The Final Countdown - Speculation on Irish bailout EU/IMF

[T-B-M]

If you are bored video.consilium.europa.eu/index. … 9&lang=EN#

[fungus]

Thanks, it looks like the press conference is delayed at the moment.

Any speculation on what will be said at the press conference?

[BottomsUp]

European Debt crisis on euronews now.

Debts owed to foreign banks:

Greece €175 Bn
Ireland €730 Bn
Portugal €235Bn

Biggest banks exposed in Britain and Germany.

[fungus]

**Twitter: BBC News Night: UK May join IMF and EU in Irish Bailout. **

twitter.com/#!/paulmasonnews

[yoganmahew]

**Twitter: BBC News Night: UK May join IMF and EU in Irish Bailout. **

twitter.com/#!/paulmasonnews

One suspects there are large sterling exposures there somewhere. Perhaps wrong-way FX derivatives?

[onestepbehind]

European Debt crisis on euronews now.

Debts owed to foreign banks:

Greece €175 Bn
Ireland €730 Bn
Portugal €235Bn

Biggest banks exposed in Britain and Germany.

Is that right? (not ? you) but really?

[dame]

European Debt crisis on euronews now.

Debts owed to foreign banks:

Greece €175 Bn
Ireland €730 Bn
Portugal €235Bn

Biggest banks exposed in Britain and Germany.

Is that right? (not ? you) but really?

Can this be true? Which of those smileys says ‘gobsmacked’!

[polaris]

The body language was very interesting. What I saw was someone who was in government but who was no longer in power.

Now little more than a dancing monkey waiting for his masters in EU/ECB/IMF to call the next tune and to decide his countrys faith.

Looked pretty relaxed alright, no longer being in charge and taking orders from someone else suits him.

Useless sack of shit.

[onestepbehind]

European Debt crisis on euronews now.

Debts owed to foreign banks:

Greece €175 Bn
Ireland €730 Bn
Portugal €235Bn

Biggest banks exposed in Britain and Germany.

Is that right? (not ? you) but really?

Can this be true? Which of those smileys says ‘gobsmacked’!

Not sure, it’s a mix of …

[fungus]

More from the BBC:

bbc.co.uk/blogs/newsnight/pa … _that.html

The more Ireland’s government resisted a bailout, the more investors began to pull money out of the Irish banks themselves, beginning what one city analyst called a wholesale funding run on Thursday last week.

It is arguing in the back-channels that it should be allowed to take EFSF money for the banks, since it is the banks that are insolvent not the government.

This is tantamount to asking the ECB to act as the sovereign authority, bypassing the Irish national government and bailing out the banks direct. You would then be in a position where the euro, based on a no-bailout rule, had seen its monetary authority bail out private businesses and keep them afloat with no penalty to the national authorities that had allowed the catastrophe to happen.

[dame]

We need a ‘no arse in our trousers’ smiley.

[fungus]

**Twitter: BBC News Night: UK May join IMF and EU in Irish Bailout. **

twitter.com/#!/paulmasonnews
One suspects there are large sterling exposures there somewhere. Perhaps wrong-way FX derivatives?

Yeah, there must be huge UK bank exposure to Irish banks.

A lot more on the UK joining the Irish bailout:

online.wsj.com/article/SB1000142 … re_twitter

[onestepbehind]

thejournal_ie TheJournal.ie
An hour behind schedule, the press room in Brussels beginning to fill up - looks like we’ll have some post-Ecofin stuff to report shortly.

Watch it here.

video.consilium.europa.eu/index. … 9&lang=EN#

paulmasonnews Paul Mason
Getting sense from insiders here that any deal cd embrace more than just Irish debt. May be trying to build firewall round IE and Portugal.

[Lir]

European Debt crisis on euronews now.

Debts owed to foreign banks:

Greece €175 Bn
Ireland €730 Bn
Portugal €235Bn

Biggest banks exposed in Britain and Germany.

we’ll need the whole of the ESF bail out fund to oursleves! We (taxpayers) are not liable for this figure surely … at any stage?

[jmc]

thejournal_ie TheJournal.ie
An hour behind schedule, the press room in Brussels beginning to fill up - looks like we’ll have some post-Ecofin stuff to report shortly.

Watch it here.

video.consilium.europa.eu/index. … 9&lang=EN#

paulmasonnews Paul Mason
Getting sense from insiders here that any deal cd embrace more than just Irish debt. May be trying to build firewall round IE and Portugal.

Junker is twittering on in state speak French. Any one got the official press release from the meeting?

[the_edge]

European Debt crisis on euronews now.

Debts owed to foreign banks:

Greece €175 Bn
Ireland €730 Bn
Portugal €235Bn

Biggest banks exposed in Britain and Germany.

Doesn’t sound right unless it includes IFSC banks.

[onestepbehind]

thejournal_ie TheJournal.ie
An hour behind schedule, the press room in Brussels beginning to fill up - looks like we’ll have some post-Ecofin stuff to report shortly.

Watch it here.

video.consilium.europa.eu/index. … 9&lang=EN#

paulmasonnews Paul Mason
Getting sense from insiders here that any deal cd embrace more than just Irish debt. May be trying to build firewall round IE and Portugal.

Junker is twittering on in state speak French. Any one got the official press release from the meeting?

You can change the language!

Anyway this is what he said, ireland talking to ecb, ec, imf re further measures.

Money available if requested.

thejournal_ie TheJournal.ie
Jean-Claude Juncker invites Ireland to include annual review of financial structures in budget, in order to allow adapting for future shocks

[jmc]

You can change the language!

Anyway this is what he said, ireland talking to ecb, ec, imf re further measures.

Money available if requested.

thejournal_ie TheJournal.ie
Jean-Claude Juncker invites Ireland to include annual review of financial structures in budget, in order to allow adapting for future shocks

Thanks. Does not work in Firefox…

Like to see exactly what was written down in French or English . Nuance is everything.

[shocked]

“most pressing challenge of the day” - Ollie Rehn

A really nice way of describing a crisis

[onestepbehind]

Oli on Ireland - expects 4 year plan soon and he expects it to be “convincing”…

Most pressing problem is Ireland.
Irish authorities committed to working with IMF eu, this is seen as an intensification of process in case neccessary"

Oli Rehn “Mission to Dublin is technical talks focused on restructuring banking sector”

Rehn - ECB\IMF Mission to dublin is focussed on the restructuring of the banking sector - requested by Ireland and deemed nesscesary by EU

Beasley from the IT - How much and is it inevitable and do all states agree.

It’s up to the Gov to ask, all member states ready to be supportive. Talks will intensify…

Won’t give any other details.