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ECONOMICS – FINANCE – WORLD NEWS – GREEK DEBT

Return to the headlines, Iceland and Ireland don’t want to pay

Like the ghost from Christmas past, Iceland and Ireland are making headlines again, both on the topic of not repaying their debts. Iceland, which held a referendum concerning the repayment of bailout debt to the UK and the Netherlands in 2010, has been relieved from the remaining £2bn outstanding to the British government. The reasoning of the EFTA (European Free Trade Association) court? They’ve learned their lesson. Meanwhile in Ireland, the ECB rejected a debt relief proposal regarding the €30bn EU-IMF bailout of Anglo Irish Bank. At present, Ireland has to repay €3.1bn per year, ending in 2023. read article

Another potential problem looming for Irish banks is the next round of stress tests, set for this autumn. With the domestic economy still shrinking and mortgage arrears much higher than anyone expected, the banks may require additional capital.

The investigation into batteries used in Boeing’s Dreamliner took pressure off of manufacturer GS Yuasa, shifting the attention to the battery monitoring unit, produced by Kanto Aircraft Instrument. The Dreamliner fleet has been grounded since January 17. All Nippon Airways has cancelled 459 flights until January 31 so far. Until about five years ago, Japanese airlines used Boeing jets almost exclusively. Deregulation opened the market to Airbus, which seems to be winning more ground as the Dreamliners stay on the ground. read article

In other news, Queen Beatrix of the Netherlands is abdicating in April, leaving the throne to her son Prince Willem Alexander, Sarah Palin was paid almost $16 per word as a commentator on Fox News and the German governing coalition has agreed to hold the national elections on September 22.

Also, as opposed to what you might have gathered in some of today’s headlines, France’ Labor Minister did NOT say France was bankrupt, he was merely mocking the past government’s take on the country’s finances. 

Finally, a post-mortem of the Davos ‘thank god we got over this crisis’ meetingread article

So long.

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2 Responses

  1. Hi from ireland and Fuck off…we are making you richer while we cant even feed our own …

  2. Aisling Quinn says:

    Update…We got our deal, it wil be paid, when we say so. We didn’t lend the money to bloody Anglo Irish Bank; the ECB did and yet our state volunteered on our behalf to pay the debt for them. It’s only fair that the ECB take some of the pressure off; as they have done. We (the Irish taxpayers) took one for the team so less of the disparaging remarks.

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