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Ireland | Bank REO Real Estate
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Ireland seizes $7 billion from its Pension Fund to boost employment

June 13, 2011 by · Leave a Comment
Filed under: Global News 

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The situation looks dire in Ireland.  They have raided their pension reserve fund to use as a stimulus fund.  It is in my opinion that they should not of bailed out the massive real estate debts that were built up during the bubble.  Yes, there would of been major dishevel for a short amount of time but then they would not have the commitments they have now that is forcing austerity and slowing the recovery.  For some reason we are fixed on always keeping prices higher and not seeing the benefits that lower prices that (equates to higher value) brings when you have savers with capital that will sniff out value.

Business Insider – The government will  use the last €5 billion in the National Pensions Reserve Fund (NPRF) to help create employment although it will need approval from the International Monetary Fund (IMF) and Europe before doing so.

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Ireland looks to Middle East to buy its banks

December 13, 2010 by · Leave a Comment
Filed under: Global News 

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This is not a confidence builder in Irish banks when you are in talks with foreigners to purchase your banks.  These countries should not keep making the same mistake by bailing out the creditors and footing the public with the bill.  These banks make reckless decisions during a greedy real estate bubble and now should face the consequences of their actions, not the hardworking taxpayers that are struggling to get by in the worst economy in 50+ years.  But, we can’t seem to actually let losses fall where they may.   This will continue until the amount of debt we create globally will outstrip the income available to tax and then you will have a real problem on your hands.

Tehran Times – John Bruton, a former Irish prime minister, is leading a delegation from the country on a whistle-stop tour of the region as Ireland prepares to sell assets.

Irish officials are visiting sovereign funds in the UAE, Qatar, Bahrain and Saudi Arabia, where they have already met Prince Alwaleed bin Talal bin Abdulaziz Al Saud, the chief of Kingdom Holding and one of the world’s 20 richest men. Mr Bruton is the head of the International Financial Services Centre in Ireland, which aims to attract financial companies to set up there.

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Ireland to invest $13 billion in banking system recapitalisation

December 14, 2008 by · Leave a Comment
Filed under: Global News 

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More bailouts to come, it is the thing to do these days.  Hopefully the increasing of their public debt to put good money into bad companies will help.  At the end of the day we are only going to be left with the same banking system with government backing and large interest payments to work-off literally.

News: 

Ireland will support a recapitalisation of its financial institutions of up to 10 billion euros ($13.27 billion), the government said on Sunday.

Ireland was one of the first countries to respond to the credit crisis with a two-year guarantee for bank liabilities worth some 440 billion euros, but it has not bailed out or nationalised any banks, and they have not raised equity themselves.

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