The Final Countdown - Speculation on Irish bailout EU/IMF


#281

euronews.net/2010/11/16/irel … -the-euro/


#282

Thanks BU - I wasn’t questioning you - just that amount :open_mouth:


#283

Very interesting stonewalling of Arthur Beesley’s very straight-forward questions. Seems like the organ grinders in the EU/ECB are as institutionally paralyzed as the dancing monkeys in the Government. Seems like gridlock until the markets force the issue, yet again.


#284

No wonder the opposition have been so lack lustre :open_mouth:


#285

Yep, load of crap really - all states are ready to support us - eh, yea right.

Supportive of screwing the taxpayer to the wall while at the ready to help the banks - pack of sick fucks if you ask me.


#286

I thought I heard Olli Rehn mention something about Ireland’s budget next week. (There have been rumours of it being brought forward).

Could have been a simple mistake also it was a little hard to hear clearly and he was talking about the 4 year plan as well.


#287

guardian.co.uk/business/2010 … ebt-crisis

good blog here.


#288

I had to make sure myself in case I my eyes were tricking me when I was watching it earlier :slight_smile:

It has to be debt from the IFSC also, the total debt figure for Ireland, private on public is 1.5 trillion isn’t it, so would public debt, household and government add up to the other 750Bn?

On CNBC earlier they were saying the bailout for the Irish banks would be the equivalent of 6-7 Trillion in the US.

Primetime special on the subject now.


#289

I feel faint. Thank god I can still make the off licence.


#290

Most of the raw data comes from this doc…

cso.ie/releasespublications/documents/economy/current/iip.pdf

This is Irelands real economy, not the odds and sods that is measured in the GNP / GDP numbers.

Pure Cayman Islands stuff, little net benefit to the host country despite the 600B/700B a year cash flow.


#291

I don’t see it is a credible figure. I bloody hope it isn’t!

The figure for the guarantee eventually expanded to 650 bn euro, I believe. This was a guarantee of what was owed by the Irish banks to all sources. So I’d say that’s an upper ceiling. I don’t believe all of this is external, however, I think we should take our lead from sovereign bonds - an 80/20 split foreign/domestic, so the figure could be a large as 520 bn euro. And on to that, you add national debt (100 bn), NAMA bonds, 40 bn, promissory notes (30 bn)… so it is a number so large that if you started to spin it, it would suck all known creation into itself.


#292

We are all 8-

And we’ve 8- them all!

Should I move what cash I have to a non euro account?


#293

Wondering if the bailout for the banks will come with the same conditions as shown on RTE tonight ie cut quangoes, PS pay etc. Hope gov don’t swing special conditions that leaves themselves immune to serious cuts.


#294

This is a government who has lost its legs, arms with only the head left. It never had a heart so don’t worry about it. Living dead and all that.


#295

We paid monkeys and got peanuts.


#296

Pressure is rising:
ftalphaville.ft.com/blog/2010/11 … n-ireland/


#297

#298

The evil ones* over at the BBC will be covering this shortly on Newsnight. In their intro they even mentioned the Euro without Ireland :open_mouth:

Currently just discussing Willies engagement.

*According to Joe Duffy.


#299

Ive a feeling Latvia may be our model which would both pander to “the markets” as well as attempting to deter any of the other sovereigns from playing hardball should they decide to at some later point.

The Irish taxpayer will be booted in the general direction of the 1950s, ushering in Morgan Kelly’s wave of personal mortgage default as people decide to up sticks and abandon ship.

Very hard to see any silver lining here anywhere unless you’ve a job or a salary with NAMA or somewhere else within the State/EU funded (risk-taking) financial system.


#300

On now.