A quick answer to your question and not straying from what you asked, my answer is, The taxpayer will, but it will be many many, years in the future.
A pity about them, sure we never had anything like that at all in our lifetime. Thankfully we got toilets inside before I reached my teens, a fridge shortly afterwards and I had great pleasure later in life to get some central heating for my hard working parents and grandparents who lived there as well. We won't mention the 22/24% interest rates we paid. Then again we never had the internet or mobile phones either, that's why we invented them for you and your grandkids
Wow, so the real cost of your debt was reducing by 22/24% each year. Yet another thing to add to the list of reasons why you had it better than those starting out now.We won't mention the 22/24% interest rates we paid
The fridge was for my parents, both dead now, bless them. My interest rates were because I didn't have a large deposit or parents/grandparents to give me anything. If you can't understand how bad things were only a short time ago I suggest you don't make condescending remarks to those of us who did have it really hard.Wow, so the real cost of your debt was reducing by 22/24% each year. Yet another thing to add to the list of reasons why you had it better than those starting out now.
Oh, and you had a house to put the fridge in. That's another thing the 20 somethings won't have.
I did know the hard times. I remember the late 70's and 80's.The fridge was for my parents, both dead now, bless them. My interest rates were because I didn't have a large deposit or parents/grandparents to give me anything. If you can't understand how bad things were only a short time ago I suggest you don't make condescending remarks to those of us who did have it really hard.
What should AIB do with their excess cash? They need to put it into highly liquid assets. Is there another country's debt you would prefer to see them holding?AIB boosts holdings of Irish bonds to €7.7bn
State-controlled bank AIB increased its holdings of Irish government bonds by nearly €2.5bn last year as the National Treasury Management Agency (NTMA) ramped up debt issuance to fund pandemic spending.www.independent.ie
Interesting article today in the independent that AIB boosted its holdings in Irish government bonds to 7.7 billion euros a 45% increase and Irish government debt now constitutes 70% of its total capital. The rest of the article is behind the pay wall. Still it's a bit curious that a state owned bank would invest most of its capital in the debt of the state that owns the bank.
Therefore indirectly savers in AIB are owners of Irish government debt and that's where some of their savings are going now. Thanks to the ECB those savers are getting virtually no interest and the Irish government is getting very cheap credit. Viva la Republic
I don't understand what you are saying here because this is the sentence from the independent articleThey haven't actually invested their capital in state bonds, but the amount equates to 70% of their capital.
Im not taking it off topic, because the topic is about how The government is funding the Covid borrowing . Im not saying anything improper is going on Im just shining a light into the area which most people don' t consider. The government is getting cheap credit from its own bank and savers in that bank are actually paying in a small way for the Covid response .But I fear you're taking your own thread off topic now. AIB were holding Irish bonds long before Covid. But in the last year they've got extra cash, so they've bought extra bonds.
I don't understand what you are saying here because this is the sentence from the independent article
"Figure represents 7pc of bank’s total assets and 70pc of its capital"
Im not taking it off topic, because the topic is about how The government is funding the Covid borrowing . Im not saying anything improper is going on Im just shining a light into the area which most people don' t consider. The government is getting cheap credit from its own bank and savers in that bank are actually paying in a small way for the Covid response .
"Figure represents 7pc of bank’s total assets and 70pc of its capital"
Still it's a bit curious that a state owned bank would invest most of its capital in the debt of the state that owns the bank.
The alternative is that somebody else buys the bonds from NTMA, at a negative yield. And AIB has to find somewhere else to place their excess deposits, at a negative yield.Im not saying anything improper is going on Im just shining a light into the area which most people don' t consider. The government is getting cheap credit from its own bank and savers in that bank are actually paying in a small way for the Covid response .
There may be some additional security costs the state needs to pickup.A quote from The Irish Independent from a Government minister....."He said he expected the estimated cost of mandatory hotel quarantine to now exceed the projected €7m. He said as further hotels were added the cost would increase."
I thought that those individuals who were staying in mandatory quarantine were paying top dollar for the privilege?
Where do the other costs come in to justify €7m?
You are misinterpreting the conclusions of the Lancet study.Throughout Covid we were being told by the media and government that over 4000 people died from Covid yet a study in the lancet journal showed that Ireland had the lowest excess deaths from Covid of any country with just over a 1000 excess deaths from Covid or only 25% of the official statiistics
Exactly; fewer road deaths and deaths from other causes but also plenty of people who would have died otherwise who had Covid when they died and so were shown as Covid deaths.You are misinterpreting the conclusions of the Lancet study.
“In Ireland, the study estimates there were an additional 1,170 excess deaths from all causes over the period in which 5,910 Covid-19 deaths were recorded.”
In Ireland you wouldn't have been included in the death stats ... I thought it went from the death cert causes, which is why the lag in deaths were so pronounced. It's not automatic that a positive covid means it is included. A heart attack is a murky one because covid could be a contributing factor. But as we would expect a certain number of people to die from hearts attacks etc in the year, that is where the excess death figure comes in.Exactly; fewer road deaths and deaths from other causes but also plenty of people who would have died otherwise who had Covid when they died and so were shown as Covid deaths.
If I was Covid positive but died of a heart attack or was run over by a bus I would have gone into the Covid deaths statistics. Thereofre it is fair to say that the real figure of those who died from Covid is lower than the number who died with Covid.
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