Up to 50,000 people march in Dublin over budget cuts

Originally posted by brill

Originally posted by jaamaan
reply to post by brill

 

Do you have a link for that information?
Very frightening figures !

Yes I referenced the source in my post.
2nd

brill

Sorry, i see it now.
Thanks

Official result of discussion:
Ireland will receive a combined $85b Euro bailout, 10b euros directly infused into the banking industry with a reserve of 25b to insure the banks. the rest will be spent on State affairs, essentially carrying on the budget.

Loan interest rate will be 5.8% ... an extremely high interest rate.

Loan will be for 10yrs.

Compounding the interest only once an annum.. 85b euros at 5.8% over 10 years =

149,374,203,559.36 Euros. The EU, banks and the IMF are making a killing off Ireland's despair.. Ireland should allow the entire banking sector to collapse, and should default on their debts, and withdraw from the European Union immediately.

Rockpuck:

ZH is reporting that:

€17.5 billion will be financed by an Irish contribution from banking system and its pension fund (the NPRF).

Wow. So pension funds are being used to fund these problems. One would assume then from a US perspective that when austerity hits 401k's would also be at risk? Would you agree?

src

brill