Qualified statements and obfuscation are what one should generally refer to as "clues" that something is up. What is the difference in these two statements:
A) The European Union has approved an €85 billion rescue package for Ireland which, if drawn down in its entirety today, would attract an average interest rate of 5.83 per cent.
or,
B) The European Union has approved an €85 billion rescue package for Ireland which carries an interest rate of 5.83 per cent.
The difference being A talks about draw down conditions and average rates; B states the interest rate is a straight-forward 5.83 per cent, full stop. A is what the Irish have signed up for, a conditional teaser-rate loan.
A hunch says that, once the details are known in the next day or so, Irish citizens will find that the real interest rate they are being saddled with is far more than 5.83 per cent.
Any takers?
Behind the Façades in France: What expats and the mainstream media (French and American alike) fail to notice (or fail to tell you) about French attitudes, principles, values, and official positions…
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