Irish govt in the shitter?

**mashman** · 18th November 2010, 13:05

"
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.

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** · 18th November 2010, 13:18

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

**mashman** · 18th November 2010, 13:22

Originally Posted by avgas

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

Well, the south will

**Mully** · 18th November 2010, 13:31

Well, diddily fooken dee.

**Banditbandit** · 18th November 2010, 13:31

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

**avgas** · 18th November 2010, 13:40

Originally Posted by Banditbandit

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

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

**mashman** · 18th November 2010, 13:46

Originally Posted by avgas

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

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

**Pascal** · 18th November 2010, 13:50

Originally Posted by mashman

"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** · 18th November 2010, 14:34

Originally Posted by Pascal

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

**avgas** · 18th November 2010, 14:42

Originally Posted by mashman

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

Irish
No money

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

**mashman** · 18th November 2010, 14:52

Originally Posted by avgas

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

**oldrider** · 19th November 2010, 06:59

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

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!