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View Full Version : Ireland Seizes $7 Billion From Its Pension Fund To Boost Employment



megimoo
06-12-2011, 09:16 AM
THE GOVERNMENT WILL use the last 5 billion in the National Pensions Reserve Fund (NPRF) to help create employment although it will need approval from the International Monetary Fund (IMF) and Europe before doing so.

The Sunday Times reports today that the money will be used by the government to create as many as 80,000 jobs in Ireland. The paper cites government sources in reporting that the use of the money would be seen as more viable then the proposed sale of semi-state assets in the current weak market.

One source says that the view of the troika of IMF, the European Union and the European Central Bank is that if you have money it should be spent rather than drawing on outside funding or money from selling off assets at the wrong-time

http://www.businessinsider.com/ireland-seizes-7-billion-from-its-pension-fund-to-boost-employment-2011-6

Odysseus
06-12-2011, 11:02 AM
THE GOVERNMENT WILL use the last 5 billion in the National Pensions Reserve Fund (NPRF) to help create employment although it will need approval from the International Monetary Fund (IMF) and Europe before doing so.

The Sunday Times reports today that the money will be used by the government to create as many as 80,000 jobs in Ireland. The paper cites government sources in reporting that the use of the money would be seen as more viable then the proposed sale of semi-state assets in the current weak market.

One source says that the view of the troika of IMF, the European Union and the European Central Bank is that if you have money it should be spent rather than drawing on outside funding or money from selling off assets at the wrong-time

http://www.businessinsider.com/ireland-seizes-7-billion-from-its-pension-fund-to-boost-employment-2011-6

So, no pension fund, and a bunch of jobs created by central planning. What could possibly go wrong with that? :rolleyes:

Bubba Dawg
06-12-2011, 02:05 PM
Makes me remember an old line, A penny saved will be taken by the government.

Rockntractor
06-12-2011, 05:00 PM
80,000 people sorting shamrocks.:rolleyes:

JB
06-12-2011, 05:01 PM
So, no pension fund, and a bunch of jobs created by central planning. What could possibly go wrong with that? :rolleyes:No idea. It's brilliant. Should be implemented worldwide post haste. :double rolleyes:

OT: 7K woot. +1

Rockntractor
06-12-2011, 05:07 PM
No idea. It's brilliant. Should be implemented worldwide post haste. :double rolleyes:

OT: 7K woot. +1

Sho nuff, I'll let bossman do the woot!:cool:

pyackog
06-12-2011, 06:54 PM
The paper cites government sources in reporting that the use of the money would be seen as more viable then the proposed sale of semi-state assets in the current weak market.

In other words, why spend "our" money when we can spend "your" money?