Ireland's national debt 'one of the highest in the world' on a per capita basis

Pussyhands · 22-02-2022 6:36pm #1

https://www.rte.ie/news/business/2022/0222/1282354-national-debt-report/

The national debt stood at €237 billion at the end of last year.

This equates to €47,233 for every person in the country, which is described in the report as "one of the highest in the world."

_____________________________

It's a good thing FFG found that money tree in the last year or so. 🤑

22-02-2022 6:40pm

Not good.

If our FDI strategy starts to fall apart we will be in an awful position.

bigroad · 22-02-2022 6:41pm

Ffg won't care as they probably won't be in government next time.

Mr. teddywinkles · 22-02-2022 6:47pm

If the ecb raise interest rates on borrowing due to inflation. Will this slow these egits in government spending willy nilly.

combat14 · 22-02-2022 6:51pm

.. major war about to start in ukraine, and people paying nose bleed celtic tiger prices for houses here again what could possibly go wrong..

22-02-2022 7:17pm

https://www.boards.ie/discussion/comment/118674441#Comment_118674441

None of them care.. they're never going to take any responsibility for what happens. Past or present.

enricoh · 22-02-2022 8:36pm

https://www.boards.ie/discussion/2058234284/irelands-national-debt-one-of-the-highest-in-the-world-on-a-per-capita-basis

Paddy is not interested in this sort of stuff, now are we on for double digit house price rises again for 2022?! We are? Sorted!

Gant21 · 22-02-2022 8:37pm

We need to keep borrowing and keep building. Fire up the mixer and order some 804.

Jinglejangle69 · 22-02-2022 8:41pm

This green agenda nonsense needs to stop.

No more bleeding tax payers to realise Eamon Ryan’s vanity project.

Billions to be spent on something we will barely make a difference to while other countries prosper without this climate nonsense.

We need to allow gas excavation as it will help us in the future to not rely on other countries for energy especially with a war impeding.

Enough is enough.

Allinall · 22-02-2022 8:43pm

https://www.boards.ie/discussion/comment/118674435#Comment_118674435

People have been saying that for the last forty years.

French Toast · 22-02-2022 8:47pm

Who do we owe that money to?

If we just stop talking about it they might forget. Best plan I've heard so far...

22-02-2022 8:50pm

https://www.boards.ie/discussion/comment/118675021#Comment_118675021

Yes, but it hasn't fallen apart. If it does we are in trouble. Huge number of high paying jobs, income tax and corporation tax receipts.

It may or may not fall apart, depends on the geopolitical developments over the next decade or so.

I'm not hopeful but luckily my opinion on this doesn't matter 🙂

MAULBROOK · 22-02-2022 8:54pm

Weimar Republic 1923 hold my beer, says Ireland 2022

NIMAN · 22-02-2022 8:56pm

https://www.boards.ie/discussion/comment/118675012#Comment_118675012

I think the Greens are probably responsible for about 0.001% of that debt in fairness.

We have accumulated all that debt over the lifetime of the state when it was either FF or FG at the helm.

22-02-2022 8:58pm

I suggest offering northern ireland as full and final settlement to all the states debt.

On a serious note i see the government raiding private savings and pension funds, to keep funding nonsense and the workshy

Mr. teddywinkles · 22-02-2022 8:58pm

https://www.boards.ie/discussion/comment/118675036#Comment_118675036

Tommy Tiernan had the right idea. Find the lad and kill the bastard.

Jinglejangle69 · 22-02-2022 8:59pm

https://www.boards.ie/discussion/comment/118675098#Comment_118675098

I seem to recall the greens in power during the Celtic tiger madness.

22-02-2022 9:03pm

Don't worry, socialism is always there to bail out capitalism.

Cyclingtourist · 22-02-2022 9:09pm

If it's 'per capita' then the more our population increases the lower it will become.

Allinall · 22-02-2022 9:19pm

https://www.boards.ie/discussion/comment/118675062#Comment_118675062

I’m a Grand Canal Basin half full person myself.

Be grand.

Kermit.de.frog · 22-02-2022 9:33pm

https://www.boards.ie/discussion/comment/118675012#Comment_118675012

People will start turning against that stuff in bad times. Particularly when you see what's going on with Russia and how we stopping ourselves exploiting our own resources and leaving us vulnerable.

cnocbui · 22-02-2022 10:01pm

https://www.boards.ie/discussion/2058234284/irelands-national-debt-one-of-the-highest-in-the-world-on-a-per-capita-basis

I'd say it's worse than that. Not everyone is going to be tapped to help pay it off. The debt per income tax payer is €150,000 per head.

Mad_maxx · 22-02-2022 10:11pm

Yet majority supported the past two years restrictions?

Quitelife · 22-02-2022 10:13pm

As long as there’s enough there to pay all the public sector defined benefit pensions the rest of us can only dream of no one in government cares !!

cj maxx · 22-02-2022 10:32pm

I thought this why Brian Cowan relaxed borrowing in the nougties. As a rule most people were under borrowed compared to our European neighbours. FF caused an almighty F-up with the economy. Relax basic rules of economics and flood the country with cheap money. Once you put that see-saw in motion you're fighting a long war to get back in balance

salonfire · 23-02-2022 12:12am

https://www.boards.ie/discussion/comment/118675149#Comment_118675149

So you're going to reduce the government debt by increasing spending and reduce the cost of living burden by increasing taxes.

Can you show us your calculations?

To come up with a big statement like that, your sums must add up. Let's see them.

GeneralMudkip · 23-02-2022 12:24am

How on Earth did we amass €237 billion in debt? With no plan in sight to resolve the issue

Cluedo Monopoly · 23-02-2022 12:25am

https://www.boards.ie/discussion/comment/118674483#Comment_118674483

That's not an If. The ECB will be raising interest rates soon.

Pussyhands · 23-02-2022 12:30am

https://www.boards.ie/discussion/comment/118676114#Comment_118676114

It's not a problem for now as the debt will be fixed rate. Problem will be when we reach maturity date, when we pay back the principal. Debt doesn't get paid off anymore, it's just rolled over with a new loan. All dandy when rates get lower each time.

We're done for if we lose some FDI money and rates go up a few % by the time we have to roll over that debt.

Cluedo Monopoly · 23-02-2022 12:30am

https://www.boards.ie/discussion/comment/118675496#Comment_118675496

To be fair in 2010 the state borrowed €64 billion from the EU and the IMF to recapitalise private Irish banks. We took lots of private company debt into our sovereign debt.

'Not another red cent' was another one.

23-02-2022 12:39am

https://www.boards.ie/discussion/comment/118676060#Comment_118676060

Can you point out where I said I would do what you said?

Ireland's national debt 'one of the highest in the world' on a per capita basis

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