It’s official as of today. We’re worse than Greece.
The Eurostat boys weren’t fooled by Biffo’s attempted Eurostroke and refused to pretend that the money he pumped into the banks was something different from the national debt.
As a direct result of trying to prop up Anglo and Nationwide, Ireland’s government deficit, as a percentage of GDP, is higher than that of Greece and Britain.
Here are exact Eurostat figures for the ten worst, with Ireland at the top of the list:
United Kingdom (-11.5%),
Now, you might remember when Biffo and Yehudi first announced that they were going to borrow mind-boggling amounts to save the banks, they told us that it would stay off the balance sheet. It wouldn’t increase the national debt, they said. They claimed to have done some kind of deal with the EU to pretend the money was somehow different from real debt.
This is the true cost of bailing out the bondholders in Seanie Fitz’s joke bank, and Fingers Fingleton’s personal get-rich scheme, but that isn’t the end of matters.
It’s going to get worse, because these figures only reflect the taxpayers’ money they’ve put into these gigantic con-jobs so far. It doesn’t take account of the money Biffo and his crew are planning to pour into the black hole.
Of course, it doesn’t have to be that way. They could wind Anglo down in an orderly manner, and pull Nationwide’s shutters today without impacting on the economy. Anything contrary they tell you is a lie.
There must be some seriously high-grade secrets hiding in Seanie’s filing cabinet, and scrawled on the back of Fingers’s cigarette packs.
Who did these two cowboys hold embarrassing paper on? What do they know about the finances of politicians, police, senior civil servants and most interestingly of all, newspaper editors?
Who do they own?
Answer those questions and you’ll know why Fianna Fáil are prepared to destroy this country to save these two pyramid schemes.