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Bill Bonner The Daily Reckoning Business Insider 3/4/2011 “Ireland is broke,” said our taxi driver. We like to ask cab drivers about the economy. Not that they understand anything any better than the average central bank economist. But they talk to people. Without cameras or tape recorders in the background. And they have their own […] March 4th, 2011 | Tags: Bank of England, Bank of Ireland, Celtic Tiger, European Central bank, Ireland, Mervyn King, mortgages, national debt | Category: Banking and finance, Economy, European Union, Germany | Comments are closed
“…the interest on our debt could reach €12bn [$16.6 billion US] by the end of next year. This would eat up roughly 85pc of income tax revenue. That is an impossible burden and clearly unsustainable. That is just a beginning. We are required by the EU to take on the debts […] February 28th, 2011 | Tags: bailout, Celtic Tiger, Common Market, Enda Kenny, Fine Gael, International Monetary Fund (IMF), Ireland, revolution, Taoiseach | Category: Banking and finance, Economy, European Union, Politics | Comments are closed
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