Who exactly are we borrowing from??

Bubba HoTep

according to RTE we have to borrow 20 billion this year alone

the U.S., and most other countries in the E.U. are to borrow also to stay afloat

and most of these countries are bailing out banks, like Ireland

so........

in this "world reccession" who exactly are we borrowing this money from??

InReality

Its a good question.

I don't know the exact answer but I'd imagine it would be China or maybe some gulf states.

This would not be directly from their govt but via some financial "instruments" in the stock market.

Hope somebody with more knowledge replies.

colrow

Its all a Ponzi scheme !!!

robtri

might help explain it a bit....

http://en.wikipedia.org/wiki/Government_debt

Économiste Monétaire

From the March '09 bond issuance:

Gu3rr1lla

From the ECB with interest. We the people could print our own money through the government and debt free but instead we are in hoc to the central banks.

eoinbn

From anyone. A large % of it is government bonds that pay a good return that anyone can buy. These can be foreign governments, investment companies or private citizens.

the_syco

Gu3rr1lla wrote: »

We the people could print our own money through the government debt freep

Eh... if we printed our own money, it'd devalue the money we do have.

Having 25 cents to buy an apple may seem less than have €405,000 to buy an apple, but as it's only to buy an apple, it means that €405,000 of our money is then equal to 25cents of everyone elses.

Économiste Monétaire

For a relative view of a long-term bond issued April last year.

jimmmy

As all European goverments are in debt borrowing, I would love to know how much is owed - net to institution outside the EC. I believe the oil producing nations + China are the ones lending most of the world money. Does'nt the USA owe something like 13,000,000,000,000.00 dollars from memory ( 13 trillion ) ?

Nothingbetter2d

welcome to zimbabwe, err i mean ireland lol