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

UCD and ESB €325 million

  • 18-11-2011 9:57am
    #1
    Duke Fame
    Closed Accounts Posts: 63 ✭✭


    I see that UCD has decided to borrow €90 million to fund the building of six new buildings on the Belfield campus. I first thought was great, but how do they plan on repaying it? We had students on the streets this week about the introduction of fees and the colleges saying they must be reintroduced. While I can see how the ESB can repay a loan.

    Is the goverment now allowing the likes of UCD and ESB borrow money directly from europe as it will not show up on the books when we meet the IMF/EU?


Comments

  • #2
    Godge
    Closed Accounts Posts: 21,727 ✭✭✭✭Godge


    Duke Fame wrote: »
    I see that UCD has decided to borrow €90 million to fund the building of six new buildings on the Belfield campus. I first thought was great, but how do they plan on repaying it? We had students on the streets this week about the introduction of fees and the colleges saying they must be reintroduced. While I can see how the ESB can repay a loan.

    Is the goverment now allowing the likes of UCD and ESB borrow money directly from europe as it will not show up on the books when we meet the IMF/EU?

    They could always borrow money separately and I don't think it ever featured on the national debt.


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


    Godge wrote: »
    They could always borrow money separately and I don't think it ever featured on the national debt.

    Yes - they're private institutions in receipt of government funding, not part of the government.

    cordially,
    Scofflaw


  • #4
    nesf
    Registered Users, Registered Users 2 Posts: 27,644 ✭✭✭✭nesf


    As others have said, they're independent entities and don't count towards national debt calculations. UCC has fairly major dept from what I remember but it doesn't mean the State is considered to owe it.


  • #5
    WalterMitty
    Registered Users, Registered Users 2 Posts: 1,582 ✭✭✭WalterMitty


    but if they get into financial problems like trinity with their pension fund the taxpayer has to bail them out.


  • #6
    Duke Fame
    Closed Accounts Posts: 63 ✭✭Duke Fame


    Im still at a loss to understand how UCD will repay
    the loans. Two years ago they had a deficit of 10 million
    euro. If they default I expect the Government will be picking
    up the tab.

    I dont see any commercial activities within UCD capable
    of servicing the debt and if it is to be paid out of existing
    college funding this will have a direct impact on front line
    services.


  • Advertisement
  • #7
    saa
    Registered Users, Registered Users 2 Posts: 2,194 ✭✭✭saa


    More buildings? going into a time where I believe we will see the numbers of young people going to third level education greatly decrease.


Advertisement