€9 billion in interest to be paid next year.

donegal__road

Reason Im posting this in AH is that it gets more traffic, and I think this needs to be be made known.

Richard Boyd Barret spoke in the Dail last month and I just heard the tail end of it on RTE radio 1 news. I found the clip on his website later, and listened again, so I could reconfirm my disbelief that we are to pay €9 billion in interest to the ECB next year.

My questions are, is this payable? It is almost the equivalent to the last 3 budgets added together.
Why is this not being talked about more? I is the first and last I have heard of it.

*he mentions the €9 billion @ approx 2:20

https://www.youtube.com/watch?v=86-cG3B09DY

slippy wicket

I wouldn't believe anything that SWP sock came out with.

Almost as dangerous in a different way as those freeman gowls.

Belief does not equal truth.

BNMC

Interesting.

zarquon

donegal__road wrote: »

My questions are, is this payable? It is almost the equivalent to the last 3 budgets added together.

I stopped reading there. Too many pseudo financial experts floating about that really have no grasp of the actual economy.

Sir Humphrey Appleby

How can you argue that 9 billion is larger than the last three budgets??? It is less than half the annual SW spend alone.
Typical loonie leftie scaremongering.

dxhound2005

donegal__road wrote: »

Reason Im posting this in AH is that it gets more traffic, and I think this needs to be be made known.

Richard Boyd Barret spoke in the Dail last month and I just heard the tail end of it on RTE radio 1 news. I found the clip on his website later, and listened again, so I could reconfirm my disbelief that we are to pay €9 billion in interest to the ECB next year.

My questions are, is this payable? It is almost the equivalent to the last 3 budgets added together.
Why is this not being talked about more? I is the first and last I have heard of it.

*he mentions the €9 billion @ approx 2:20

https://www.youtube.com/watch?v=86-cG3B09DY

Your grasp on economics is even more dodgy than his. And what is this meant to mean? I is the first and last I have heard of it.

dotsman

donegal__road wrote: »

Reason Im posting this in AH is that it gets more traffic, and I think this needs to be be made known.

Richard Boyd Barret spoke in the Dail last month and I just heard the tail end of it on RTE radio 1 news. I found the clip on his website later, and listened again, so I could reconfirm my disbelief that we are to pay €9 billion in interest to the ECB next year.

My questions are, is this payable? It is almost the equivalent to the last 3 budgets added together.
Why is this not being talked about more? I is the first and last I have heard of it.

*he mentions the €9 billion @ approx 2:20

As previously mentioned, from your post, it is clear your understanding of national economics is as flawed as that of that gob****e you linked to.

But more than that, do you realise that the "bank bailout" is only a small percentage of our national debt and constantly getting smaller? The majority of our debt (and increasingly growing) is to pay for current expenditure (public sector/welfare etc).

zarquon

dotsman wrote: »

As previously mentioned, from your post, it is clear your understanding of national economics is as flawed as that of that gob****e you linked to.

But more than that, do you realise that the "bank bailout" is only a small percentage of our national debt and constantly getting smaller? The majority of our debt (and increasingly growing) is to pay for current expenditure (public sector/welfare etc).

Careful, the lefties and crusties don't want people to know that their welfare payments are a bigger cause to the national debt than the banks.

donegal__road

Im genuinely sorry I bothered. Thanks all..

cletus van damme

dotsman wrote: »

As previously mentioned, from your post, it is clear your understanding of national economics is as flawed as that of that gob****e you linked to.

But more than that, do you realise that the "bank bailout" is only a small percentage of our national debt and constantly getting smaller? The majority of our debt (and increasingly growing) is to pay for current expenditure (public sector/welfare etc).

yes the OP made a bags of his point.

But you are a mad fellow.

no matter how small (and it's not small) or smaller the bank debt is getting. It's still not our debt and is currently denying the chance for that money to be spent on other (think better ) things.

I am working to pay this and I've defaulted on fcuk all....

There are people losing health services for this.
That's what is outrageous.

yes of course there is other stuff to fix. But this should not be one.

Then what is really fcuking galling is people - who think "no big deal...looney lefties...nothing to see here".

ossacidoq7641

@donegal__road... Hi Pierce, how are things up in Donegal. Love these Sinn Fein threads.

donvito99

Nine zero zero zero zero zero zero zero zero zero.

That's a lot of zeros.

zarquon

cletus van damme wrote: »

There are people losing health services for this.
That's what is outrageous.

yes of course there is other stuff to fix. Butrthis should not be one.

Then what is really fcuking galling is people - who think "no big deal...looney lefties...nothing to see here".

So bank debt should not be ours but its okay for welfare induced debt to be ladened on everyone too??

Sir Humphrey Appleby

cletus van damme wrote: »

There are people losing health services for this.
That's what is outrageous.

At the height of the boom people were losing out on health services and there was no bailout then.
The real reason the health services is in shíte is that it is a bureaucracy designed to cater for the needs of its greedy and overpaid staff, as opposed to catering for the needs of the sick.

Valetta

cletus van damme wrote: »

no matter how small (and it's not small) or smaller the bank debt is getting. It's still not our debt and is currently denying the chance for that money to be spent on other (think better ) things.

".

It is our debt.

emo72

dotsman wrote: »

is as flawed as that of that gob****e you linked to.

.

I'd hardly refer to Barrett as a gob****e. he always seems to come across well.

why are socialists derided so much? Is their philosophy so abhorrent?

Fr_Dougal

donegal__road wrote: »

Reason Im posting this in AH is that it gets more traffic, and I think this needs to be be made known

http://www.boards.ie/vbulletin/showpost.php?p=63135899&postcount=8

cletus van damme

zarquon wrote: »

So bank debt should not be ours but its okay for welfare induced debt to be ladened on everyone too??

yes - we have a duty to care for those on welfare (assuming they have a need for it which in fairness most do)
I fully believe in welfare (along with universal health and education - up to a 1st undergrad degree for all. But let s fight that another day)

Bah Feckin Humbug! wrote: »

At the height of the boom people were losing out on health services and there was no bailout then.
The real reason the health services is in shíte is that it is a bureaucracy designed to cater for the needs of its greedy and overpaid staff, as opposed to catering for the needs of the sick.

the above are state services (i.e. the peoples debt) I mightn't like it but I'm ok with paying that off. Ideally I'd like a lot of state services cleaned up but I don't mind paying for them to help the people. all the people.

Valetta wrote: »

It is our debt.

It's company debt - privately owned that was foisted onto the people.
Did they give us their profits...did they fcuk!! We are paying off the loan agreements between private individuals and companies with state taxes...get the fcuk if you think that is in anyway the right way to do things.

It is not the state debt and they acceptance of it was criminal - in the moral sense .

evolving_doors

zarquon wrote: »

So bank debt should not be ours but its okay for welfare induced debt to be ladened on everyone too??

of course bank debt shouldnt be ours...its the BANK's debt...do you love paying off some speculators champagne tab our something...ill get this one for ya bass , keep yer hand in yer pocket...(tugging the forelock)..

If someone looses their job do you tell them to just sit on a compost heap and rot, what the heck was all that prsi they paid for? Is this india we're living in now.

Valetta

cletus van damme wrote: »

yes - we have a duty to care for those on welfare (assuming they have a need for it which in fairness most do)
I fully believe in welfare (along with universal health and education - up to a 1st undergrad degree for all. But let s fight that another day)



the above are state services (i.e. the peoples debt) I mightn't like it but I'm ok with paying that off. Ideally I'd like a lot of state services cleaned up but I don't mind paying for them to help the people. all the people.




It's company debt - privately owned that was foisted onto the people.
Did they give us their profits...did they fcuk!! We are paying off the loan agreements between private individuals and companies with state taxes...get the fcuk if you think that is in anyway the right way to do things.

It is not the state debt and they acceptance of it was criminal - in the moral sense .

Not sure if you know what you're talking about.

All the bank debts have been paid.

btard

donegal__road wrote: »

Im genuinely sorry I bothered. Thanks all..

You were wasting your time trying to educate these people. They are beyond help. They deserve everything they get and their grandchildren too.

Sir Humphrey Appleby

btard wrote: »

You were wasting your time trying to educate these people. They are beyond help. They deserve everything they get and their grandchildren too.

Posting a leftie rant along with highly incorrect figures does not equate to education.

cletus van damme

Valetta wrote: »

Not sure if you know what you're talking about.

All the bank debts have been paid.

enlighten me

. we paid bank debts with money from the troika - which we are now paying off.
so we are paying for the debts of the bank.

so what I miss?

Boombastic

I was talking to a couple of foreigners earlier about Ireland. They really couldn't understand why the Irish aren't protesting at their treatment. Sure how could I explain it to them that we're afraid to protest in case the neighbours seen us.

emo72

cletus van damme wrote: »

enlighten me

. we paid bank debts with money from the troika - which we are now paying off.
so we are paying for the debts of the bank.

so what I miss?

haha, did you miss that? its all payed back. we're free. stop yer moaning and go spend. elections coming up next year, everything is great. look up there, its another corner! would you go on outta that ya mad leftie bastid:D

kalych

Guys, very negative start to the tread. The OP clearly meant budget adjustments of 9 billion in 3 years, rather than actual budgets. Why all the hate? I also would like to know when and how much is the Government is planning on borrowing from international markets to cover this shortfall and how much of it will result in more cuts. Based on this I will decide how to invest my savings and other financial matters, as I will clearly be affected in the next budget. Let's try not to dismiss posters outright and if not interested just not post in the thread.

emo72

donegal__road wrote: »

Im genuinely sorry I bothered. Thanks all..

dont worry mate. theres plenty of people of the same opinion. i meet them everyday. hold on to your principles and dont let anyone on here sway you.

people wouldnt so mean and snipey in real life, its just the way some people act from the anonymity of a screen.

donegal__road

kalych wrote: »

Guys, very negative start to the tread. The OP clearly meant budget adjustments of 9 billion in 3 years, rather than actual budgets. Why all the hate? I also would like to know when and how much is the Government is planning on borrowing from international markets to cover this shortfall and how much of it will result in more cuts. Based on this I will decide how to invest my savings and other financial matters, as I will clearly be affected in the next budget. Let's try not to dismiss posters outright and if not interested just not post in the thread.

thanks kalych, I didn't articulate that point very well in the first post. I felt like I was back in the school-yard after reading the first seven or eight replies.

darkpagandeath

zarquon wrote: »

Careful, the lefties and crusties don't want people to know that their welfare payments are a bigger cause to the national debt than the banks.

Pensions are the biggest spend in SW budget not dole or JSA

diomed

I'm thankful Richard Boyd Barrett isn't running anything. A little knowledge is a dangerous thing.
The same comment applies to Ming and the trendy one from Waterford.

emo72

diomed wrote: »

I'm thankful Richard Boyd Barrett isn't running anything. A little knowledge is a dangerous thing.
The same comment applies to Ming and the trendy one from Waterford.

i think you're safe. all he can do is shine a spotlight and highlight stuff. i wish we had more like him in power. im in the minority here, i know that.:(

Sir Humphrey Appleby

emo72 wrote: »

i think you're safe. all he can do is shine a spotlight and highlight stuff. i wish we had more like him in power. im in the minority here, i know that.:(

Thank fúck the likes of RBB are few.
Apart from anything else he is an obnoxious hypocrite.

emo72

I find him to be the opposite of obnoxious. But I have never met him. So I can't verify that. Have you met him?

Victor

donegal__road wrote: »

I found the clip on his website later,

I'm sure he will be grateful for this part political broadcast.

we are to pay €9 billion in interest to the ECB next year.

No, that is interest paid to everyone, including people who have loaned money to the government over the years, including your granny's savings bonds.

My questions are, is this payable?

Meaning? Do we owe it? Yes, we do.

It is almost the equivalent to the last 3 budgets added together.

The last three budgets came to about €175 billion - 19 times large than the figure you are talking about.

Why is this not being talked about more?

Because it is old news?

I is the first and last I have heard of it.

BillyMitchel

emo72 wrote: »

I find him to be the opposite of obnoxious. But I have never met him. So I can't verify that. Have you met him?

I've met him plenty of times and for right or wrong you cannot deny the passion he has for trying to make Ireland a better place.

LOSTfan57

Some attitudes i see here in AH are just so out of touch. Mob mentality dont half cover it

emo72

BillyMitchel wrote: »

I've met him plenty of times and for right or wrong you cannot deny the passion he has for trying to make Ireland a better place.

Did he Come across as obnoxious? He always seemed passionate to me.

BillyMitchel

emo72 wrote: »

Did he Come across as obnoxious? He always seemed passionate to me.

Not in the slightest. He's a FFers nightmare though.

Rabelais

BillyMitchel wrote: »

I've met him plenty of times and for right or wrong you cannot deny the passion he has for trying to make Ireland a better place.

Yes, Trotskyist socialism is the way forward for the plain people of Ireland.

This site: http://www.publicpolicy.ie/where-does-your-tax-go/ is always interesting when topics like this appear.

dotsman

Double Post

dotsman

cletus van damme wrote: »

yes the OP made a bags of his point.

But you are a mad fellow.

no matter how small (and it's not small) or smaller the bank debt is getting. It's still not our debt and is currently denying the chance for that money to be spent on other (think better ) things.

I am working to pay this and I've defaulted on fcuk all....

There are people losing health services for this.
That's what is outrageous.

yes of course there is other stuff to fix. But this should not be one.

Then what is really fcuking galling is people - who think "no big deal...looney lefties...nothing to see here".

Why do you think it's not our debt? Firstly, the dumb-asses politicians we democratically elected accepted it as our debt on our behalf. That makes it 100% our debt (As a matter of interest, what would you have done at the time?).

Secondly, as you brought up "the looney lefties", why do I have to pay for the social welfare bill (never have claimed, most likely never will), public sector bill (would use these services far below the average resident) etc? These are not my debts. So why do I have to pay? Because that is the only way it will work. Just like the banks. If we simply let the entire banking system collapse, then nobody would have a job, not 1 cent of money would be raised in tax, and we would have all been truly fcuked. At least the bank issue was a one off. I have to pay a $hiteload of taxes every single year (forever) to pay for these services I do not need.

P.S. The reason I used the word "small" is because it is. I am clearly referring referring to the percentage - that's why I say "small percentage"

emo72 wrote: »

I'd hardly refer to Barrett as a gob****e. he always seems to come across well.

Have you ever listened to him? Have you ever analysed the complete BS he spouts? He is the Simon Cowell of the political scene, appealing to the most basic level. The red tops would be embarrassed if they ever spouted the sensationalist, left wing, populist ****e he spews up.

emo72 wrote: »

why are socialists derided so much? Is their philosophy so abhorrent?

Yup, for the most part...

BillyMitchel wrote: »

I've met him plenty of times and for right or wrong you cannot deny the passion he has for trying to make Ireland a better place.

Passion? Of course. The problem is that SWP/Eirigi/Legion of Mary/Ruhamma and all the other political/religious extremists are also passionate about trying to make Ireland a better place. The problem is that their view of "a better place" is very very different from mine. In fact, I would very much use "Hell" as a description of their view of "a better place".

BillyMitchel

dotsman wrote: »

Why do you think it's not our debt? Firstly, the dumb-asses politicians we democratically elected accepted it as our debt on our behalf. That makes it 100% our debt (As a matter of interest, what would you have done at the time?).

Secondly, as you brought up "the looney lefties", why do I have to pay for the social welfare bill (never have claimed, most likely never will), public sector bill (would use these services far below the average resident) etc? These are not my debts. So why do I have to pay? Because that is the only way it will work. Just like the banks. If we simply let the entire banking system collapse, then nobody would have a job, not 1 cent of money would be raised in tax, and we would have all been truly fcuked. At least the bank issue was a one off. I have to pay a $hiteload of taxes every single year (forever) to pay for these services I do not need.

P.S. The reason I used the word "small" is because it is. I am clearly referring referring to the percentage - that's why I say "small percentage"

Have you ever listened to him? Have you ever analysed the complete BS he spouts? He is the Simon Cowell of the political scene, appealing to the most basic level. The red tops would be embarrassed if they ever spouted the sensationalist, left wing, populist ****e he spews up.

Yup, for the most part...

Passion? Of course. The problem is that SWP/Eirigi/Legion of Mary/Ruhamma and all the other political/religious extremists are also passionate about trying to make Ireland a better place. The problem is that their view of "a better place" is very very different from mine. In fact, I would very much use "Hell" as a description of their view of "a better place".

Compared to what? The hell some people are living in now? Suppose its their own fault though.

maryishere

all the government borrowing to fund an elite with big pay and pensions is not sustainable...its one of the reasons I left to come to Australia.

darkpagandeath

Most people understand why the banks needed a bailout, It's the fact that unsecured bond holders got paid back as well that really gets people going.

donegal__road

what is the correct figure Ireland will be paying in interest next year, if the figure of €9 billion is inaccurate?

btw, the point I was making in the OP is that in 2012, Ireland had to make €3.6bn in spending cuts.
In 2013, the figure was €3.5 billion.
The cuts for budget 2014 amounted to €2.5 billion

The three figures combined amount to €9.6 billion.

Elmer Blooker

LOSTfan57 wrote: »

Some attitudes i see here in AH are just so out of touch. Mob mentality dont half cover it

I wouldn't be one bit surprised if yer man Paul Howard, creator of Ross O'Carroll-Kelly gets his inspiration from threads like this on AH.

srsly78

maryishere wrote: »

all the government borrowing to fund an elite with big pay and pensions is not sustainable...its one of the reasons I left to come to Australia.

The dole isn't that high, calling the welfare class "elite" may also be a tad hyperbolic.

Jester252

Rabelais wrote: »

Yes, Trotskyist socialism is the way forward for the plain people of Ireland.

This site: http://www.publicpolicy.ie/where-does-your-tax-go/ is always interesting when topics like this appear.

Love that site really puts a bullet in the foot of all the equal taxes/ have the rich pay more argument spouted by SWP kind.

dotsman

BillyMitchel wrote: »

Compared to what? The hell some people are living in now? Suppose its their own fault though.

I'm not quite sure what you are talking about here - what people exactly?

Victor

donegal__road wrote: »

what is the correct figure Ireland will be paying in interest next year, if the figure of €9 billion is inaccurate?

The number is about right. Who is receiving it is WRONG!

btw, the point I was making in the OP

But that isn't what you said.

is that in 2012, Ireland had to make €3.6bn in spending cuts.
In 2013, the figure was €3.5 billion.
The cuts for budget 2014 amounted to €2.5 billion

The three figures combined amount to €9.6 billion.

Not quite, but not for the reason you might think. It would be:

€3.6bn x 2 years = €7.2bn
€3.5bn x 1 year = €3.5bn
€2.5bn x 0 years = 0
Total = €10.7bn

Comparing the two numbers is a bit grasping for a headline, but has little meaning - the €9bn (or whatever it will be from year to year) in interest will have to be paid every year. The €10.7bn would be essentially picking random numbers and saying "Ooh, look! If I add these up over several years, they look like that number!".

Overall, it makes you look like you are trying to score a political point. However, on examination, the point doesn't seem to add up.

Fr. Ned

dotsman wrote: »

As previously mentioned, from your post, it is clear your understanding of national economics is as flawed as that of that gob****e you linked to.

But more than that, do you realise that the "bank bailout" is only a small percentage of our national debt and constantly getting smaller? The majority of our debt (and increasingly growing) is to pay for current expenditure (public sector/welfare etc).

And of our welfare spend, less than 25% of it is for the unemployed.