Year end summary of Irish financial woes

Anglo Irish Bank Bailout so far – €29.3 billion so far. (This week €6.4 billion paid over -total consists of €25.3 billion in promissory notes and €4 billion in cash)

Anglo Irish got €4 billion in 2009, €10.44 billion in March 2010, €10.054 in August. €22.9 has already been given to Anglo.

Irish Nationwide €5.4 billion – €100 in cash and €5.3 billion in promissory notes.

The cash payments will begin in 2011 to honour the promissory notes. The government will put €3.14 billion of cash into the banks each year for 10 years.

The Financial Regulator says that anglo may need another €5 billion to cover worst case scenarios if the property market does not recover for 10 years.

The wind down over time plan for both of these institutions will be submitted to the Commission before the end of January. The deposits of €14 billion in Anglo and the €4 billion in Irish Nationwide will be transferred to other banks in the state.

Ireland – loans from EU will be €40.2 billion over 2011 and 2012. that is nearly half the total €85billion. The EU and the European Financial Stability Fund (EFSF) will go to gthe bond market to fund their triple A rated bonds to raise the money. They will raise €17.6 billion in 2011 by this mechanism in €3 to €5 billion tranches. Basically, we (Ireland) are an insolvent entity and the EU gang are subsidising our borrowings to pay day to day government bills. In return we do not cause the collapse of the euro and we pay for the tier 1 liquidity ratios of some of the German, British and French banks because we nationalised the debt of our incompetent banks caused by incompetent bankers, Irish and European Central Bank regulators, idiot and wreckless property speculators, clueless Department of Finance officials and FIANNA FAILERY.

Fianna Fail – F the country – Win the election.