6.7 % rate for the bailout.

Sir Oxman · 26-11-2010 10:07PM #1

Reported on the state broadcaster, second item.

This is when Ireland must say no.

Paul Somerville and Lucey were bang on the button with this figure on VB two nights ago.

This is unbelievable, why would these people demand such a punitive rate?
What is behind this?

Debt interest repayments would be approx 8.4bn per year by 2014 not including money drawn down for bank capitalisation...over 9 years

ArtSmart · 26-11-2010 10:10PM

according to RTE.

This is the end of FF. for good.

8.5 Billion payback a year on interest.

I cannot believe it.

Unless the senior bond-holders are gonna take a severe hit.

kaiser sauze · 26-11-2010 10:10PM

I'm stunned, absolutely stunned.

EDIT - I have not mentioned treason in my posts before now, but this is treasonous.

Paleface · 26-11-2010 10:12PM

They can f*ck off. We should default!

Laois_Man · 26-11-2010 10:13PM

How can we stop them from doing this? We have to stop them! I'm absolutely ****ing furious here. Livid!

silverharp · 26-11-2010 10:13PM

only losers that go to Ocean Finance pay that rate, oh wait..................

It makes burning the bondholders the simple solution, at that rate no borrowing makes sense.

wylo · 26-11-2010 10:13PM

ok....now we can panic

Bob_Latchford · 26-11-2010 10:13PM

Missed it was it on the news? speculation or real announcement?

muletide · 26-11-2010 10:14PM

Crazy, I can't see the logic in applying that rate. There is no way we can repay that.

I am shocked - that's it we are finished

ArtSmart · 26-11-2010 10:14PM

Paleface wrote: »

They can f*ck off. We should default!

I just cant believe this. Is it FF bluff bullshiit? Unbelievable.

I'd nearly consider default myself.

Bob_Latchford · 26-11-2010 10:15PM

Laois_Man wrote: »

How can we stop them from doing this? We have to stop them! I'm absolutely ****ing furious here. Livid!

Im off into Dublin at lunchtime, nice and peaceful

sollar · 26-11-2010 10:15PM

ArtSmart wrote: »

8.5 Billion payback a year on interest. .

And thats only on the 85 billion, what about when the other loans are accounted for.... it'll be 16 billion interest. We will be slaves for a generation.

Something radical needs to be done now.

Also, RTE could be in cohouts with FF and are playing politics with it. First Leak a massive 6.7%....... spook the public and then we will be relieved when the actual is about 5.8 or 6%

kaiser sauze · 26-11-2010 10:15PM

Bob_Latchford wrote: »

Missed it was it on the news? speculation or real announcement?

Speculation, but an explicit figure speculated.

ArtSmart · 26-11-2010 10:15PM

silverharp wrote: »

only losers that go to Ocean Finance pay that rate, oh wait..................

It makes burning the bondholders the simple solution, at that rate no borrowing makes sense.

Yeah - that's the only thing that would make sense.

otherwise we're in FUBAR territory.

later12 · 26-11-2010 10:16PM

This haircut is going to have to turn into a decapitation.

6.7% on 85 bn cannot be done at current debt levels, nor anything approaching them.

scargill · 26-11-2010 10:16PM

with all of the FF bull**** over the last while I wouldn't be at all surprised if they have already provisionally agreed a figure nearer 5% and have just put out this 6.7% figure so when the figure is officially announced tomorrow night they can take the credit?

Am I too cynical now?

take everything · 26-11-2010 10:16PM

Bob_Latchford wrote: »

Missed it was it on the news? speculation or real announcement?

9 o clock news.

Idbatterim · 26-11-2010 10:17PM

6.7% its a disgrace! Vradakar said he would burn bond holders! I really hope this becomes a major election issue! It is total madness millions of us are going to be affected for what is pocket change in the scheme of things to bondholders. So what if a few percent of their investments have to be totally or partially written off?! Ireland really is in a position to totally unleash hell on the euro project. I think a referendum would have to be held though, so that the people would speak and that we would then accept whatever the consequences were.

greendom · 26-11-2010 10:17PM

That is shocking - are we really that much more of a risk than Greece who got their bailout at 5.2% ?

Tefral · 26-11-2010 10:18PM

We cant afford that...

****ing hell did i get it right that Klaus Regling is causing it to be so high?

ArtSmart · 26-11-2010 10:18PM

kaiser sauze wrote: »

Speculation, but an explicit figure speculated.

6.4 - 6.7, with 6.7 mentioned 'more often'.
Even i have to admit it may be real.

unfoockingbelievable. the bond holder story better come out soon.

i swear this will bury FF forever if it's true and the BH give no major relief.

DiscoStu · 26-11-2010 10:19PM

That's pretty much it then. Anything over the projected growth rates for the coming years was going to be a death sentance anyway, this just cements it. €15billion a year for servicing this debt, half our current tax revenue which is only going to drop as the economy is strangled thanks to the internal devaluation policies of the 4 year plan.

The only option is default on the bank debt and prepare for financial Armageddon.

carrolls · 26-11-2010 10:19PM

Time to threaten default. What have we got to lose? We may as well borrow off moneylenders.:D

indiewindy · 26-11-2010 10:19PM

Don't believe any of this until you see an official statement, as an earlier poster said, thay'll claim a victory by getting a c 5% rate, typical to make things look a lot worse than they will be

Laois_Man · 26-11-2010 10:20PM

We absolutely have to default. No question. How can people tell us we need this money to this degree? Sure we'll be screwed. But we're screwed anyway and we'll be screwed for alot less time if we bring down Spain, Portugal and possibly the Euro with us!

ArtSmart · 26-11-2010 10:20PM

scargill wrote: »

with all of the FF bull**** over the last while I wouldn't be at all surprised if they have already provisionally agreed a figure nearer 5% and have just put out this 6.7% figure so when the figure is officially announced tomorrow night they can take the credit?

Am I too cynical now?

That was my second thought. (the first was pretty dark, llet me tell you)

I hope they are that cynical , if you know what i mean.

greendom · 26-11-2010 10:21PM

What's the justification for this? I thought Ireland was in a relatively strong bargaining position as the EU wanted us to take the money. Why are we going to have to pay 1.5% more than Greece is for theirs?

donkey balls · 26-11-2010 10:21PM

Just watched it on tv my self and according to Leo Varadaker the greeks are paying less than us:mad: someone please tell me that these f**king morans did'nt sign off on this.
Did anyone hear the interveiw yesterday evening with matt cooper and ollies spokesman saying that the interest rate would not be over 5%.

Joey the lips · 26-11-2010 10:22PM

http://www.rte.ie/news/2010/1126/economy_bailout.html

likely....has that been confirmed...

bleg · 26-11-2010 10:22PM

scargill wrote: »

with all of the FF bull**** over the last while I wouldn't be at all surprised if they have already provisionally agreed a figure nearer 5% and have just put out this 6.7% figure so when the figure is officially announced tomorrow night they can take the credit?

Am I too cynical now?

No, you're not too cynical. Definitely possible.

oppenheimer1 · 26-11-2010 10:23PM

**** the EU, we should take the IMF rate of 4.5%. At 6.7% that isn't a bailout, we'd be better off taking our chances in the market.

It will be an utter failure of government if that is the final rate and we'll have been sold into servitude. This is simply too expensive and is a self defeating measure.

6.7 % rate for the bailout.

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