The Final Countdown - Speculation on Irish bailout EU/IMF

[superpiper]

This has to be "the IMF is coming " speech? right?

No.

It’ll be a “nothing to see here, move along” speach

[Pill]

Could me that financing for the banks has been agreed and that they’ll be in constant contact with their EU counterparts…

[anon15543343]

Herman Van Rompuy has said the future of the EU is at stake. Things could hardly get any worse for the euro.

Sorry, hang on - this just in: they can get worse…
Austria is withholding its next installment of loans to Greece (due as part of the next tranche of the EU/IMF support for Athens)
ftalphaville.ft.com/blog/2010/11 … obstinacy/

[slasher]

blogs.ft.com/money-supply/2010/1 … edium=feed

not sure if this has been posted

What Germany really thinks about Ireland
November 16, 2010 1:57pmby Ralph Atkins | Share
If Dublin successfully avoids using the European Union’s rescue fund to resolve its banking and fiscal problems, it will probably win friends in Berlin. Germany’s exact view on what Ireland should do is murky, but officials are adamant that Berlin has not pressed for outside intervention.

That makes sense. For Angela Merkel, chancellor, and Wolfgang Schäuble, finance minister, an EU bail-out for Ireland would undoubtedly mean more unwelcome headlines in Bild of the sort the mass-market newspaper ran earlier this year over profligate Greeks and how German taxpayers were paying for the excesses of other eurozone countries.

But the view in Frankfurt is different. The word here is that Axel Weber, the Bundesbank president, is in line with the European Central Bank position. The ECB wants quick action by Dublin, and thinks no stigma should be attached to using the European financial stability facility. If a country’s banking system needs restructuring, it is the job of governments to act; politicians should not assume the ECB will provide unlimited liquidity indefinitely.

Still, do not imagine it is all sweetness and light between Mr Weber and other ECB governing council members. He has gained a reputation for outspokenness since opposing the ECB’s government bond purchase programme launched in May.

The Bundesbank president is - like Berlin - keen that the planned future eurozone country bail-out mechanism should allow for an orderly debt restructuring. That is something other ECB colleagues see as impractical and not something that should be discussed at such a fragile time in financial markets.

[Blue_Horseshoe]

I wonder will any of the following phrases be used

“Living beyond your means”
“National Interest”
“Going Forward”
“Systemic”
“No need to panic”
“under control”
“stabilisation”
“recovery”
“not a bail out”

Blue Horseshoe

[karlos_the_jackal]

They found a tenner down the back of the couch, so we are well funded until Mc Donalds withdraw their tasty and economic euro saver menu. Further announcements to follow searches of under the couch.

[CaveCanem]

I wonder will any of the following phrases be used

“Living beyond your means”
“National Interest”
“Going Forward”
“Systemic”
“No need to panic”
“under control”
“stabilisation”
“recovery”
“not a bail out”
"block of cheese"

Blue Horseshoe

You missed one

[Pill]

rte.ie/news/2010/1116/economy.html

[jacobmarley]

This has to be "the IMF is coming " speech? right?

No.

It’ll be a “nothing to see here, move along” speach

I know the report says that Cowen to speak to Dail on economy but just wondering if general election might now be part of overall announcement? As another thread noted the Greens have gone very quiet in recent days and even FF went to ground yesterday…

[magoko101]

I’m just musing here… but I’d suspect if there is an announcement re bailout… it’ll be BL who will be asked to make it.

Can’t see Coward coming out as he’ll know it’ll be replayed for generations a la the CJH clip.

[BottomsUp]

Paddy power power odds on a general election in 2010 were were 10/2 two weeks ago, 10/3 last week and are 20/1 today, so they don’t seem to think so.

[Pill]

I’m just musing here… but I’d suspect if there is an announcement re bailout… it’ll be BL who will be asked to make it.

Can’t see Coward coming out as he’ll know it’ll be replayed for generations a la the CJH clip.

Lenny is in Brussels or at least en route, I think.

[What_Goes_Up]

The government will deliver a statement on the economy to the Dail around five o’clock today, a spokesman said today.

" A dhaoine uaisle - Tá ana áthas orm an corn seo a ghlacadh.

Lowwwwwwww lie de hills of Athenryyyyyyy
Where once we watched de small free birds flyyyyyyyy
Ooooooooour looove was on a wwwwwwwwwwwwing
We had dreams and soh-hongggggggs to siiiiiiiiiinnnnnggggg…

SNORT
As a patriotic geasture to Mná na h-Éireann agus those who died for our freedom we have decided to borrow €80Billion more to put into the healthiest banks in Europe - de Irish bankssssssssssss!!!
(Clench fist - Wait for sound of cheering, whooping and applause to die down)
BELCH

…"

https://www.total-banker.com/Images/pigs_trough.JPG

[jmc]

I’m just musing here… but I’d suspect if there is an announcement re bailout… it’ll be BL who will be asked to make it.

Can’t see Coward coming out as he’ll know it’ll be replayed for generations a la the CJH clip.

Lenny is in Brussels or at least en route, I think.

Cowen is up now…

oireachtas.ie/viewdoc.asp?fn=/documents/livewebcast/Web-Live.htm

Still bullshitting

[jacobmarley]

Bond trader Eoin over on irish Economy

Bond. Eoin Bond Says:

November 16th, 2010 at 4:18 pm
hearing 8pm EU statement. partial agreement

irisheconomy.ie/index.php/20 … /#comments

[fungus]

Taoiseach to make statement on economy

rte.ie/news/2010/1116/economy.html

Taoiseach Brian Cowen, along with the leaders of the Opposition, will make statements in the Dáil this evening on financial stability.

The new addition to today’s Dáil schedule will allow for ten-minute slots for Mr Cowen, and for Fine Gael, Labour and Sinn Féin.

The title of the discussion is ‘Statements on financial stability development in Ireland and elsewhere’.

It is due to take place following the Order of Business, which usually finishes around 5pm.

Fine Gael leader Enda Kenny told the Dáil that the Government has politically betrayed the country and other EU countries.

Speaking during Leaders’ Questions, Mr Kenny said the incompetence of the Government had paralysed the people.

In response, Mr Cowen the Government has done all it can to deal with the situation and it is working with EU partners and institutions.

The Taoiseach said he did not accept that the Government had acted other than in the interests of the country.

Labour leader Eamon Gilmore said there was an obligation for Mr Cowen to level with the people as to whether assistance for the State and the banks is on the cards.

Ireland’s debt crisis is expected to be discussed by eurozone finance ministers who are meeting in Brussels.

[BottomsUp]

Paddy power power odds on a general election in 2010 were were 10/2 two weeks ago, 10/3 last week and are 20/1 today, so they don’t seem to think so.

16-1

[John_Grace]

budget this thursday?

[onestepbehind]

humenm Neil Hume

EUROPEAN OFFICIALS WEIGHING 80 BLN TO 100 BLN EURO RESCUE FOR IRELAND - WSJ

[Dubhgeannain]

The statement has started.