Talking about U.S. taxpayers will contribute $5 billion to Irish bailout | Irish News | IrishCentral

 

Quote

U.S. taxpayers will contribute $5 billion to Irish bailout | Irish News | IrishCentral

As Ireland is set to receive its first  $7 billion in IMF funds this week it has been revealed that U.S. taxpayers will contribute $5 billion to the bailout. $30 billion of the Irish bailout is being given by the the International Monetary Fund.  The U.S. contributes 17 per cent of the IMF budget making its contribution to the bailout about $5 billion. In addition US institutional investors hold about $25 billion in Irish assets according to the Switzerland-based Bank for International Settlements.That amounts to about 15 per cent of the total $170 billion invested in Irish banks by foreign lenders.If Ireland were to default  then the US taxpayer and institutional investors would be hard hit.Repudiating the debt is exactly what international financier George Soros believes that the next Irish government will do however.

Writing in the Financial Times last month Soros said th

Advertisements
This entry was posted in Uncategorized. Bookmark the permalink.

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s