Posted on 11/28/2010 12:31:53 PM PST by Nachum
Brussels - EU nations agreed an euro85 billion ($113 billion) bailout deal for Ireland on Sunday to help the debt-struck country with its banking crisis, and sketched out new rules for future emergencies in an effort to restore faith in the euro currency. According to a statement by the Irish government, the country will take euro10 billion immediately to boost the capital reserves of its banks. Another euro25 billion earmarked for the banks will remain in reserve. The Irish government's public finances will receive euro50 billion
(Excerpt) Read more at news.yahoo.com ...
$18,234 for every man, woman, and child in Ireland.
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Didja know California was offering bonds over the radio not long ago (here in NYC)?
I guess taxing authorities, in the age of the police state, are pretty good bets.
What’s the next domino to fall? Portugal? Spain?
They are saying Portugal next, then Spain shortly after. They the EU has run out of bailout cash. They are all in serious doo doo.
I guess we could just jump ahead and ask ourselves who is going to bail out the EU.
Ah, the joys of socialism. As Margaret Thatcher once said ‘socialism is wonderful until you run out of other peoples money’. Guess what; they’re all running out of each others money, which is dependent on future cash flows to pay down enormous debts that probably can’t be met, hence the slow but sure implosion. Social unrest will occur and then .... hold on to your seats, it ain’t going to be pretty. And the U.S. is headed down the same path; give it a minimum of 10 years, probably 20, before our wheels fall off. Socialism; it’s a wonnerful ting.
Episodes like this only prove time and time again that conservatives are right on the issues.
Bankrupt, bloated indebted nanny states serve nobody but the bureaucrats that manage them.
In the US, we have our own version of Greece and Ireland: it is called California.
The US government is over-leveraged and nobody is going to bail us out.
High taxes and the selling of our national assets to foreigners are coming to a theater near you.
Europe’s debt problem has gone from bad to worse
http://www.americanthinker.com/blog/2010/11/eurpes_debt_problem_has_gone_f.html
I am Irish, and very sad. When billions of Euro poured into state coffers in Ireland as result of the property boom, fueled by cheap interest rates from Europe, the Government massively increased State welfare, employment and pay (using an utterly corrupt benchmarking programme). I thought to myself about that ‘ignorant, stupid, moronic’ Governor Sarah Palin and what she did when on rising oil prices, billions poured into the coffers of Alaska. She cut the budget and put the money into massive savings accounts!!!
i thought what a terrible pity we did not have someone as ‘stupid’ as that running Ireland over the last numbers of years.
113 Billion ?
What kind of puny bailout is that?
Is that even news?
That’s not even enough for Bernanke to quantitatively ease. Why even bother.
I am not Irish, but have always liked and admired the Irish. It is a sad thing to see.
Another bailout for the bankers at the expense of the public.
One day, people are going to snap and bankers will be hunted like rabid dogs .... and dealt with in exactly the same manner when caught.
If anyone thinks were are better off here in ObamaVille then they are delusional.
Idiots who watch TV in America are brainwashed sheep. California is gonna start blowing up in 2011 and the GOP House will be put in a position to have to bail them out.
This term “bailout” is such BS. There is no bailout.
This is a positive thing! The United States has been struggling when compared to the European Union. It just goes to show you that socialism and handouts aren’t necessarily the best idea for sustaining infrastructure.
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