Advertisement
If you have a new account but are having problems posting or verifying your account, please email us on hello@boards.ie for help. Thanks :)
Hello all! Please ensure that you are posting a new thread or question in the appropriate forum. The Feedback forum is overwhelmed with questions that are having to be moved elsewhere. If you need help to verify your account contact hello@boards.ie
Help Keep Boards Alive. Support us by going ad free today. See here: https://subscriptions.boards.ie/

Ireland is the next Iceland, no ... its the next Greece!?

  • 29-04-2010 12:19PM
    #1
    Registered Users, Registered Users 2 Posts: 2,462 ✭✭✭


    First we were told we'd be the next Iceland, now we could be the next Greece.

    We need to be more optimistic

    Heard an international news report that listed Spain Portugal and Italy as other basket cases but not us yet


Comments

  • Closed Accounts Posts: 9,182 ✭✭✭dvpower


    First we were told we'd be the next Iceland, now we could be the next Greece.

    We need to be more optimistic

    Heard an international news report that listed Spain Portugal and Italy as other basket cases but not us yet

    Weren't the original PIGS Portugal, Italy, Greece and Spain with some people renaming it PIIGS to include us or substituting us for Italy.

    I saw an article in the Guardian predicting that the current crisis was about to spread to the UK, so I guess that a lot has got to do with perception.


  • Registered Users, Registered Users 2 Posts: 1,582 ✭✭✭WalterMitty


    First we were told we'd be the next Iceland, now we could be the next Greece.

    We need to be more optimistic

    Heard an international news report that listed Spain Portugal and Italy as other basket cases but not us yet
    Sometimes we arent mentioned due to our small size and periheral nature. Theres also a perception that the gov are doing the right thing in terms of cutting deficit . I wonder do most international commentators realise the corrupt nature of our gov's relationship with the likes of Anglo and developers.


  • Registered Users, Registered Users 2 Posts: 19,044 ✭✭✭✭murphaph


    Optimistic? We are borrowing 20bn a year to pay social welfare and public sector wages. Until both these costs are tackled properly, I remain distinctly pessimistic!


  • Closed Accounts Posts: 9,364 ✭✭✭ei.sdraob


    First we were told we'd be the next Iceland, now we could be the next Greece.

    We need to be more optimistic

    Heard an international news report that listed Spain Portugal and Italy as other basket cases but not us yet

    ahem ahem

    2e6c4ya.jpg

    14bqe1k.jpg


  • Registered Users, Registered Users 2 Posts: 7,476 ✭✭✭ardmacha


    The above global risk table seems a bit suspect

    Ireland UK

    current a/c -2% -2%
    gov balance -12% -14%
    gov debt 64% 75%
    private credit 194% 222%


    rank 7 29

    it suggests potential GDP growth is higher in the UK, which I very much doubt given Ireland's younger population profile.


  • Advertisement
  • Closed Accounts Posts: 1,729 ✭✭✭alex73


    2009 figures... yesterdays news. Ireland did not cook the books, its bad but not as bad as greece. Lot to be said about Irelands openness and 3 budgets that cut expendature.


  • Closed Accounts Posts: 9,364 ✭✭✭ei.sdraob


    ardmacha wrote: »
    The above global risk table seems a bit suspect

    2009 :(
    alex73 wrote: »
    Ireland did not cook the books

    its doing a good job now of ensuing some of Anglos mess doesnt appear on the books, thats cooking :(



    alex73 wrote: »
    3 budgets that cut expendature.

    2010 expenditure is already on its way to hit a record, despite all the cuts, and before even adding the cost of banking cleanup (which will be somewhat hidden of the books)

    All of last budgets "gains" have been wiped out already


  • Closed Accounts Posts: 4,124 ✭✭✭Amhran Nua


    Heard an international news report that listed Spain Portugal and Italy as other basket cases but not us yet
    The markets rate countries on the basis of the risk of loans not being repaid among other things. Our positive performance in that regard has a lot to do with FF shifting bank debt onto the backs of taxpayers. Good for the markets, very bad for the people of Ireland. Its also not a trick you can pull off for long, since ultimately these debts will have to be repaid, which will affect sovereign debt. The markets are gambling that the Irish taxpayer will just sit there and take it.

    Who knows, perhaps they are right.


Advertisement