Tough Decisions within 2 months.

Eamonn Ryan has (cryptically) mentioned on a couple of TV and Radio programmes “tough decisions” that will be made “in the next 2 months”.
Anyone speculate as to what these could be?

Perhaps he’s going to avail of the scrappage scheme? The reliability and economy of a Diesel, or the low carbon output of a Hybrid…?

I don’t think there’s any huge mystery here: the first loans being moved into NAMA and the recap of the banks. Both these are due to happen in the next 2 months iirc.

I believe Anglo is not viable. The state will have to swallow a large loss on it and it will largely be wound down. The ongoing cost of the wind-down will require further budget tightening.

Just a guess though, he could be talking about “daddy or chips” :smiley:

Probably bluster as usual… “Look at me I’m working hard Ma… I know I know even I find it tough to go against my conscience but think of the pension Ma we’ll be rich I tells ya”… “What was that? a question about the economy? jobs? Oh yes well you see I’m working sooo hard on all these tough decisions and all will be revealed honest”… “Look what’s that over there”…

there’s already a thread on it: viewtopic.php?f=19&t=28550

WSTT posted this back in January:

viewtopic.php?f=46&t=27581&p=344697#p344697

Supposed we’ll have to wait and see.

IIRC the EU Commission said that they would approve Nama…or otherwise attach conditions…or BOTH or NEITHER …by 11/03/2010

They then went approved it today ( with a number of private and secretive conditions) and a major announcement about Anglo could be moved forward to next tues/weds after the cabinet meeting on Tuesday.

rte.ie/business/2010/0226/nama.html

Anglo is not viable , really ?

Yeah. After the transfer of the first tranche of loans into NAMA the government will probably have to borrow as much €10billion for recapitalisation with the biggest amount going to Anglo. This is a really hard sell with public sector pay, social welfare, health and education cuts at the same time.

In EU eyes. If it is not viable into the future, it must be wound down. Viable = state will get its money back = an investment, not a bailout.

Sorry , should have put one of those smilies things at the end of that post .

How can Anglo be wound down ? It ( according to Cowen ) would cost 60 billion . Its bigger than NAMA !

:smiley: I was unclear as to who the viability mattered to. Our chaps think everything is viable. Ski slopes in Cavan, rocket launchers to the moon in Roscommon (or Roscosmon as it will be renamed)…

It must be wound down, the EU allows one bad bank only and that is NAMA.

I reckon the announcement ( possibly next week) will be that NAMA will be “much larger than first envisaged” and blame the EU for “making us do it”

The people must be distracted while all this is going on, God help any Minister who bought a gerbil or a dwarf hamster at christmas is all I can say :smiley:

Better hope we win the rugby then.

https://www.youtube.com/watch?v=OM9lpP51LPw

I think its wrong to just think that they think that everything is viable , ski slopes in Cavan . Thats its a bailout for developers and bankers etc .
While they are as corrupt as you like and generally incompetent that can’t be that stupid . Anglo has been sitting there for something like 18 months doing nothing . The biggest loan transfer to NAMA will be from Anglo which means nothing as the state already owns it and is only moving the bad debt from one arm of the government to the other .
AIB and BOI are now ex banks and anybody who is brought into the circle , ie Alan Aherne , Alan Dukes etc become converts to government policy . Eamon Ryan even looks and acts like an FF 'er these days . The guy stood up in the Dail and made a complete fool of himself defending Willie .

What kind of a ’ crisis ’ goes on for 18 months to 2 years ? There is something very rotton at the hearts of those banks and its being covered up . The banking inquiry is even going to be held in secret .

I agree, everyone knows, and we have been talking about what could be so corrupt. Derivatives is what we have come up with so far.

But the thing is, they could be that stupid. They could believe that the awn-trup-inner class is required for recovery. That barristers and accountants and senior civil servant and hospital consultant retirement funds are crucial to the well-being of the state.

It looks as if the government are indeed leaving open the option of a budget in April.

The normal budget cycle does not commence until September and the DoF does not send out the what is known as the annual ‘end of the world’ budgetary parameters to depts. until June. So why the urgency in next Friday?

Jasus, thats a brutal figure :open_mouth: