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THE INTERNATIONAL MONETARY FUND has approved the latest €3.9 billion batch of bailout loans for Ireland.
The release of the loans was approved at a meeting of the IMF’s board in Washington last night.
The IMF has already released around €9.15 billion in loans to Ireland since the bailout programme was agreed late last year.
The latest batch of funds is the largest single disbursement since the distribution of just under €6 billion in January of this year, the first instalment under the scheme.
Ireland has incurred around €128 million in charges and interest on its previous IMF borrowings.
The release of the cash comes a day after the European Commission signed off on its own latest batch of bailout lending to Ireland.
It yesterday released its fourth quarterly review of the financial assistance programme, which gave its blessing for the payment of €4.2 billion in bailout loans – bringing Ireland’s total borrowing from the Commission’s EFSM bailout vehicle to €18.1 billion.
The latest batch of Commission funding will be released in January, when another inspectorate of officials from the EU and IMF will visit in order to examine the impact of the 2012 Budget.
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I know I am just a I am an un educated fool, but I wouldn’t put Euro3.6 Billion in the credit union so I could take a loan for Euro3.9 billion. To me all of these problems feel like some sort of gypsie marketing scheme. like someone trying to sell me something I don’t want. Even with the most complexe loan I’ve had I understood each part of it, but all of this just feels like I am being manipulated into a position I don’t want to be in.
its the same as a money lender calling around and lending u money.
he is taking a risk but he will charge you more as a result.
he then wants u to take out a second and third loan because u are strapped again..
its in his interest that you stay strapped and keep loaning off him….
u then end up paying a fortune because ur strapped and nobody will lend you except him….
That about the up and down of it…
Dress it up how u like it and its all the same at the end of the day.
You are stuck
You borrow to survive
Your options are running out
You borrow again
Your hooked.!!!!
Chris you don’t need a degree in Economics, although there’s plenty would differ to shut you up, to know that this is all one big scam. Numbers on a computer screen! Made up money! You’re dead right Chris.
money = debt. When money is printed out of thin air not only does the value drop but the money is sold/lent to the country plus interest. This means there is never enough money in the system to pay it all back and the wheel of debt keeps turning.
Watch Zeitgeist; Addendum on YouTube. This is the third of the Zeitgeist series so you might want to watch the other ones too but the third is the best!
Pretty handy timing getting this €3.9 billion from the IMF just in time to pay €3.1billion to bond holders of that black hole Anglo next January.
Having read the Economic history of the Rothschild Family from its foundation i see so many similarities with this latest financial fiasco we find ourselves in… The big bankers of the world made a fortune then and i fear now as well….
They queued up to loan money with such attractive interest payments then and now…
I suspect the honor then is far less then it is now in some respect…
sigh… the wheel turns again…
You (and everyone else) should read John Perkins’ Confessions of an Economic Hitman. Perkins was an agent who saddled countries with as much debt as possible in order to steal their resources, UN votes and use their locations as strategic military ones. In Ireland we are witnessing unpayable debt for the mistakes of other bankers, a €540 billion giveaway of our oil and gas, Iraqi pows illegally flown through our airports via an illegal war in Iraq and more. A very interesting book that will change your perspective on the emerging world economy, it is available for 10€ in Easons.
Parrrtayyyy! …oh….
This reminds me of how I trained my dog………. “Sit Ireland …… good dog, you’re a good girl, yes you are ………. now lie down……. good dog!!”…… Now here is your treat.
There was a document release once circa 1916….. in the body of it was the following paragraph;
“We declare the right of the people of Ireland to the ownership of Ireland, and to the unfettered control of Irish destinies, to be sovereign and indefeasible. The long usurpation of that right by a foreign people and government has not extinguished the right, nor can it ever be extinguished except by the destruction of the Irish people. In every generation the Irish people have asserted their right to national freedom and sovereignty: six times during the past three hundred years[2] they have asserted it in arms. Standing on that fundamental right and again asserting it in arms in the face of the world, we hereby proclaim the Irish Republic as a Sovereign Independent State, and we pledge our lives and the lives of our comrades-in-arms to the cause of its freedom, of its welfare, and its exaltation among the nations.”
dont u just love the angry people who press the red thumbs down for nor reason….
Its similar to the “don’t press button” for them
lol
They have turn us into “junkies”, waiting for the next dose! This is what happen when you put peoples hopes and dreams in the hands of domestic and foreign loan sharks.
None of this money actually exists. We’re repaying this, plus interest! This is really noney for nothing.
noooooooo!! multiplied by a few billion.
Just in time for Public Sector bonuses and increments
So where are the IMF getting the money from?
I didn’t know Noonan met with Ryan Tubridy, who’s hair is very grey btw.
i dont understand how people are saying its not real money. is this not money for teachers doctors etc….??
yea more to tax on us !
Britain have bailed on the eu they are our biggest trading partner we are supposed to export our way out of recession so we need to get out of the euro they are not buying our goods we can peg our punt to sterling a get shot of the euro zone broker another deal with the IMF that’s what they are good at
I think that’s the longest sentence I have ever seen – bravo sir!
Ironically some of it comes from us!!!!!
All the members of the IMF contribute to it’s funds by way of loans on secial terms.
have your say