28-11-2010, 10:02 PM
From politics.ie:
Is the interest rate on EU money not actually 7.25% taking account of our NPRF?
http://www.politics.ie/economy/144356-in...-nprf.html
Is the interest rate on EU money not actually 7.25% taking account of our NPRF?
Quote:Originally Posted by seabhcan
I'm not so sure - I think they are trying to spin it.
Quote:The State’s contribution to the €85 billion facility will be €17½ billion, which will come from the National Pension Reserve Fund (NPRF) and other domestic cash resources. This means that the extent of the external assistance will be reduced to €67½ billion.
...
If drawn down in total today, the combined annual average interest rate would be of the order of 5.8% per annum. The rate will vary according to the timing of the drawdown and market conditions.
Presumably the pensions reserver funds are at 0%, as its already our money. They form about 20% of the total amount. If one fifth of the amount is at zero percent, and the average is 5.8% - what is the interest on the rest of the money? I calculate 7.25%
http://www.politics.ie/economy/144356-in...-nprf.html
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"Proverbs for Paranoids 4: You hide, They seek."
"They are in Love. Fuck the War."
Gravity's Rainbow, Thomas Pynchon
"Ccollanan Pachacamac ricuy auccacunac yahuarniy hichascancuta."
The last words of the last Inka, Tupac Amaru, led to the gallows by men of god & dogs of war
"Proverbs for Paranoids 4: You hide, They seek."
"They are in Love. Fuck the War."
Gravity's Rainbow, Thomas Pynchon
"Ccollanan Pachacamac ricuy auccacunac yahuarniy hichascancuta."
The last words of the last Inka, Tupac Amaru, led to the gallows by men of god & dogs of war