Ireland Gross Debt, €1.1TR not €1.6TR if you look carefully

6 Months Ago.

irishtimes.com/newspaper/bre … ing32.html

cia.gov/library/publication … os/ei.html

$2.287 TRILLION according to the CIA

However much of this debt is OFSC and Multinational Accounting Cack.

The Central Bank had a crack at ascertaining how much Debt ( TOTAL not External) is held by Irish Entities.

This was published today. Am I right in saying the CB left out our €150bn of mortgages and our c.€50bn-€100-€150bn of other household debt here???

rte.ie/news/2010/0310/economy.html

Does a residential mortgage meet the criteria of an issued debt security?

I’d imagine not.

The 37 bn that is securitised probably does count.

Where do deposits and CDs stand?

Well, obviously. But I was just making the point that a residential mortgage and private household debt in general aren’t included other than when washed through the other end.

We beat Japan!!! Sweet jeebus! It was 1.2 Trillion when I last looked on the CIA website a few year ago :open_mouth:

cia.gov/library/publication … &rank=8#ja

So now you trust the CIA? Strange days indeed… :stuck_out_tongue:

No.

Why is Luxembourg so high up the rankings? It seems very strange!!

Outsize low regulation financial services locations.

…for German Insurance companies…

Well my guess is that the CIA probably have a better idea of the nature of the total activity in the IFSC than the Irish Financial Regulators. I’ve just skimmed a small sample of the many thousands of prospectuses approved by the regulators aver the last year or so and the total sums of the transactions approved i.e rubber stamped. is truly staggering. Most seem to be multi-billion net, not too many are 7 or 8 figure. Add up those numbers over thousands of transactions…

I think if just the public information from the IFSC were seriously data mined some very interesting numbers would come out. Not only the staggering amounts of money that are being funneled through the IFSC each year but it would start giving people a much truer view of the Irish economy. I would not be too surprised if the official economy presented by the CSO statistics ( around 140B which is 60% MNC tax evasion and 40% crony capitalism) turned out to be a pimple on the arse of the IFSC economy which is many many hundreds of billions of capital flows per annum.

It would make a Tobin tax very attractive… could this be the “wait for it” event?

The CIA trusts OUR Central Bank and converts the Irish CB data to US$. Thats all.

That is precisely what happens.

Don’t go looking for the ones the Irish Banks themselves submit for approval. Those prospectuses are usually ( not always0 kept secret :slight_smile:

I feel so much better now.

Someone talk Rock3r off that ledge… tell him they’re devising a stimulus plan as we speak XX

I probably missing something here, but do the MNCs not pay corporation tax which is less than 15% of the total tax take?

Anyone have any recent data on what Ireland’s current gross debt is?