EU, IMF Bailout of Ireland Worth $32,000 per Citizen

Investment Watch Blog

That’s like bailing out the entire US national debt.  If this happens in all the PIIGS countries, Europe is in REALLY deep doo-doo.

According to MarketWatch:

The International Monetary Fund, European Union and European Central Bank are preparing a 120-billion-euro ($164 billion) bailout of Ireland, requiring the country to raise taxes and nationalize more banks, the Sunday Times of London reported.

The plan, which would exceed the 110-billion-euro bailout created for Greece, could be unveiled as early as Monday morning, the paper reported.

Ireland’s cabinet is meeting in an emergency session this weekend to complete a four-year budget, the paper reported. The budget is also set for release this week, the Sunday Times reported.

A property tax of 500 euros a house plus more public-sector cuts are expected to be part of the plan, the paper said.

A team that is figuring out how to restructure Ireland’s banks is also developing a proposal for a wealth tax on the country’s richest citizens, the Sunday Times reported.

France and Germany are pressuring Ireland to raise its 12.5% corporate-tax rate, the paper reported.


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EU, IMF Bailout of Ireland Worth $32,000 per Citizen

Investment Watch Blog

That’s like bailing out the entire US national debt.  If this happens in all the PIIGS countries, Europe is in REALLY deep doo-doo.

According to MarketWatch:

The International Monetary Fund, European Union and European Central Bank are preparing a 120-billion-euro ($164 billion) bailout of Ireland, requiring the country to raise taxes and nationalize more banks, the Sunday Times of London reported.

The plan, which would exceed the 110-billion-euro bailout created for Greece, could be unveiled as early as Monday morning, the paper reported.

Ireland’s cabinet is meeting in an emergency session this weekend to complete a four-year budget, the paper reported. The budget is also set for release this week, the Sunday Times reported.

A property tax of 500 euros a house plus more public-sector cuts are expected to be part of the plan, the paper said.

A team that is figuring out how to restructure Ireland’s banks is also developing a proposal for a wealth tax on the country’s richest citizens, the Sunday Times reported.

France and Germany are pressuring Ireland to raise its 12.5% corporate-tax rate, the paper reported.


Activist Post Daily Newsletter

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Free Report: How To Survive The Job Automation Apocalypse with subscription

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