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Still nothing to do with a loan to Ireland. Google "Google Tax" for that one.

The problem is not that we have some debt, it is that we have so much debt that in order to pay the interest and do everything else, we are having to borrow more, even now. Despite the spending cuts, our debts are still increasing, because the tax take (income) is lower than the total budget...

Well, 12 went to the EU Bank and 7 went to the Irish. I don't know a thing about the 12, but the 7 we lent to the Irish, we borrowed ourselves. There is an interest rate difference in our favour though, the Irish did not have the AAA credit risk that UK has and so could not get money as...