Cheery economic numbers in March

Irish Ten-Year bonds hit 9.7%

The markets basically believe that the Irish state will default to some extent on its huge debt. The bailout deal of €67.5 billion is both unfair and impractical.

Money – general budget deficit 2011 to 2014 is €24 billion.

The cost of increasing bank tier 1 ratio to 12% will ne another €10 billion but might be as much as €35 billion.

NAMA is to but another €16 billion in toxic loans from the banks.

Existing government stocks of €28 billion will be redeemed between 2011 and 2014.

Senior and bank bonds of €41 billion are due between 2011 and 2014.

Banks had another €17 billion withdrawn in January alone.

The Central Bank has put €70 billion into the banks and the ECB has put about €120 billion into the banks at 1-1.5%

Anglo Irish owes €45 billion to Irish and European central banks and a further €6 billion to bondholders. Its biggest asset is €25.7 billion in promissory notes issued by the Irish government.

The Irish state is owed €45 billion by the banks, NAMA owes???, the ECB is owed €100 billion, the bondholders owed €63 billion, Central Bank owed €70 billion