Comments by "bighand69" (@bighands69) on "" video.

The Euro currency was not the problem and it was actually a saving grace which does not say very much of the euro to be honest. When the economy collapsed the government was spending 55 billion a year but was only taking in 32 billion per year. IF the Irish government at the time had of been able to use their own currency they would have start QE to make up for this short fall. This would have been a disaster. What the Euro done was lock Ireland into an existing system they had no control over hence they could not print up extra money.
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I am sorry but this is going to hurt. Irish people have nobody to blame but them self. And even today most Irish people think their crisis was due to the banks. The banks had nothing to do with Ireland crisis they were a symptom of the real problem. The Irish government were making promises they could not keep. They ended up with an economy were the government was spending 55 billion per year but were only taking in 32 billion per year. And what do people call this it is know as the welfare state. What this means is that an ordinary person works a 40 hour week but only gets paid for 25 as the rest goes on taxes for government programs.
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john walsh The Irish government was spending 55 billion and only taking in about 32 billion. And they went Europe and IMF to borrow money. And guess what Europe told the Irish government pay of your debts as a nation and yes that means bank debts and Bondholders. It is very simple if Ireland did not get those loans it would have meant that 20 odd billions worth of cuts would have been need in under a year. That means schools closing, Hospitals closing, Police being laid off, Military being laid off, Power stations shutting down. The cost of Irish goods that are being imported such as cars, clothing, food, medicines and electronics going up in price 10 fold. Please tell me you at least understand these basic economic outcomes when a country goes bankrupted.
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brendan w I am not having a go at you. Ireland has a deficit of government budget meaning the government was spending more than what it was taking in (still is today but the figure is now down to a manageable 3 billion to 5 billion). You do understand this I assume. Did Switzerland, Norway, Sweden, Denmark, Australia, Canada, Germany, Netherlands or Luxembourg face this problem. Please answer me that. You say other countries had this issue. lets address the countries that did and still do have this problem UK, France, Italy and USA. Do you think Ireland is in the same position that these established economies are in.
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