of seven portuguese banks on wednesday. that was a day after it slashed the government s rating. they ve turned down portugal s request for short-term loans. rates to skeptical investors or otherwise seek a european union/ieunion union/ireland bailout. the financial regulation is calling for tougher rules, better enforcement, steeper fines for violations and competency views for bank directors. this gentleman s comments coming in the wake of the stress tests indicates that ireland s banks need 70 euros. he says ireland s financial crunch is not just a global problem but a problem specifically with ireland s banks. we ve taken a conscious
effort to do this. there s been examples of financial companies who suffer from overdominant cfos or over challenge in the boardroom. it was exacerbated by the con seb traded nature by the corporation in ireland. with challenges in the room perhaps blunted by the social con strands of working and living in a small business community in a small country. these changes speak to the capacity of the central bank to act as a supervisener a reformed regulatory system, but it s also important to have the will to act. these comments coming just the last hour or so. elderfield also says this. selling assets and requiring reserves will help to assure the banks. of course, a lot of analysts saying it will take quite some time to fix the banking there. that s quite a lot of money.
absolutely accurate. better spelled out in words, as you can see at $14 trillion. according to the u.s. labor statistic s department, every member would have to pay more than $90,000 to get rid of this type of debt eventually. the u.s. is one of the western countries struggling with the massive debt burden. when you look at it as a percentage of gdp, the u.s. stands at 10.5% in 2010 according to the latest data. compare that to the uk and i ra ireland with more than 32.3%. let s look at the countries on the other side toof equation. china s debt is miniscule standing at just 1.9%, pauline.