National Debt of Ireland v UK

Erm, no. Latest Eurostat figures are for[broken link removed]. General Government Debt.

Ireland: €180 billion
UK: £1,318 billion

Sterling has fallen significantly against the euro in the past month from €1.25 to €1.17. Taking a rate of €1.20, the UK's debt is €1,580 million - nearly nine times larger than Ireland's.

Using the more common Debt/GDP measure Ireland is at 111.5% compared to 86.0%. This year the UK is forecast by the EC to run a deficit of 7.5% of GDP. The forecast for Ireland is 7.2%. Not a lot of difference there.
 
Per capita, Ireland's debt is approx 1.5 times that of UK.

180 / 4.5(RoI pop) versus 1580 / 60 (UK pop approx) = 1.5 times
 
I cannot say for sure what they are referring to as the link you posted does not seem to be to the article you are referring to.
I imagine what they are talking about is one of two things:
1) As slim points out, it is per capita debt
2) It is total external debt:
Ireland: $2.352 trillion
UK: $1.16 trillion

Although the latter would be more like twice the total debt, which in my opinion is the more alarming number.
 
Cheers guys for the info.

Chris said:
I cannot say for sure what they are referring to as the link you posted does not seem to be to the article you are referring to.
Click to expand...
What I had quoted was in the comments at the bottom of the article which I linked to. The comment which I have quoted appears to have been removed today though.
 
Slim said:
Are you serious? €2.35 TRILLION? How is that calculated?:confused:
Click to expand...

government debt + personal debt + corporate debt

I think Constantin Gurdiev wrote about the breakdown in the past so might be worth checking out his blog.
 
Chris said:
government debt + personal debt + corporate debt

I think Constantin Gurdiev wrote about the breakdown in the past so might be worth checking out his blog.
Click to expand...
IFSC. Totally and utterly irrelevant as a measure of net indebtedness of the Irish economy. This will be backed by assets but even so, who cares, it is almost all down to multinationals. Not that that would stop Comrade Gurdy pedalling his "we are doomed" mantra:mad:
 
Duke of Marmalade said:
IFSC. Totally and utterly irrelevant as a measure of net indebtedness of the Irish economy. This will be backed by assets but even so, who cares, it is almost all down to multinationals. Not that that would stop Comrade Gurdy pedalling his "we are doomed" mantra:mad:
Click to expand...

Yes a large part of that is IFSC debt, according to finfacts it was €800 bn in 2010: http://www.finfacts.ie/irishfinancenews/article_1019228.shtml

That still leaves €1.5 trillion and the value of the asset backing is the problem.
 
You must log in or register to reply here.
Back
Top