Posted by: Martin | November 30, 2010

It’s called Usury…

If you want a bit of fun, simply divide all the numbers in the Irish financial “crisis” by 1 million. The results apply to household costs (since the population of the Republic is about 4.6 million).
Today Irish 10-year bond yields stand at more than 9%, while yields on Greek 10-year bonds are almost 12%. That translates as a repayment of £1.56 billion for every £1 billion loaned, i.e. a total repayment rate of 56% (Ireland). For Greece that’s a whopping 77%.

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