Sligo Bankrupt ?

anishboi

I heard Sligo is the first county to be bust - is it true?

I mean, I know the recession has hit all of Ireland's peripheral towns, but when I travel to other towns of similar size and isolation like Castlebar, Ballina or Letterkenny, they don't seem to be half as bad as Sligo is. And Sligo is arguably bigger than all of the above towns.

I've walked on O'Connell Street in Sligo on a Sunday afternoon and the street is empty. I'm the only one walking, the town is dead.

I was most recently in Ballina and most of the restaurants are still buzzing, which is more than can be said for Sligo.

So is it true that Sligo is bankrupt? I know it's one of Ireland's most poorly managed counties.

Geuze

Only people can be "bankrupt".

Companies with excessive debt / problems go into receivership or eventually liquidation.

Governments can't really go bankrupt, as they can raise taxes to cover their deficits / debts.

Yes, Sligo Co. Co. has a lot of debt, but it is paying its bills, as far as I know.

It faces huge financial challenges.

Will it get bailed out by central Govt - that is a question.

Buford T Justice

anishboi wrote: »

I heard Sligo is the first county to be bust - is it true?

I mean, I know the recession has hit all of Ireland's peripheral towns, but when I travel to other towns of similar size and isolation like Castlebar, Ballina or Letterkenny, they don't seem to be half as bad as Sligo is. And Sligo is arguably bigger than all of the above towns.

I've walked on O'Connell Street in Sligo on a Sunday afternoon and the street is empty. I'm the only one walking, the town is dead.

I was most recently in Ballina and most of the restaurants are still buzzing, which is more than can be said for Sligo.

So is it true that Sligo is bankrupt? I know it's one of Ireland's most poorly managed counties.

Really? You think Sligo is bigger than Letterkenny?

For a start the total population of Sligo and county is 65,393, and the population of Donegal county is 161,137 (Most recent CSO data)

Population of Letterkenny is 19,588 vs Sligo of 19,452 as of 2011.

In terms of a buzz in a town center, there would be a much higher volume of people converging in donegal to the towns than there would be in Sligo, hence the 'buzz' or lack therof

Castlebar12

sligo is one of the most indebted councils i heard from someone up there that they could ardly afford to pay for christmas light and asked kildare coco for money as they have a surplus but were refused is this true?

Castlebar12

wow look at this sligo td tony mcloughlin
" According to the annual financial statement for Sligo County Council, its debt increased by almost €2.5 million in 2012. Councillors were asked to authorise over-expenditure at their annual budget meeting. This debt from 2012 brings the revenue deficit to €7.9 million and leaves the county council with a total revenue-capital debt of in excess of €80 million." 80 million!!
i am no financial expert at all bu im pretty sure page vii is saying mayo coco has 139 million in debts?!

Buford T Justice

Castlebar12 wrote: »

wow look at this sligo td tony mcloughlin
" According to the annual financial statement for Sligo County Council, its debt increased by almost €2.5 million in 2012. Councillors were asked to authorise over-expenditure at their annual budget meeting. This debt from 2012 brings the revenue deficit to €7.9 million and leaves the county council with a total revenue-capital debt of in excess of €80 million." 80 million!!
i am no financial expert at all bu im pretty sure page vii is saying mayo coco has 139 million in debts?!

What's Mayo's debt got to do with Sligo?

Castlebar12

Buford T Justice wrote: »

What's Mayo's debt got to do with Sligo?

We are talking bout Sligos debts and I am saying Sligo has high debts but its neighbour mayo has higher just trying to contribute jeeeeez

Arthur Beesley

The whole Lissadell fiasco hasn't helped either.

For Forks Sake

Arthur Beesley wrote: »

The whole Lissadell fiasco hasn't helped either.

That's not even been added on yet....

corsav6

Castlebar12 wrote: »

We are talking bout Sligos debts and I am saying Sligo has high debts but its neighbour mayo has higher just trying to contribute jeeeeez

Has Mayo more debt than Sligo? I can't see where their spending the money, surely the Greenaway hasn't cost that much.
We passed through Sligo today and it was fairly quite, expected more people for the bank holiday weekend.

bonzos

Castlebar12 wrote: »

wow look at this sligo td tony mcloughlin
" According to the annual financial statement for Sligo County Council, its debt increased by almost €2.5 million in 2012. Councillors were asked to authorise over-expenditure at their annual budget meeting. This debt from 2012 brings the revenue deficit to €7.9 million and leaves the county council with a total revenue-capital debt of in excess of €80 million." 80 million!!
i am no financial expert at all bu im pretty sure page vii is saying mayo coco has 139 million in debts?!

http://www.independent.ie/irish-news/tds-got-34300-payoff-to-give-up-council-seats-26893831.html

Tony is no stranger to Sligo county council soft money....he didnt mention this when he was looking for votes 3 years ago!

promethius

bonzos wrote: »

http://www.independent.ie/irish-news/tds-got-34300-payoff-to-give-up-council-seats-26893831.html

Tony is no stranger to Sligo county council soft money....he didnt mention this when he was looking for votes 3 years ago!

Tony? God forgive me but if he didn't occasionally pop up in the champion i would have thought he was ill or something. Missing since 2011.

bumper234

Geuze wrote: »

Only people can be "bankrupt".

Companies with excessive debt / problems go into receivership or eventually liquidation.

Governments can't really go bankrupt, as they can raise taxes to cover their deficits / debts.

Yes, Sligo Co. Co. has a lot of debt, but it is paying its bills, as far as I know.

It faces huge financial challenges.

Will it get bailed out by central Govt - that is a question.

Tell that to Detroit

http://en.m.wikipedia.org/wiki/Detroit_bankruptcy

Cnoc na Riabh

anishboi wrote: »

...I've walked on O'Connell Street in Sligo on a 'SUNDAY' afternoon and the street is empty. I'm the only one walking...

Duuhh!! - It was SUNDAY!!

Ya Dublin heathen LOL

Janine87

Its sad in general Ireland is not out of recession yet.
I come from a country (Germany) that was in recession and got put of it themselves without any help from other countries.
I just don't get it what this country does wrong that they are in such a situation.

red sean

Janine87 wrote: »

Its sad in general Ireland is not out of recession yet.
I come from a country (Germany) that was in recession and got put of it themselves without any help from other countries.
I just don't get it what this country does wrong that they are in such a situation.

Not comparing like with like!
Germany is much larger in terms of population, industrialization, and GNP and is in Central Europe where costs can be a fraction of Ireland.
We're a small island in the Atlantic with smaller population and workforce and where costs are always going to be high. Much less industrialized as a result.