Well what a surprise.
The UK Chancellor is now saying what I have been saying for weeks.
The Irish bail out is only the start!
The British are powerless to say 'No' and apparently after the previous Chancellor Alastair Darling we will have to pay an 8th of all debt bailouts plus we cannot opt out of the EU until 2013 at which time we could be bankrupt!!!
I reckon we will need to fund the EU by another STG 100bn.
So as riots engulf the Irish capital yesterday, the picture emerges.
British banks have debt to Irish banks of between STG 88-150 bn
Th EU has ordered us to pay for a start STG 7 bn.
The Irish Total National debt is 76 bn.
So on this alone Ireland has spent between STG 164-226 bn more than their revenues.
Eh!!! something seems wrong here the numbers don't add up and are crazy!!
Yes and now wait until SPAIN and PORTUGAL announce they need help.
Look to the magix STG1 Trillion of bail outs for the EU to be found by mainly 8 countries which incl:
Germany
France
UK
Netherlands
So about STG 120bn in total for each.
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