E-toll delay could cause SANRAL to default

Allowing Sanral to default is completely rational says the people.
 
Ag shamepies... my heart pumps thick lumpy custard for $CAMRAL
 
If SANRAL defaults on its loan, it can never get a loan again and that means it wont be able to upgrade any more roads. Plus it will have a nasty impact on South Africas Credit Worthiness.
 
They won't default, Treasury will bail them out. It's all smoke and mirrors to distract us from the fact that the people's pensions are tied up in this scam, and they'll be in deep sh*t with those people if the tolling doesn't go ahead. I've never seen government so adamantly back an institution before this, and there's a reason for that.
 
if they default, then its the gov employees/pension fund that gets hurt ... not so much international investors .. although it will drop the SA credit rating even further .... which may be a good thing, as we cannot borrow more money to build more white elephants

I would still like to see how SANRAL or the DoT explain the cost of approximately R100mil for a km of road!!
 
zamedic said:
If SANRAL defaults on its loan, it can never get a loan again and that means it wont be able to upgrade any more roads. Plus it will have a nasty impact on South Africas Credit Worthiness.
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And why should we as the consumer be help responsible for their fskup? They did everything head over arse and they dont give a crap about what effects this will have on the economy.
 
zamedic said:
If SANRAL defaults on its loan, it can never get a loan again and that means it wont be able to upgrade any more roads. Plus it will have a nasty impact on South Africas Credit Worthiness.
Click to expand...
Consider it a lesson learnt about "privatising" our roads.
 
Consider it additionally a lesson learnt, stop fu*king the public up the ass
 
Option A: We owe Austria 350m per month. We postpone by two months and get a proper court hearing with all inputs. We don't pay a cent. We get defaulted and ordered to pay 17 billion. Crap...

Option B: We owe Austria 350m per month. We postpone by two months and get a proper court hearing with all inputs. We pay 350m every month. We don't default, and aren't ordered to pay 17 billion.

You would have to be a SANRAL lawyer to propose option A and not even mention option B.

We only need to find 350m per month for however long the case drags on. Surely that isn't unreasonable considering our budget is more than 1 trillion rand?
 
They won't default, Treasury will bail them out. It's all smoke and mirrors to distract us from the fact that the people's pensions are tied up in this scam, and they'll be in deep sh*t with those people if the tolling doesn't go ahead. I've never seen government so adamantly back an institution before this, and there's a reason for that.
Click to expand...

Ye... but what are the real consequences of SANRAL defaulting ?

I think we are about to find out.
 
The report showed that national and provincial government departments and public entities wasted and misused more than R20 billion of taxpayers' money over the past financial year (2010/11), he said.
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source.

So this whole upgrade could have been entirely paid for by the misused, wasted, fraudulently used and/or stolen public funds of 2010/11, which was R4 billion more than the previous financial year. I wonder how much was wasted/stolen from the tax payer last year.
 
And what if the majority of road users
refused to pay
or
not use that stretch of road?

how will they repay the loan anyways?
 
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