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
Hi there,
There is an issue with role permissions that is being worked on at the moment.
If you are having trouble with access or permissions on regional forums please post here to get access: https://www.boards.ie/discussion/2058365403/you-do-not-have-permission-for-that#latest

Has anything really changed?

  • 30-11-2010 1:20pm
    #1
    thebaldsoprano
    Closed Accounts Posts: 827 ✭✭✭


    The last few years saw an unsustainable rise in living standards fuelled by cheap credit. Now that the tap has been turned off, some people are paying the price with large pay cuts, job insecurity and job losses. Others though are relying on cosy deals with the Government to keep as much of the old setup in place as they can. One good thing to come out of IMF intervention would have been to take a hard look at these arrangements, dismantling them where necessary. This'd mean a better deal for taxpayers and public services mightn't need to be cut as severely. What looks to be happening though is that these old arrangements are still being protected.

    Banks got their bailout, developers got NAMA, PS unions got their deal and taxpayers got the bill.

    Has anything really changed?


Comments

  • #2
    Permabear
    Closed Accounts Posts: 39,022 ✭✭✭✭Permabear


    This post has been deleted.


  • #3
    SkepticOne
    Closed Accounts Posts: 6,718 ✭✭✭SkepticOne


    thebaldsoprano wrote: »
    The last few years saw an unsustainable rise in living standards fuelled by cheap credit. Now that the tap has been turned off, some people are paying the price with large pay cuts, job insecurity and job losses. Others though are relying on cosy deals with the Government to keep as much of the old setup in place as they can. One good thing to come out of IMF intervention would have been to take a hard look at these arrangements, dismantling them where necessary. This'd mean a better deal for taxpayers and public services mightn't need to be cut as severely. What looks to be happening though is that these old arrangements are still being protected.

    Banks got their bailout, developers got NAMA, PS unions got their deal and taxpayers got the bill.

    Has anything really changed?
    Yes I think the depressing thing about it is that it is basically more of the same. It is kind of like I had thought it was going to be a few months ago although more recently I had hoped that there would be some of the burden placed on bondholders. The situation with the bond holders, though, was more dictated by the EU than the IMF.


  • #4
    Bob_Latchford
    Registered Users, Registered Users 2 Posts: 399 ✭✭Bob_Latchford


    donegalfella wrote: »
    This post has been deleted.

    Do you have figures for total banking debt the government has taken on, read somewhere it is also 50bn?


Advertisement