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Re: Ireland to Steal pension money
FIRE feasts on the collective, longtime, hard-earned wealth. -
Re: Ireland to Steal pension money
Ireland, bizarrely enough, has a relatively low level of net foreign debt. Apparently the country has generally run a balance of payments surplus, except in the past few years, and has now returned to surplus again. So the accumulated net external debt is surprisingly low.
That means that the state can potentially extinguish much of its foreign liability by confiscating the foreign and domestic savings of its citizens, which rest largely in their pensions. Music to the ears of some .. but will the Irish stand for it? See link for more background.
German Economist says Irish Pensions Can Pay Our Debt
The world is fortunate to have the guinea PIIGS available for testing out these various methods for saving banks.Comment
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Re: Ireland to Steal pension money
It's sickening.
Eastern BelleComment
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