Tuesday 12 June 2012

Some Rather More Tangible Help For The Irish

But enough of your soft diplomacy - here's the real deal.  From the Irish Independent

UK slashes its interest rate on our £7bn bailout loans: the UK has cut the interest rate it charges Ireland for £7bn of bailout loans -- with the Government now set to pay dramatically less to borrow from our nearest neighbour ... Under the new pricing the UK will charge Ireland just 0.18pc above its own borrowing costs for the bailout loans, and the new rate applies to all past and future loans ... would mean Ireland could borrow from the UK at less than 2pc. 

Haven't done the detailed sums yet, but this would appear to be a bit more costly than lending them the Olympic flame.  Funnily enough I can't find it being reported in the UK press this morning ... (though I don't have full access to the FT).

Not sure what message this sends to Alex Salmond ...

ND

5 comments:

Demetrius said...

The minstrel boy to the bank has gone, in the ranks of debt you will find him.

James Higham said...

Funnily enough I can't find it being reported in the UK press this morning ... (though I don't have full access to the FT).

The FT is the press?

Budgie said...

Arab proverb (I am told): "The English buy their enemies and sell their friends".

Given our parlous economic state why are we subsidising the Irish, the Argentinians, the whole damn eurozone including Germany (by not helping to bring down the euro)? Why did we sell the Harriers for £112M when we have increased our DfID drain to around £10B?

This government is worse than Labour; at least everyone knew Brown was a head case.

Electro-Kevin said...

Budgie - because it's all academic. It's over.

The politicians are trying to get back to growth - at least that's what they're telling us.

It can't be done. Here's why :

http://www.chrismartenson.com/page/crash-course-one-year-anniversary

So there's nothing to be lost in pretending.

Anonymous said...

@ek
Taken to punting Internet get rich schemes eh kevin ? Just saying.....