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amassafortune (29.19)

November 2010

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Ireland - Some Simple Reality Check Numbers

November 21, 2010 – Comments (5)

The UK Sunday Times reported on a proposed $164 billion bailout for Ireland. The country only has a population of about 6.2 million so the proposed "fix" commits/restructures $26,451 of debt per citizen. In the U.S., Arizona, Mass, Indiana, Tennessee, and Washington have similar populations. Imagine how long-term growth prospects would be affected by a similar debt burden and you can understand why the political leaders of Ireland spent last week trying to find any other alternative.   [more]

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