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How much do we owe?

  • 01-10-2010 5:54pm
    #1
    johngalway
    Closed Accounts Posts: 10,271 ✭✭✭✭


    Just wondering. The Republic of Ireland, how much money do we owe at the present time?


Comments

  • #2
    johndaman66
    Registered Users, Registered Users 2 Posts: 4,099 ✭✭✭johndaman66


    Maybe something like the below link is what you are looking for? Quite scary actually looking at that figure and the rate at which it seems to be increasing.

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


  • #3
    johngalway
    Closed Accounts Posts: 10,271 ✭✭✭✭johngalway


    That's a relief, for a minute there I thought it was going to be a lot.


    :eek:


  • #4
    ei.sdraob
    Closed Accounts Posts: 9,376 ✭✭✭ei.sdraob


    Good thread, lets try to get a clear picture by posting figures and backing them up with links/facts as much as possible!



    National Debt -89.56 billion money already borrowed as of today

    Above will not be changing until next year since NTMA are afraid of going to the markets now...

    * That doesnt include NAMA losses
    * It doesnt include any further recapitalisation of the banks (few more billion before end of this year)
    * It doesnt include the IOUs issued to Anglo which they can cash at any moment
    * It doesnt include any future pension & healthcare obligations etc etc


    do remember that alot of our debt and obligations is kept off official figures via accounting trickery, they tried to pull that on NAMA but EU wouldnt have any of it


    tl:dr

    there is a difference between how much we already owe and how much we could owe if various entities we promised money come knocking on the door, for example the whole banking and nama mess is expected to cost about 90 billion over next decade or so we already had to borrow some money to throw at the banks, but alot of it at this point of time in is in IOUs which likes of Anglo can come knocking with and asking us for money (which we will have to raise on markets once the reserves run out)


  • #5
    Nolanger
    Closed Accounts Posts: 4,556 ✭✭✭Nolanger


    If you paid back a €1 coin every second. It would take 2,840 years!


  • #6
    Geuze
    Registered Users, Registered Users 2 Posts: 14,041 ✭✭✭✭Geuze


    Please distinguish between the Govt debt and other debts.

    The National Debt at end August 2010:

    87,236 million euro.

    Source: www.ntma.ie


    As a nation, all the household and frims here owe 1.74 trillion. See the CSO data below:

    http://www.cso.ie/releasespublications/documents/economy/current/externaldebt.pdf


    A lot of that is IFSC activity.


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  • #7
    johngalway
    Closed Accounts Posts: 10,271 ✭✭✭✭johngalway


    Apologies, I meant the National Debt.


  • #8
    Geuze
    Registered Users, Registered Users 2 Posts: 14,041 ✭✭✭✭Geuze


    Ah, no, I wasn't giving out or anything like that.


    This year, although the Govt will borrow heavily, 15bn+, that nation as a whole will be broadly in balance.


    National income = national expenditure (roughly)

    The households /firms will save much more than they invest, so there is a surplus of savings. The Govt is a borrower.


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