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Pension Fund, could we take it back out?

  • 28-11-2010 9:13pm
    #1
    zig
    Registered Users, Registered Users 2 Posts: 1,206 ✭✭✭


    Todays news has sickened me more than any news since this whole ordeal started 2 years ago, the EU has forced our incompetent government to use our own pension fund to bail out our banks (thus European banks).
    This leaves us in a horrible situation , we cant even look at the idea of defaulting now, as that fund would have been our only thing to ease the pain of it.

    My question, hypothetically, could we take it back out, if all of a sudden a party like Sinn Fein got into power and proposed a default, could that money that would have been put into banks be just simply taken back off them?


Comments

  • #2
    Dotsie~tmp
    Registered Users, Registered Users 2 Posts: 1,433 ✭✭✭Dotsie~tmp


    Well with a mandate anything i suppose is possible. But we are a small country and dont underestimate the discomfort they can make us feel. The EU is not a cuddley big family. This is serious business.


  • #3
    Noreen1
    Closed Accounts Posts: 1,654 ✭✭✭Noreen1


    I doubt we could renege on the deal at this stage, unfortunately.:mad:

    Personally, I'm absolutely livid! We have been well and truly tied into absolute dependence on this bailout fund IMO. Not only that, but our ability to use that fund to help our economy grow has been effectively stymied.

    I can't see how we could have gotten a worse deal!

    Noreen


  • #4
    hmmm
    Registered Users, Registered Users 2 Posts: 11,205 ✭✭✭✭hmmm


    You don't borrow money on the credit card and use it to invest. This idea of having a NPRF while we are borrowing was always stupid, of course it was going to be used.


  • #5
    Fentdog84
    Registered Users, Registered Users 2 Posts: 936 ✭✭✭Fentdog84


    It would be interesting to know if Lenihan & Cowens pension will be affected in this deal.. But the deal in laymans term is basically this.. You spend whatever assets and reserve funds you have, when that all is used up, then come crawling.. some deal


  • #6
    zig
    Registered Users, Registered Users 2 Posts: 1,206 ✭✭✭zig


    Fentdog84 wrote: »
    It would be interesting to know if Lenihan & Cowens pension will be affected in this deal.. But the deal in laymans term is basically this.. You spend whatever assets and reserve funds you have, when that all is used up, then come crawling.. some deal
    pretty much, it leaves us 100% reliant on external aid from here on in.


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