Showing posts with label Debt. Show all posts
Showing posts with label Debt. Show all posts

Sunday, 28 November 2010

Republic Of Ireland:Bailout Or Serfdom?


The Republic of Ireland is currently negotiating a financial "bailout" with the European Union and International Monetary Fund.

The loan package includes a total of £85,000 Million Euros.

The interest rate to be paid on this loan has not been disclosed.


At that rate the annual interest alone would come to 5,695 Million Euros a year.

The Republic of Ireland has only 1,859,500 workers in employment to pay that bill.

Each worker will have to pay 3,063 Euros a year just to pay the interest on the loan.

In addition they will have to pay back the loan it's self and repay any other debts the nation owes.

The magnitude of that debt will result in the Irish people being effectively reduced to serfdom for the forseeable future.