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Re: Election 2010: Teabaggin' the Ds & Rs
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Originally Posted by Adder
'cause the ECB, and more importantly German, say so?
ETA: Btw, it isn't just the populist backlash. Even if it had political support, there isn't any way Ireland will be able to repay the loans. It's filled with properties for which there is no demand, which is only going to get worse as emigration picks up again. Ireland is fucked, at least until Germany realizes that it has to allow them to restructure.
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There's enough demand if the pricing reflected the resources of those wanting to live in Ireland. The problem is the level of debt (under)secured by those properties. If they could write off ~75% of the mortgage debt, they'd be okay on the demand.
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never incredibly annoying
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