Sunday, November 28, 2010

6.7% Interest for Ireland ?

Telegraph: Reports that Ireland could be charged 6.7% in interest payments for the bailout from the EU/IMF and the UK. If Irish opposition politician would tell the EU get lost, according to economic experts Ireland can not afford that kind of interest, its in the political interest of the EU/IMF for Irish to come back strong, if they are in debt prison for a decade this will not help Ireland and the UK. Lets recall the World War One debts allowed for the raise of Hitler in Germany, thus lets hope EU is not making the same kind of mistake, not that Ireland will produce a Hitler but could force the Irish to default and this could wreck the banks in Europe, this could lead to the raise of the extreme left and right, history does repeat itself. Thus Ireland should ask for a better deal or state it will default on its loans and cause a major banking collapse.

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