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EU-IMF Funding Not Big Enough

  • 06-02-2011 11:18pm
    #1
    ei.sdraob
    Closed Accounts Posts: 9,376 ✭✭✭


    Hmm seems we are not actually funded fully for the 3 years even if the optimistic targets are met :eek:

    This should be an election issue, especially considering all parties are already planning to spend money we dont have be it on creating new state bank (Labour) or bailout of negative equiters (FG)


Comments

  • #2
    Anonymous1987
    Closed Accounts Posts: 784 ✭✭✭Anonymous1987


    I believe initially there was a feeling among the IMF/EU to encourage Ireland to return to the markets promptly however I thought this was based on drawing down lower interest parts of the bailout first in the hope that the more expensive parts would not have to be drawn down given a calming in market rates which seems hopeless right now. In addition the IMF/EU were sceptical of the Irish projections so you'd think they would incorporate this into the bailout.


  • #3
    Scofflaw
    Registered Users, Registered Users 2 Posts: 23,283 ✭✭✭✭Scofflaw


    I have to admit I was puzzled by this every time I looked at the bond maturity profile for the next few years. I kept getting €38bn in deficit and €24bn in maturing debt - slightly less than Whelan's €68.7bn, and closer to the government's figure. Still, neither figure is €50bn.

    More numbers that don't quite add up.

    cordially,
    Scofflaw


  • #4
    later12
    Closed Accounts Posts: 11,299 ✭✭✭✭later12


    We are expected to raise money through the sale of Treasury Bills ourselves.

    The Greeks have already done that, and continue to raise such funds themselves. There's no reason why ireland wouldn't be expected to do the same. We will still draw debt but it won't be through the sale of long term sovereign paper.

    http://www.eubusiness.com/news-eu/greece-finance.841/


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