Re: Irish mess
On the news its said RBS had leant a lot of money to Ireland it was over 100 billion pounds, which was leant to fuel their property market, the report went onto say that 20% of properties has gone into negative equaity.
The state owns 2/3 thirds of RBS so to lose that money, would casue a few problems...The report went onto say that many people in Ireland have taken their money out of the Irish banks.
How could so many bad choices have been made? With the UK giving out a loan, it will be more than the savings made by the cuts then the UK will have get a loan togther to make this payment to prop up a failing banking system. Whats to say that more money won't be need in near the future?
Ireland is also one of our biggest trading partners.
What happens next as more countries need a loan?
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