Is there an alternative solution to this mess ??

There must be an alternative to this mess.

We have all heard about the Diaspora of the Irish living in the States and the millions that claim to be part Irish.

Why doesn’t the Government make an approach, (with the begging bowl) to the US Government to launch a T Bill of $100 billion for 20 years with a 3.75% Coupon in favour of rebuilding Ireland? We would request the Yanks to underwrite this Bill, which in turn could be focused to attract more US industry to Ireland and to reinvent our hospitality sector.

We have a one off chance to pull the country back from the brink

By doing nothing, we are watching our country die a very painful death in front of our very own eyes.

Because the US are just as bust as we are, China owns more dollars than they do. One world currency anyone?

ivor james said:

One world currency anyone?

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Maybe and at least it is an idea. Politicians worldwide have a knack of making things worse rather than better. We need all hands on deck, not self criticism -- and yes we will pull ourselves out of this desperate situation.

mercman said:

Maybe and at least it is an idea. Politicians worldwide have a knack of making things worse rather than better. We need all hands on deck, not self criticism -- and yes we will pull ourselves out of this desperate situation.

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Indeed, politicians do make an awful mess, but giving politicians the power of a "one world currency" is probably the most disastrous mistake society could make.

As to you search for an alternative: freeze all interest payments on bonds, default to the tune of 30 cent on the euro, liquidate the banks and sell off anything that can be salvaged to the highest bidder, make it easier and cheaper for new banks to be created, amend the constitution to forbid any government from running a deficit, cut the budget by 50%, and decrease taxation on everyone.

Off topic but the ESRI warned us of this mess back in 2000.