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Ireland Debt Crisis

By the time of this posting at my blob, the EU would have approved and sign off the Ireland Euro 85 Billion package.

Ireland is the 2^nd EU member after Greece package of Euro 110 billion, this amount is from EU approval in May 2009 of an amount of Euro 750 billion that is set aside for the EU nation debt crisis. This crisis is a problem from the massive budget deficit that the PIGs nations are running, while some may be on the brink of needing rescues.

Talking about some other EU nations whom may be in need of these rescues package also – next in line may be Portugal and then Spain; both these two nations are so close in economic ties that once Portugal is “hit” then Spain will catch the “flu” too.

Incidentally Greece 1^st repayment is due in 2011 -2013 amounting to Euro 55 billion. Will they ask for an extension? Dubai is one case of interest, they are recon to be in favor of selling off assets as an avenue to pay off their USD 110 billion of debts.

While all will be aware of the US, UK and Europe risk the excessive household loans and corporate debts, to a great extend government massive debts. We have to be mindful that their upward trend or momentum is weighted down by their massive debts. The take is that moving forward much more funds will flow into Asia.

Have a great week ahead.

Tj