Quote:
Originally Posted by Neil
I would like to know why as well.
We were told we should bail out Ireland because our banks had investments there but would it not have been cheaper to let Ireland fail and just bail out our banks instead?
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The UK is actually making a few quid out of that deal, in simplistic terms because Ireland has a poor credit rating, the UK, along with other countries, borrowed on their behalf at a lower interest rate, gave them the money and now charge Ireland a higher interest rate than the borrowers are paying to the banks.
It's one of the reasons why the Greeks are telling the Eurozone to get stuffed, and they have a point, Germany et al, get richer by charging exorbitant rates which the population of Ireland, (and soon to be Spain), have to pay back, because they were suckered into joining the Euro and now have the financiers of these countries, (who incidentally got Irelan