New No1

We finally did it, were now the most indebted country in the world, just 1305% of GDP, or around €400.000 each in debt.
Happy days!

Do we bow to the pressures of the IMF and let them bail us out..... and run the country (nice 50% income tax stylee!)?
Get the germans in, and take a handout from the EU (lose the low corporation tax so all the PLC's leave us)?
Stick with it and see what the story is later?

i think either way we are all gonna be in the sh1t for a long while yet!!

It is scary stuff alright, just listened to the news and how the uk may offer some form of financial assistance didn't realise the level of exports to Eire was so high. Really will be a ripple effect. Not good whatever way you look at it.

There wont be a ripple, more of a tusnami......!
UK banks alone have lent STG£83 billion to Irish householders, the bank bailout has topped that number and the EU have again asked for the government to 'be open' about the actual loan book, ie your not telling us how bad it actually is!

Nice little link here to see the debt clock in action:

http://www.financedublin.com/debtclock.php

I don't know how many jam rolls(Poles) you have in Ireland but £20,000,000 per week goes out of the GB every week to Poland without the other Eastern block cuntry's. That is why there is no spare cash about and the fish stocks are dwindling. The swans have dissappeared from a lot of towns and the Hres are all gone from the country side/

So if you want to get out of debt vote for a party who will get you out of Europe!

I dont know about our eu neighbours but the financial problems in ireland and the rest of the world would seem to have more to do with te amount we borrowed with no hope of ever paying it back ? Reaping what we have sown
The celtic tiger is now a mangey old puss a pretty close to extinction .

Its easy to point a finger at the migrant workers and pretty hypocritical when yu consider te irish have infested half the plannet ! Maybe we should ,as a nation , stop living beyond our means ?

I blame it on the idiots that took out 100% morgages on one bedroom "luxury apartments" for 350k! like my old place, and someone bought it! SUCKERS

Iceland and it's banking sector crashed big time. They criminally convicted their Finance Minister and started from scratch again. They were in the crapper last year but are now experiencing a good level of growth. Might be worth looking at alternative ways rathering than borrowing more again.

Was watching McWilliams the other night and he was saying it really doesnt matter a jot if we default as we're so in the crap already moneywise. The lenders are severely cautious right now of borrowing to us so what's the difference in the long term.

Lots and lots of good ideas being brought up in the last few days but none are seemingly being taken aboard by the Government. Even Noonan's idea that Nama create the bottom of the housing market by selling the ridiculous amount of properties on their books at firesale prices. It'll create a base point from which the market can work off. Everybody is holding off buying houses as there is no market floor at the moment so everyone is just thinking 'hang on another bit, it might go down some more'. Create that floor with the NAMA housing, prices will then begin to solidify and we'll have a market once again. Simply idea but no, Brian knows better, knob.

Paul C. wrote:

, Brian knows better, knob.

pmsl, good one