Comments on: €1.3 TRILLION REASONS WHY IRELAND HAS AN OVERDRAFT FOR AN ECONOMY http://dublinopinion.com/2007/10/02/over-one-trillion-reasons-why-ireland-has-an-overdraft-for-an-economy/ It's a group blog. What more do you need to know? Thu, 09 Feb 2012 15:26:41 +0000 http://wordpress.org/?v=2.2.1 By: Thriftcriminal http://dublinopinion.com/2007/10/02/over-one-trillion-reasons-why-ireland-has-an-overdraft-for-an-economy/#comment-38017 Thriftcriminal Thu, 04 Oct 2007 12:34:35 +0000 http://dublinopinion.com/2007/10/02/over-one-trillion-reasons-why-ireland-has-an-overdraft-for-an-economy/#comment-38017 I remember Fantasy Island. One time there was a chap who wanted to be a vampire. I think he was called Bertie? I remember Fantasy Island. One time there was a chap who wanted to be a vampire. I think he was called Bertie?

]]> By: Donagh http://dublinopinion.com/2007/10/02/over-one-trillion-reasons-why-ireland-has-an-overdraft-for-an-economy/#comment-37871 Donagh Wed, 03 Oct 2007 14:50:47 +0000 http://dublinopinion.com/2007/10/02/over-one-trillion-reasons-why-ireland-has-an-overdraft-for-an-economy/#comment-37871 After watching the last of the Generation Game the other night it all seems to impossibly easy. Its like the 1950's again, with the diaspora bailing us out: so now the letter from home reads: "send money quick, the economy is sinking". Michael Taft has a <a href="http://notesonthefront.typepad.com/politicaleconomy/2007/10/post-1.html" rel="nofollow">great piece</a> on this saying: "we might only be fuelling a situation that Michael Hennigan highlights with such fervour: that overseas commercial property investment was €5 billion in the first half of this year while in that same period venture capital investment in Irish tech companies was €62 million." But sure you knew that anyway. After watching the last of the Generation Game the other night it all seems to impossibly easy. Its like the 1950’s again, with the diaspora bailing us out: so now the letter from home reads: “send money quick, the economy is sinking”.

Michael Taft has a great piece on this saying:

“we might only be fuelling a situation that Michael Hennigan highlights with such fervour: that overseas commercial property investment was €5 billion in the first half of this year while in that same period venture capital investment in Irish tech companies was €62 million.”

But sure you knew that anyway.

]]> By: Tomaltach http://dublinopinion.com/2007/10/02/over-one-trillion-reasons-why-ireland-has-an-overdraft-for-an-economy/#comment-37767 Tomaltach Wed, 03 Oct 2007 08:43:05 +0000 http://dublinopinion.com/2007/10/02/over-one-trillion-reasons-why-ireland-has-an-overdraft-for-an-economy/#comment-37767 At first I thought the headline looked shocking. Then I looked at the list of the top 10 indepted countries as shown in the CIA factbook, and I thought hey, most of the top 10 are pretty solid economies, Germany, Japan etc. It was only then that it hit me that the top ten list is <b>absolute</b> debt and <b>not debt per capita</b>. With that in mind it really does pack a punch. Using round figures it shows we are 26 times more indepted than Japan, 7 times more than Germany, 6 times more than France, and 2.5 times more than our neighbours in the UK. The CSO report adds a slight qualifier "<i>it should be noted however, that much of this external debt is offset by holdings of foreign financial assets by Irish residents</i>". I would like to know how much, and what kind of assets and how does this compare with the structure of the debt of those other countries that we have vastly outstripped on a per capita basis. At first I thought the headline looked shocking. Then I looked at the list of the top 10 indepted countries as shown in the CIA factbook, and I thought hey, most of the top 10 are pretty solid economies, Germany, Japan etc. It was only then that it hit me that the top ten list is absolute debt and not debt per capita. With that in mind it really does pack a punch. Using round figures it shows we are 26 times more indepted than Japan, 7 times more than Germany, 6 times more than France, and 2.5 times more than our neighbours in the UK.

The CSO report adds a slight qualifier “it should be noted however, that much of this external debt is offset by holdings of foreign financial assets by Irish residents“. I would like to know how much, and what kind of assets and how does this compare with the structure of the debt of those other countries that we have vastly outstripped on a per capita basis.

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