.8% - what is the interest on the rest of the money? I calculate 7.25%”
Fuck all difference
There is a massive difference, they are not FF
Have any of the vast array of Irish economists commented on this yet?
I would hope to jaysus they’re not including the PRF rate of zero to average the borrowing rate, otherwise it’s the worst deal in economic history.
I have to say I’m quite amused at the notion that we can bail ourselves out by using the National Pension Reserve Fund - our own money.
But of course I fundamentally misunderstand the siituation. It’s a master plan.
well as I understand it we cant but we just did
embarassing few days for the tfk intelligensia - a quater of a trillion at 6.7% is actually 67billion at the much better 5.8%
:lol:
It seems so.
From what I’m reading the IMF have said their loans start at 3.12% raising to 4% later on. They are providing 1/3 (I think) of the foreign money of 67.5billion. So god knows what the EU have charged on their part - up around 8 or 9% it looks like to me.
An exclusively IMF funded bailout would actually have been a much better deal.
The Brits are charging 6% on their £3.2bn according to channel 4 news.
Two things
What if we have to go back for more ???
Does this have to be passed by dail eireann ???
Doesn’t have to be passed by the Dáil.
I presume we just roll over again if we need to go back for more.
What would the interest rates be like then, Jesus we are totally fucked anyway, god help anyone with a mortgage their interest rates will go up in year, we are financial unstable as I understand it and definitely politically unstable
Given the reported percentage rates, would it be right to say the EU seem to have rode us up a stick?