Maastricht Letter: Irish Government Debt Dynamics

The “Maastricht Letter” provides a lot of detail concerning the government debt dynamics  – available here.

14 replies on “Maastricht Letter: Irish Government Debt Dynamics”

Date: 11/10/2011
Working balance in central government accounts
2007 -1,619
2008 -12,714
2009 -24,641
2010 -18,744
2011 -24,774???

Goverment expenditure on gross fixed capital predictably declining…..

Was in a large traffic jam in Depressed Cork today…………. we will never learn.
Once or if we come out of our expensive caves again & move around – this country will enter into a massive current account defecit.
We simply have no basic spatial awareness or long term planning ability in this country.
All those idling engines with one person sitting on top of their depreciating chariots…………its beyond sad really.
We are stuck in a limbo of our own making – increasing economic activity in this built & tax envoirment is net negative.


Please be accepting of your fa … … Ah s**t!. Look, we have a lan lana busanna suas anseo (the ctrl a is not working; no fadas). These objects were inserted with deliberate intent. To ensure those chariots progressed at warp speed -1, the better to secure additional excise and vat revenues and pollution of the local environment with excessive levels of beneze (a very nice carcinogen). Now I would assume that someone of your mega intellect would have copped this before now.

Not content with the aforementioned LBs, they installed multidudinous lana [insert icon for cyclists] which are deliberately disconnected – to ensure additional and extra cyclists have a nasty mishap as they weave and wander through the disconnected aforementioned [insert icon] and have to be rushed to the Blackrock (not your B’rock) or Beacon Clinics for E170 worth of consultant driven expertise.. So now you know!

Brian Snr.

ps: Damn typos. Its benzene, not beneze. Ben Eze is a first cousin of Ben Zaldehyde. Olive Oyle being the niece.


Nah take no notice – I am just still foaming at the mouth about the Luas Green Line extension to the not built Dublin townlands yet thingy – while multiple large Cork satellite towns in the 15,000 class since the 70s were just left there like , do you know what I mean like……………….like

People just don’t seem to understand that Cork because of its linear follow the river valley development over the years is much more suitable to a long single line heavy tram then the dendritic urban sprawl of Dublin.
Its not just city size that matters for urban public transport – its density along the line.
But I don’t blame Dublin really – Cork city & county council were the most unimaginable people alive during the boom.

“Unimaginative people” although they are sometimes hard to imagine.
I will shut up now.
except by saying……. our extreme problems lie chiefly in our built environment & externality leakages which forces us to come up with extreme export drives as so much of our internal consumption is not end use – Irish people are not stupid in the main… I hope – they are just not very well organised.
We will never have French planning but there is a lot of low hanging fruit out there if you really look hard enough.
Saying that they might just plan a tram where the bus routes & present traffic flows now and make a balls of it like they always do.
Build stuff the right way and they will come – INTEGRATE THE PRESENT NEW CAPITAL STOCK & we can make this place work for us.

@ dork

Do you promise to shut up now? Please? Starting to get beyond irritating I’m fraud, no offence.

A FrAudian slip perhaps……… you are doomed if you think exponential interest on your bond is economic development – although its a handy little earner until collapse.
Enjoy yourself while you can.

@ all

Can someone who is familiar with the national acccounts just confirm if there is anything new particularly new or interesting in these numbers ?

@ dork
Time for a Beamish 🙂

Nah rationed to 100 pints a week now – thursday eh no Friday is my day off.
Just looking at BP yearly statistical energy review oil consumption figures.
Bulgaria is very interesting
Year 2000 – 88 TBD
Year 2009 – spiked at 124 TBD (most smaller European countries consumption reached a peak in 2007/8)
Then fell a whopping 25.6% in one year – (only White Russia had a more dramatic decline with the beginnings of hyperinflation I guess at near 30%) – to 93 TBD in 2010

Can be entirely explained by frantic Irish bank executives & their debt serfs driving around Bulgaria in ever wider circles until finally giving up the ghost in 2010.

@The Dork

You bin gettin into doze golden “bales” again? 12/13 comments here relate to you …

I’m downgrading you from the previous +0.95 to +0.80 on negative watch.

AN article by Krugman in NY Times.
I find the Iceland wage adjustment compared with the Irish quite interesting as an indicator of how much has been left undone in Ireland.

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