Defaulting in an orderly manner what to do.

The shadow of defaulting is probably inevitable. How will such a small population of 4 million Irish pay back debts of
285 Billion over 20 years. Where will the growth come from? Where will the inflation come from if we are in a deflationary spiralat the present time. Exports won’t be enough. Should we do as Iceland did. Has anyone some ideas as to what the best way to go is. All our Banks are insolvent, what will the Central Bank do next? Can Europe save us!

Stop drinking?

Maybe Dimitri Orlov can help cast some light on whats happening with the financial system…

Vote for Paul Sommerville in Dublin SE. He has his head around the issue and is capable of providing clear guidance and decisive action to deal with this awful mess.

Aw jaysus we dont owe that much do we?

In fairness, Dimitri is the über-bear’s über-bear.

I know someone who sold there share in a gaff and has built a boat with their own hands. All or nothing.


Negotiate to pay back existing debt to ECB over a much longer period - say 100 years - that way we aren’t defaulting.

Do an Argentina! Decouple from euro and merrily inflate our way out (having stashed family jewels off shore!). Start an international barbers and “haircuts” alround. Germany will want to invade but then Blighty might get nervous so we should be ok.

It would be better to default on public sector pensions rather than the sovereign bond market.

Unilaterally convert all public sector pensions to “defined contribution” pensions like in the private sector.

As Orlov says the problem is not the amount of debt (we’re living beyond our means structurally and we add new debt each year), we could go on printing and borrowing forever if allowed to do so. The problem is when we cannot do it anymore, so yes a 100 year term would be nice, we’re probably not going to get it though.

We should keep the charade going as long as possible and borrow as much as possible, as there is no chance much of it will ever be paid back anyway (try and keep that quiet though) cos they’re our wives now! We should become increasing militant in the race to the bottom, threatening to bring the whole EU down if we don’t get our way, and bring back the subsidies too, we did quite well when we had them