Irish govt in the shitter?

[mashman]

"
The Irish government has effectively nationalized the nation's biggest banks by guaranteeing their debt, which would be akin to the U.S. government taking over Citigroup, Bank of America, J.P. Morgan Chase and Wells Fargo.
(http://finance.yahoo.com/news/Why-the-Irish-Crisis-is-Going-usnews-4028366968.html?x=0)

That means the Irish government is also on the hook for the losses those banks endure--which have risen far beyond initial estimates, and may have a lot farther to go. So far, the Irish government is obligated to cover losses amounting to 175 percent of Irish GDP, which is becoming an unsustainable burden. "If the Irish banks go down, the Irish government also goes down," says economist Jacob Kirkegaard of the Peterson Institute for International Economics.
"

[avgas]

yep beginning of the end.
good thing they have potatoes to eat.

[mashman]

yep beginning of the end.
good thing they have potatoes to eat.

Well, the south will :shifty:

[Mully]

Well, diddily fooken dee.

[Banditbandit]

So much for the "Irish Tiger" economy ...

[avgas]

So much for the "Irish Tiger" economy ...
Yep. big hairy pussy doesn't sound as good though.

[mashman]

Yep. big hairy pussy doesn't sound as good though.

Doesn't that depend on which angle you're looking at it from :shifty:

[Pascal]

"If the Irish banks go down, the Irish government also goes down," says economist Jacob Kirkegaard of the Peterson Institute for International Economics."

Time to put it on TradeMe. Kiwiblog sausage sizzle to raise funds for buying a country?

[mashman]

Time to put it on TradeMe. Kiwiblog sausage sizzle to raise funds for buying a country?

:killingme

[avgas]

Doesn't that depend on which angle you're looking at it from :shifty:
Irish
No money

We are clearly looking at the big depression. of the giant hairy pussy

[mashman]

Irish
No money

We are clearly looking at the big depression. of the giant hairy pussy

Bit like tipping money into a hairy black hole? for want of a better expression :shifty:

[oldrider]

If every country in the world is in debt, to whom is the debt owed and why? :weird:

I remember the Social Credit party being lampooned as the "funny money" party because they warned of this pending situation. (and offered a solution)

What could be more funny than the predicament the "smart money" world finds it's self embroiled in today?

Funny money eh! :facepalm:

[avgas]

But don't worry guys. NZ govt will have all our debt cleared by 2016.











Yeah Right!

[aprilia_RS250]

Good graphic explaining the web of debt in Europe

http://www.nytimes.com/interactive/2010/05/02/weekinreview/02marsh.html?ref=global

[mashman]

If every country in the world is in debt, to whom is the debt owed and why? :weird:

What could be more funny than the predicament the "smart money" world finds it's self embroiled in today?

:facepalm:

:psst::not:

[puddytat]

Tis a shame that the Social Credit Party were way ahead of thier time & that we dont have an equivalent today....
the Catholic church should step in and bail them out, what with all the tithes ther've been paying :yes:
Father Ted for PM....

[Pussy]

Wasn't that long ago the Helen Clark was blowing sunshine up the Irish's arses....