Ireland says may need 15 billion euro funding by end 2013
Ireland may need up to 15 billion euros (13 billion pounds) in funding by the end of 2013, the head of the debt management agency said on Friday.
Asked if Ireland would need that much ahead of a bond repayment in early 2014, John Corrigan said that was “in the right ball park” but at the upper end of the range.
He said it was not possible to say when Ireland would return to longer-term debt markets.
“There is no box with a secret plan with a rate and a date, it has to be driven by market circumstances,” Corrigan told a parliamentary committee.
Corrigan said that the cut in Ireland’s interest rate from the European Union could save the country around 830 million euros in 2012 and 1.1 billion per year after that, but said the details had yet to be worked out.
The chief executive of Ireland’s National Asset Management Agency , Brendan McDonah, told the same meeting that he expected his agency to post a pre-impairment profit of at least 500 million euros.
(Reporting by Conor Humphries)
What about all them promises Enda Kenny?? I bet the Irish people will have to pay that back for decades to come.
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Ireland Says May Need 15 Billion Euro Funding By End 2013!! Wtf?
Posted on September 13, 2011.
Worse thing Ireland or any other EU country could have done, sighn up to the Euro, even Germany and France are on the edge because of the stupid Euro, it doesn’t work and never will.
Troll questions, troll answers.
When are you people going to learn that ALL politicians made all kinds of promises they can’t deliver?
However, kudos to Enda Kenny for getting shirty about the sexual abuse of children by clergy. He was dead right.
Oh god!!!! When are stupid minded people going to realise its NOT the Irish people that are begging at the doors of other countries government its our so called government thats crying out for the money! And might I add its the tax payer that is paying back these loans so can we please stop with the stupid answers from people saying “get lost we dont want to help you out” because i for one would be more than happy not to have any of these loans to pay back the taxes are getting to become a joke now!! We dont want these loans anymore than you want to give it to us.
I think you don’t understand what “funding” means. ALL countries need funding. ALL countries borrow money to run themselves. ALL countries pay back that money over time. Ireland is no different. That’s what’s being talked about here; it’s nothing that wouldn’t be done in ANY other country on the planet. Frankly, I’m amazed that you think there’s something strange about it.
(Where do you think ANY country gets the money it’s needs to run itself? A country is like a (very) large business in that future revenue (i.e. tax receipts) pay for past expenditure (the roads you drive on; the school your kids go to; etc.). And, like a business, a country BORROWS money to bridge the gap of time between when that money has to be spent and when that revenue is taken in. If it was run any different, it’s economy would collapse and you’d be sitting starving on the side of the road wishing the country DID borrow that money after all).
eire’s debt has become a way of life now, its got its hand out again for more freebies, the same as a child wanting more sweets, knowing that if it whines and whinges enough it will get them to shut it up!!!
they must be made to live within their budget, and not expect others to support their lavish lifestyle at the expense of not addressing the increasing abject poverty it is causing to the poor needy in their own country, who are subject to greater depravity due to the compulsory support given to other countries such as eire, they have a saying up north “charity begins at home” and the time has arrived to implement it!!!!
I hope the uk isn’t planning to give yous the money because i’m tired of giving my money away to countries who will not even give it back. I mean why should we give yous the money when yous can’t stand us? I think the next time the prime minister wants to give away money WE should get a say!