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Should we bail out Ireland?


Mel B

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Heard a bit of the Jeremy Vine show on Radio 2 today, where they were discussing the situation in the Irish Republic and whether or not the UK should help them out.

 

One person thought we should as we had had 'colonial rule' over them in the past and 'owed' it to them. If we did agreed that we should we'd end up paying to loads of other countries too who we'd 'ruled' in the past

 

The other totally disagreed - we haven't ruled them yonks so why should we bail them out - they've enjoyed the good times and the payouts from Brussels so let them go back and ask the EU for more, not us.

 

What's your view?

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My personal answer NO! I was working outside Kings Cross station when they bombed it they want all of Ireland they can have it and pay their own way. I don't normaly get worked up but the cowards bombed us then ran back to the republic crying that its not fair if our soldiers shoot to kill. I'm fuming that the idea even crossed their minds. John >:-(
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Absolutely not! The Irish decided that they did not want to be part of the UK many years ago and when they joined the Euro that also signified that they saw their future as being in the Eurozone - so let the Eurozone bail them out.

 

The Irish people made their choices and just as I would not expect Ireland to bail us out if they were the stronger I don't see why we should help their economy when our own is in such dire straights?

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Certainly not. They've had the good times, now comes the day of reckoning. Mickey Mouse country, who thought they had suddenly become big players within th EU.
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Brian Kirby - 2010-11-12 6:13 PM

 

Only if it reduces the price of Guinness!  :-)

Second that Brian. But only the proppr stuff you get over there. The Guinness you get here isn't the same, unfortunately.
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peter - 2010-11-12 10:25 PM

 

Brian Kirby - 2010-11-12 6:13 PM

 

Only if it reduces the price of Guinness!  :-)

Second that Brian. But only the proppr stuff you get over there. The Guinness you get here isn't the same, unfortunately.

 

Indeed....... its all in the water :-D

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Sorry Mel, As I posted on European Gravy Train thread

This one AGAIN is down to G.Brown esq."

 

Unfortunately, it looks like we are due to be affected very shortly.

If Eire is rescued by the EU, the UK is committed to 12% of any rescue package, a quoted to be Euro60bn/£57bn.

Apparently this is due to an agreement signed last year by our illustrous former leader Grabbing Gordon.

Was that guy on commission

Yet another fact obscured at the time. "

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malc d - 2010-11-17 11:28 PM Surely whether or not we should help to bail them out depends on what effect it would have on us if they go bust. But I doubt if anyone knows for sure what that effect would be. :'(

It seems to be mainly the Irish banks that are in the doo doo, the government having broadly done what is thought necessary to control its fiscal problems.  Unfortunately, the Irish government underwrote Irish bank debts, to prevent, as they saw it at the time, wholesale collapse of the Irish banking sector.  The banks debts are said to be equal to one year's Irish GDP.

UK banks bought a lot of the Irish banks' bonds, etc, before they got into trouble, so, if the Irish banks were to fail, the UK banks would suffer huge losses. 

Our contribution to the rescue package will, therefore, help underwrite the Irish government's underwrite of the Irish banks' debts, so averting the possibility of further heavy losses and possible collapses within the UK banking sector.  I hope that is not too Irish!  :-)

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Brian Kirby - 2010-11-18 2:24 PM
malc d - 2010-11-17 11:28 PM Surely whether or not we should help to bail them out depends on what effect it would have on us if they go bust. But I doubt if anyone knows for sure what that effect would be. :'(

It seems to be mainly the Irish banks that are in the doo doo, the government having broadly done what is thought necessary to control its fiscal problems.  Unfortunately, the Irish government underwrote Irish bank debts, to prevent, as they saw it at the time, wholesale collapse of the Irish banking sector.  The banks debts are said to be equal to one year's Irish GDP.

UK banks bought a lot of the Irish banks' bonds, etc, before they got into trouble, so, if the Irish banks were to fail, the UK banks would suffer huge losses. 

Our contribution to the rescue package will, therefore, help underwrite the Irish government's underwrite of the Irish banks' debts, so averting the possibility of further heavy losses and possible collapses within the UK banking sector.  I hope that is not too Irish!  :-)

There's also the fact that Ireland is one of our main export customers so I see it as in our interests to see them stable.
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Is there by any chance any other country that helps to bail out Britain?

Why is it always a one way street, us helping all and sundry out of the mire.

America helped us out during the last war financially and with weapons etc and it took us a long time to repay our debts but pay it we did

The more we help everybody else the longer it is before we get straight up.

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Guest JudgeMental
If it wasn't for an Irishman (Duke of Wellington) you would all be half French by now...probably would have improved the gene pool no end, or at least the cooking *-)
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