Don’t worry Jay. The moaners don’t want to hear this because they actually want the country to fail so that they can wallow in misery and self-righteousness.

Let see how many red thumbs I can get for this one.

So whats the alternative default on the bank debt so investors wont touch te country with a barge pole then when you go to a bank and ask for a loan and are told an off the wall intrest rate as the money was so expensive to get from the market sure suppose thats something else for ya to moan about so win win for u i suppose

@jay what investors would they be? and interest rates on new loans have no bearing because the banks arent lending, you say we are being negative, i say you are deluded

Aib went to the bond market last week and had what 500million offered to them and boi what was it a billion … When the banks lent to any ejit with a bank account you complained now your complaining because they arent lending to you AND YOU CALL ME A SHEEP ha

@ Jay. Greece is still borrowing on the open markets and that is after defaulting once this year. I asked this before and have never got an answer can anyone point me in the direction of a country that defaulted who has never gone back to the markets?

‘now your complaining because they arent lending to you’, i was complaining? i wasnt looking for a loan either, and yes i was complaining when the banks were lending to anyone with an account, i was also complaining there was no government regulation regarding how much could be charged for a new house, i was also complaining that the banks were not allowed to fail, like the good capitalist institutions they are, you blueshirts spout on about the looney left and then continue to state sponsor failed banks, hypocrisy at its worst, you arent the cleverest fg/lab lapdog i read in here, the others might get up my nose with their smug arrogance but you dont reeally have anything to offer

At a huge inteest rate

Im not pro FG im just not anti government. No matter what the article is you spout you no austerity burn the bondholders rant instead of looking at it as a step all be it a small step in the right direction

please quote the exact phrase i used where i said the lower interest rate on state borrowing is a bad thing, also please find a single comment where i used ‘burn the bondholders’, i am not anti-government to any and all governments, i am not a fan of the irish political system, it breeds corrupt politicians, this government has done nothing positive but tried to claim credit wherever they can, i will not stop arguing against them just because you cant see reality

Where in this article did the government claim credit for this???

High interest rate yes at around 4.31% but then again Ireland is paying 8.2% for Anglo’s promissory note and over 3% on all other borrowings.

Anglo promisory note interest rate is not where we should be judging this from its about the interest we can get from the money markets now

It’s an interest rate we are paying every year costing us and damaging this countries opportunity to return to the bond markets which after all is the stated aim of this procedure we find ourselves in.

Actually jay, if we’d had the balls to burn the bondholders we would’ve been back in the bond markets a long time ago and wouldn’t have been in this mess. Look at Iceland, their banks collapsed, did they bail them out, no. They burned every bondholder in sight and started afresh, look at them now, out of recession. Sweden too have burned bondholders in the past, has that effected them? No. Do the bond markets ignore these countries, no. Bondholders get burned from time to time, it’s a gamble they take and are willing to risk. The only reason we were told to repay was because most of our bondholders were German and French banks, so they bluffed us into thinking if we didn’t repay we wouldn’t get a bailout and go under, but in reality, we were always getting a bailout as us going under would’ve meant collapse of the euro, something that just couldn’t happen

Ive no doubt in my mind that we were to big to fail and its pretty clear thats why we were bailed out because framce and germany would go under which is the same reason greece isnt tossed out to fend for itself

Also on the iceland approach would har been ideal approach but unfortunatly FF Decided to guarentee the loans making them sovergn debt which was not the case in iceland

If it was high youd blame the government now that its low youll find a way to spin it and blame the government i dunno if ur just a troll whos looks for some green thumbs on ur comments

I know we are all angry at everyone all the time, where is the positivity, surely this is a sign that our economy is becoming more stable.

According to the article Ireland’s costs have dropped because of the Greek deal which is allowing them to buy back bonds at a discount of 70%. It leaves me wondering what the Irish cost of borrowing would be if Ireland could do the same rather then paying 100% to unsecured bond holders.

Yes it is positive news but it has nothing to do with the Irish governments actions or inaction’s.

Rodrigo
You seem to suggest that our State should actually borrow money with the deliberate intention of not repaying it. Is that your thinking and is that the manner in which you believe this or any State should be run?

@jay baaabaaabaaaabaaababaababababaaa

Well done Enda, credit where credit is due…

Im a sheep because i see a positive in what you see a negitive

well jay i am not sheep psychologist or anything but i wasnt calling you a sheep because you are being positive, probably no point trying to explain it to you

Im aware of what you were claimin by calling me a sheep anyone who disagrees with your rubbish points seem to be always called a sheep… my point was just to look at this as a positive but sure if ya did that what else would ya have to moan about today im sure you would find something

more baabaabaaaba

populist nonsense? by saying austerity isnt working? the only proven way to break a recession is by public spending on jobs, all previous attempts at taxing and cutting the way out of recession have just ended with deeper recession, these are historic facts, not populist nonsense

The country day to day spending is un sustainable so cuts arent the answer but what exactly will work in a worldwode recession

@Jay. What to do rather then cuts? I’d do the following. Tell the ECB that we are not paying €5 billion over to Anglo & Irish Nationwide next year or in any other years. Look at that the €3.5 billion adjustment already covered with €1.5 left to invested in stimulating the Irish economy. I’d also do what Stephen Donnelly suggested last weekend. Go back to AIB and tell them to return to the Irish tax payer the €1.1 billion they transferred to their pension fund. So in one year an additional €2.6 to invest in the Irish economy.

Bottom line is cuts without any stimulation to the economy will not work and will only cause more unemployment leading to less revenue to the state (income tax etc., drops) and more out goings (unemployment benefits etc., increases).

I agree Cuts without stimulation is suicide but not paying the debts i dont this is the answer . If tere would be no long term repercussions to not paying id be all for it

Almost every country in the world is in debt. It’s how practically all countries finance themselves. Ireland is no different here although in the last few years our debt to GDP ratio has risen sharply because of the downturn. Put simply unless we ran budget surpluses at huge rates for the next twenty to thirty years and used it exclusively to pay off debt the country will have a national debt.