Britain has offered monetary help to Ireland. The first question that arises in my mind is, what about repayment? The question is whether Ireland will be able to clear all it's debt and what if their economy sinks even after all the help from the world? Can Irish situation sink the british aswell? After all, we are on the same boat.
The UK government has offered a £7bn. loan to Ireland. In addition to that, Ireland is seeking an internationl rescue loan worth£77bn. Well, that is a huge sum of money which comes with a huge debt on Ireland. The Interest rates are high and repaying such a huge loan can be a nightmare and if Ireland can manage that, it will be a boon for UK in the long run. It's not just about helping Ireland, it's about safeguarding our own future.
Is this the right step for UK?
Irish crisis can have devastating effects on british economy. Ireland is one of the biggest trading partner for Britain. Crisis in there means crisis here. According to Centre for Economics and Business Research (CEBR), "We have to participate in Irish bailout because we cannot afford to have such a major market collapse on us".
Other concerns
Britain itself is not in a sound economic state. We are still recovering from the 2007 recession. Tougher immigration laws, and spending cut reviews, job crisis are just few of the mountain of problems we are already facing.
Its clear that the government feels it is capable of taking this risk. May be I am wrong even in terming it as a risk. If we are really so sound, why are we torturing people with reviewing child benefit cuts, spending reviews and tougher immigration laws.
Its time to strengthen our own economy
Whatever the officials and the statistics say, my greatest concern as well as people's is how will we cope if things don't work out as expected? Our economy is not in a sound condition to take such huge risks.
The UK government has offered a £7bn. loan to Ireland. In addition to that, Ireland is seeking an internationl rescue loan worth£77bn. Well, that is a huge sum of money which comes with a huge debt on Ireland. The Interest rates are high and repaying such a huge loan can be a nightmare and if Ireland can manage that, it will be a boon for UK in the long run. It's not just about helping Ireland, it's about safeguarding our own future.
Is this the right step for UK?
Irish crisis can have devastating effects on british economy. Ireland is one of the biggest trading partner for Britain. Crisis in there means crisis here. According to Centre for Economics and Business Research (CEBR), "We have to participate in Irish bailout because we cannot afford to have such a major market collapse on us".
Other concerns
Britain itself is not in a sound economic state. We are still recovering from the 2007 recession. Tougher immigration laws, and spending cut reviews, job crisis are just few of the mountain of problems we are already facing.
Its clear that the government feels it is capable of taking this risk. May be I am wrong even in terming it as a risk. If we are really so sound, why are we torturing people with reviewing child benefit cuts, spending reviews and tougher immigration laws.
Its time to strengthen our own economy
Whatever the officials and the statistics say, my greatest concern as well as people's is how will we cope if things don't work out as expected? Our economy is not in a sound condition to take such huge risks.
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