Ireland's Celtic Tiger 2005: Built to last or on a foundation of quicksand? finfacts

Ric said:

Thanks Neffa, I looked at the data but it's hard to decipher. In broad brush stroke terms how much of the c.260bn is consumer credit?

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€115m is directly consumer, and €50m is construction-related (a proportion of which is the financing of building before it gets sold to consumers).

So 60% maybe? A huge amount, I think - McWilliams is nearer the correct answer than the IIB guy.

With regard to state protectionism India is doing the exact same thing as Japan did and China is currently trying to.
The are massive companies like TATA which span every industry protected from external competition in their internal market of 1 billion albeit poor consumers.
India is a safer place to invest for multi-nationals for two reasons - because of all the dialects used everyone defaults to English to communicate and the Chinese have absolutely no respect for Intellectual Property Rights.

Re: Ireland's Celtic Tiger 2005: Built to last or on a foundation of quicksand? finfa

Dipole said:

because of all the dialects used everyone defaults to English to communicate and the Chinese have absolutely no respect for Intellectual Property Rights.

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Plenty of technology companies are frightened of the IP issues in India also but I'll concede it's not nearly as bad as in China

Ric said:

Yesterday in the Sunday Times Austin Hughes Economist with IIB claimed that the BIG number used by the likes of Mc Williams in the SBP and by D. Kiberd for whom he substituted is grossly misread.

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With the housing market debate really ramping up lately, it is amazing that Austin has been so quiet. Come on Austin the market needs you, now more than ever!

Austin Hughes, where are you?

Come on Austin Hughes, Where Are You? We got some work to do now.
Lovely Austin Hughes, Where Are You? We need some help from you now.
Come on Austin Hughes, I see you... pretending you're a free thinker
But you're not fooling me, cause I can see, you really are a banker.

I've lots of property to sell, so please Austin Hughes be ready for your act.
Before the crash!
And Austin Hughes if you come through I'm gonna flog it all to Paddy Last!
That's a fact!

.....and we would have got away with it too, if it were not for those meddling bears!

EDIT: Sorry, I was a big Scooby fan as a kid. I must be showing my age.