You could lose your deposits, could you also lose your debt?
it is likely that the imf would step in before we actually default.
They would take charge of our finances and reduce public service pay and pensions and social welfare payments by around 40%. Our public health system and schools would be slashed. It wouldn't be long before we realised how good they actually were, in retrospect.
There would be a lot of social unrest but we would get over it.
I presume that the the imf would have to do something about our national debt as well e.g. Postponing payments or doing some sort of settlement.
At the moment, the international bond markets charge 4% more for irish government bonds than german government bonds. This suggests that default is unlikely but more likely than the german's defaulting.
It is likely that the IMF would step in before we actually default.
It is likely the government would raid them to pay for the politicians perks and expenses and salaries.It is called the pecking order
It is likely that the IMF would step in before we actually default.
They would take charge of our finances and reduce public service pay and pensions and social welfare payments by around 40%. Our public health system and schools would be slashed. It wouldn't be long before we realised how good they actually were, in retrospect.
There would be a lot of social unrest but we would get over it.
I presume that the the IMF would have to do something about our national debt as well e.g. postponing payments or doing some sort of settlement.
At the moment, the international bond markets charge 4% more for Irish government bonds than German government bonds. This suggests that default is unlikely but more likely than the German's defaulting.
Are you referring to the postal savings
I am not sure about that Brendan. On a purely mathematical basis it suggests the chances are quite high. 4% over 10 years is 40%. But that assumes 100% loss on default. More likely there would be a restructuring or a reduction and the actual loss would be much less than 100%. This suggests that the markets think the chances of some sort of default in the next 10 years are much higher than 40%, maybe 80%.At the moment, the international bond markets charge 4% more for Irish government bonds than German government bonds. This suggests that default is unlikely but more likely than the German's defaulting.
well in argentina they frooze the citizens accounts and changed all dollars (even if different currency) divided by 3 on top off that they implemented a 30% tax... bottom line dont keep money in irish banks...
Our public health system and schools would be slashed. It wouldn't be long before we realised how good they actually were, in retrospect.
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