National Debt figure

Paddy001

I have seen alot of figures being thrown around for the countries debts such as the billions in the banks, deficits, bond holders and now this 85bn IMF loan. How much do we actually owe now excluding interest and how much will we owe? Finding it hard to find total figures on this. Vincent Browne the other night estimated €240Bn by 2014, where is this coming from? Thanks for any help

Seth Brundle

What does it matter tbh? Whatever it is, we can barely afford the interest payments never mind the original amount.

Dannyboy83

Existing National Debt of circa €92billion;
Bailout debt to be incurred over the next 3 years €85billion
Bonds falling due to be paid by Ireland in next 3 years €23billion
ECB funding put into our banks circa €100billion
Irish Central Bank money put into our banks in the last 2 weeks after the ECB said no more circa €30billion.

Circa €340billion .

The total average interest rate for that is ~6.4-6.7%
Which is between 14-18 billion a year.

Red Actor

Dannyboy83 wrote: »

Existing National Debt of circa €92billion;
Bailout debt to be incurred over the next 3 years €85billion
Bonds falling due to be paid by Ireland in next 3 years €23billion
ECB funding put into our banks circa €100billion
Irish Central Bank money put into our banks in the last 2 weeks after the ECB said no more circa €30billion.

Circa €340billion .

The total average interest rate for that is ~6.4-6.7%
Which is between 14-18 billion a year.

Surely this is already included in the present debt figure of 92.
Around 80 bn to be added to national debt in the next four years - some think it'll be less as we'll spend the 20bn or so that we have in cash but that bit of fat will proably be eaten up by the optimist growth figures. 1.75% next year when the govt are going to cut 6bn or over 3% means that no cuts would lead to 5% growth.

Now... figuring out what the banks owe and lumping it on the taxpayers is a different matter.