Thread: Irish mess
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Old 22-11-10, 12:06 PM   #3
eviltwin
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Default Re: Irish mess

Ed, I guess we have to view it as a business decision and think purely in terms of economics, rather than politics. I suppose it makes sense for Britain to lend the money...it is, after all, a loan not a handout so will be repaid with interest - an investment.

I presume it will also protect British business, in that if the Irish economy collapses entirely, Anglo-Irish trade will be hit. As I understand it, Ireland is our biggest trade partner - so the loan helps UK plc.

Plus, there's the added element of the state owned bank such as RBS holding books of Irish debt. About £35 billion of our (UK taxpayers') money that would go up in smoke if Irish banks collapsed.

Last edited by eviltwin; 22-11-10 at 12:07 PM.
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