Tag Archives: Economy
From Thomas Molloy, Irish Independent:
Why is Anglo costing us so much money ?
Anglo is costing us at least €23bn because the money it owes to depositors, lenders and the ECB is at least €23bn more than the bank is worth.
(Broadsheet translation: Cos it is)
Why are we keeping the bank open?
Because the Government has decided that all of these liabilities will be paid in full and no bank will renege on its debt.
(Broadsheet translation: Cos it’s a stitch-up)
What will this do to the national accounts?
Analysts say the latest injection could push the budget shortfall above 20pc of GDP this year — by far the biggest deficit in the euro area. The Department of Finance said the €8.3bn given to Anglo Irish in March would “in all probability” be added to budget deficit calculations.
(Broadsheet translation: They’re fucked)
Does it matter?
It adds to the glum mood music and scares investors. The economic news coming out of Ireland was pretty good at the beginning of the year but the mood is darkening again. Unemployment, retail sales, the exchequer figures and exports have all been a little worse than hoped for in recent months.
(Broadsheet translation: Not if you’re emigrating).
That’s nearly a kajillion bajillion.
Good Morning.
Anglo Funding May Top Eur24 bilion (Ciaran Hancock, Sephen Collins, Irish Times)
Billions More To Go Into Anglo ‘Black Hole’ (Laura Noonan, Aine Kerr, Irish Independent)
Ha! Ha! Ha! Seriously though, I owe 350 million quid.
“The words uttered during the Famine spring to my mind today: “The best go and the worst stay”. Today, I am getting ready to emigrate. Like all those graduates of my generation, I am stuck…So, I am choosing a route that so many have before me — emigrating to foreign shiny shores.”
Letters to the Editor (Irish Independent)l
Rubbish. We’re staying so that must mean.
Hang on.
“Now, while it’s easy to criticise politicians, we must also reflect on our own behaviour as citizens. Why is there so much public tolerance for corruption? Why don’t we ask more questions or challenge authority? Why do we accept the consensus without demanding to know the agenda of those driving it?“
Oh dear, we think we know where this is going…
“The truth is that we have low expectations, and we are lazy.“
Gah. Busted.
Wake Up And Save This Rotten Republic Of Greed (Martina Devlin, Irish Independent)
Translation: “I only hit you because I love you, baby. You know that.”
Because they fucking can.
Still, great ad.
MORE PEOPLE are leaving Ireland than anywhere else in the European Union, new research shows. Although Ireland has the EU’s highest birth rate and lowest death rate, people are abandoning the country in droves as work dries up.Figures compiled by Eurostat, the EU Commission’s statistical arm, show Ireland is markedly different from other countries in terms of population growth and outward migration. Overall, the population of the 27 EU countries is estimated to have grown to 501.1 million at the start of 2010 from 499.7 million in 2009. A baby boom in Ireland, which began in 2008, has brought the birth rate to levels not seen since the 1890s, but the departure of some 40,000 people last year points to the return of mass emigration.
Numbers Leaving Ireland At Double Rate Of Next Eu State (Irish Times)