Machholz's Blog

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The Irish people have paid 42 percent of the total cost of the European banking crisis

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Bank payouts

Ireland may not win football’s European Championship but when it comes to banking debt we are Barcelona, Bayern Munich and Manchester United all rolled into one with Real Madrid for a bench.  Germany may have run Ireland close in the nominal amount of banking debt but when it comes to a proportion of GDP, it is just pennies behind their sofa. For Ireland, it’s the entire house.

Here’s another little stat to chew on.  The European banking crisis is just that – a European crisis.  But as we know, this has not been addressed at European level.  Rather, the cost has been delegated to individual countries regardless of their size or ability to pay.  For instance:

  • Ireland makes up 0.9 percent of the EU population
  • The Irish economy makes up 1.2 percent of EU GDP

Ok, we’re small.  So how much of the entire European banking debt have we paid?

  • The Irish people have paid 42 percent of the total  cost of the European banking crisis

 

 

Source:http://notesonthefront.typepad.com/politicaleconomy/2013/01/with-considerable-speculation-about-an-impending-deal-on-bank-debt-with-the-taoiseach-and-the-german-chancellor-jointly-sta.html

 

 

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Author: machholz

I started this Blog to get out of my system the absolute rage that I have for the corrupt politicians and their Banker Buddies. I’m an ordinary guy, married with kids, and have firm opinions of what is right and what is wrong. I’m not afraid to say it even when it makes me unpopular. I reproduce news all manner of articles, but will always confirm the source of the articles; this is a compliment to the source of such news pieces. But if you do not agree with this and you are the original author, I will take down any article when requested to do so. I do not assume that the author of the news articles share with my views, I include news articles to give readers another slant to my views or to illustrate what the mainstream news media say on the relevant topic. The opinions expressed are my own but I do not accept liability for them, If I have offended you or made a factual error please put on record the truth by leaving a comment. In addition, my thoughts and opinions change from time to time...I consider this a necessary consequence of having an open mind. This weblog is intended to provide a semi-permanent point in time snapshot and manifestation of the various memes running around my brain, and as such any thoughts and opinions expressed within out-of-date posts may not the same, nor even similar, to those I may hold today. For the record I am currently an Independent political activist and am not affiliated to any political party

One thought on “The Irish people have paid 42 percent of the total cost of the European banking crisis

  1. Pingback: Committing treason (This current Irish puppet government) | Machholz's Blog

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