Comments: Letter to the Irish Times

Well said.
four million 100 billion...

Posted by Patrick O'Sullivan at April 12, 2009 02:14 AM

> Jonathan Cummins wote
> Good one.
> :) J!

My reply ...

Thanks man,

It really is essential that this "measure" is nipped in the bud now before the government goes to the market to indebt the country to save the banks and the speculators. An exposure to a debt that could grow to 50% of the Gross Domestic Product or 12 years of 100% of current tax income is impossible to sustain. It will bankrup the country. Even if these properties are worth half of the debt that was (supposedly) accrued to and (a really big if) the Irish goverment can manage to sell the international and national properties recouping the other 50% in cash then it could take decades to recover and Ireland could sink back into a 1980's slump.


Posted by Tony Phillips at April 14, 2009 02:45 AM

gratifico tu preocupación por los problemas de este lado del mundo y tu permanente búsqueda de alternativas y propuestas superadoras.felicitaciones por tu graduacion universitaria!!

Posted by mono at May 3, 2009 06:58 PM