The seven EU members who are less creditworthy than myself

Following Robert Peston’s comparison of what interest rate the Italian government is charged for borrowing money compared to what his own household would be charged (Italy turns out to be more creditworthy than the Pestons, but only just), I thought I would take a look to see how I compare.

Take that, then, Cyprus, Greece, Hungary, Ireland, Portugal, Romania and Spain. You are the seven EU members who are being charged a higher interest rate to borrow money long-term than I would be.

* Mark Pack is Party President and is the editor of Liberal Democrat Newswire.

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5 Comments

  • Richard Dean 19th Jun '12 - 6:15pm

    You’re onto a winner. What you do is this

    > borrow a few trillion at the low rate yoiu are charged
    > lend it to those seven countries at a higher rate, but one that is lower than they would get from the market
    > use their repayments to repay your debt
    > keep the profits

    You could even make a bit extra by lending to the Pestons!

    Of course there are one or two risks involved, but hey, who cares, these opportunities don’t come every day!

  • Tony Dawson 19th Jun '12 - 8:37pm

    Declare the Republic of Mark Pack immediately. And apply for EU and Euro membership?

  • Hmm. If they only wanted to borrow small sums, they would be able to do so cheaply.

  • Keith Browning 20th Jun '12 - 11:42am

    I think its already been done – didn’t an American buy up a bankrupt Greek bank – then qualify for a bailout and he then made half a billion euros in the transaction.

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