Unpleasant Facts

Unpalatable Facts

Long Term unemployed get €188 per week – €819 per month whereas the (Hartz IV) in Germany is €359 per month ie 45% lower

This is a disincentive to take any job at €30 to €35,000 per year.

The Irish banks have €130 billion from ECB at 1%

The Defra Bank (in IFSC) cost Germany €102 billion in losses

Irish debt – Gross private sector debt was €340 billion in November 2010
Plus €160 billion of public debt

Unpayable with a population of about 1.5 million in full-time employment.

McWilliams writes that on January 31st, Anglo Irish Bank paid fully on an unsecured senior debt not covered by any state guarantee – €750 million. This is the same as the cut in the welfare budget.