Let's invade China

Our Government tried not to take this 'loan' and have a hair shirt budget ready for next week.  Germany, the UK and northern European countries are running scared and have insisted we take it.  
Did the IMF not go into the UK during the 80s?  So yes VS other countries have helped you out.

 Blimey, was it paved with gold?

Nah, just yellow bricks.

It was at the end of the Rainbow Blizzie and the Very Rev Ian Paisley  (hasn't he been made a Lord)  has been laughing ever since.  It bought the Good Friday Agreement and as I said we don't know how much more was given.  
It was actually 8 billion.

But we're skint and cut backs etc etc just shows they can find money when they have to

Grumpy, because of all the belt tightening we have done and said we will do we are now credit worthy . When it comes to borrowing money from the rest of the world or anyone who would agree to lend us money we stand a good chance. We could have been in the same situation as Ireland had we stuck with let's borrow and inject more cash into our economy to stimulate the economy.

After the general election before the coalition forming the new government, Alistair Darling (not a member of the jumped up Bullingdon/Eton clown club) signed a European agreement that would force us to pay up in situations like this, had George Osborne (a member of the jumped up Bullingdon/Eton clown club) not offered to help Ireland out of the dilemma it is in we would have had to pay 20 billion or more forced by EU instead of the 7 billion we are offering .

Now, we don't have 7 billion cash to use ourselves let alone lend it, but we are in a very good position to Borrow at a very low interest rate (for the reason explained above) and lend it to Ireland at a higher rate. I believe there is an agreement that this money will be paid back to us within 3 years or so.

Why do we need to help Ireland? Because over 7% of our GDP is reliant on Ireland, here is a comparison. The Irish buy from us the equivalent of what India+China+Brazil+ Russia put together buy from us. Those 4 countries are the fastest growing economies in the world right now but don't want to play ball with us. So, stretching out a helping hand to the hand that feeds us is an honorable thing to do even if there was no self interest in it for us.

As for your first post in this thread, back in the 70s UK was almost bankrupt it recieved monetary support from other countries, let's hope we never have to go round with a begging bowl asking for money again.

 

Good post ^^^^^^^^^^^^ Blue Diamond

Tayto, it was in the 70s, I am not 100% sure but I think the situation was so bad that the IMF did not help it was other sovereign countries that helped us out of the dark days. I have been meaning to look this up for a long time but never get a chance to do it.

I just checked into the last time the UK had to be helped by the IMF and from the Times Online it was 1976

Britain has not sought IMF help since 1976 when, with inflation approaching 27 per cent, Denis Healey, then the Chancellor, applied for a loan, shredding confidence in the Labour Government.

here's the link if anyone wants to check

http://business.timesonline.co...e/article5989746.ece

I just hope we are not throwing away good money after bad or it will be never ending, we have not  felt the bite yet what is going to affect us by all the harsh cuts this government have made so I can understand why people in this country are annoyed but also accept we have to do this for Ireland for most of the reasons given above.

Thanks squiggle, I have been told James Callaghan's Biography has detailed reference to that period, next time I am at the libary I'll look it up.

Kind of yes.


We can also find the money to increase the amount we give in foreign aid - to countries that don't even need it.  It is disgraceful.

How much are Britain spending on sending forces to the War, a War that had nothing to do with them?

Don't know.  You tell us.

I don't know that's why I asked. Wouldn't the money being spent there be better spend on the British citizens instead of leaving them in dire straight instead of fighting in what many might say is an un winnable war.

Absolutely agree with you.  Our soldiers should not be over there and the sooner they come home the better.

I agree, I wasn't trying to be controversial by the way. I remember discussing this topic when Ben and Steve were arguing about it in BB and saying how Britain should put their own people first.

It is a controversial subject and a heartbreaking one, Yeah, I know you weren't trying to be controversial.  It is a controversial subject though and a heartbreaking one.

Ah, but the women who are now allowed to play football, on the same pitch that used to be used for executing women for adultery, or even just meeting a man who wasn't their husband, or family member, might feel differently!

Can I just say on behalf of everyone in Ireland, Thank you, and we will try are very best to get it all back to you (with interest of course). Oh and can everyone please come visit as we'll not be able to go anywhere for the foreseeable future.
and we feel no pressure ref the while eurozone collapsing (and when it does it wasn't our fault kay ).

Moonie!  

I have great sympathy with Irish people but they've been shafted by the rich bankers and the mostly rich property speculators, just like the UK people have.  The so-called wealth creators who pocketed fortunes from taking risks that others are now being asked to pay for. 

Those who didn't benefit from the property boom because they couldn't afford to get their feet on the property ladder in the good times here in the UK are the one's who are being clobbered the hardest and I expect it's much the same in Ireland.

I read recently that there's a new wave of Irish immigration due to the dire employment prospects in Ireland.  Can't blame them either.  If I was younger and didn't have family concerns I'd immigrate from the UK in a heartbeat.  The UK will be screwed for the next seven years at least.  I really can't see things getting better and by the time the Tories are finished, they'll be nothing left worth having that hasn't been sold off to their mates or cut to the bone.  Rupert Murdoch will be the de-facto president of America's mini-me.

Moonbeams, why apologise or say thank you? If the English don't do something now, then when?

Plug the hole.

Or flood.

2;1 Economics.