Why would Merkel encourage a discount for bondholders though if the German banks are holding those flaky bonds?
Christ newsnight isn’t pretty. This is how some Irish men said thanks for 80 billion says Jeremy over scenes of riots outside the Dail. Not good
Here’s Cowen’s speech from earlier for anyone who missed it:
Newsnght in Parnell Park
Simon Kelly ffs
saw this on politics.ie what do the resident financial experts make of it, is it true, is it possibe ?? waht banks will finance them
Jaysus I reckon the gardai will be on some overtime from now until the next government is formed with the way things are going. Each of the FF candidates that go out canvassing will need to have a garda escort for their own safety, I can see some of them getting attacked on the doorsteps. Hopefully O’Cuiv will be saying a few prayers for them.
To stoke up the bailout move across Europe sure there was zero opposition in Ireland to taking out loans to pay the likes of Hypo, all the other countries will fall in line until the money runs out.
A discount maybe better than nothing if the finances of all EU countries are interlinked surely a mass default is only a matter of time
You just couldn’t rule it out in this country anyway. Certainly seems possible, though I’d imagine it would be easier to do with a relative so credit could be advanced etc.
Anyone else think major civil disobedience might help? It has been widely commentated on how easily we have accepted the measures already so we are seen as a soft touch. Major civil disobedience could be what is needed in order for the outside world to get the message that we ain’t for messing with
John Bruton getting heckled by taxi drivers while being interviewed by Paxman
seems very unfair but whats fair got to do with it
Reasonably high-risk strategy but not impossible I guess. Calling everyone else’s bluff in other words. But you’re right with the last bit I reckon… it may only be deferring the problem. We’re now paying interest to the ECB to thank them for propping up the bonds their shareholders are investing in. But how long can that last for? The IMF angle is a bit more interesting, that’s effectively a way of the entire EU getting a loan from the US.
What was that cunt saying? I posted something on here from him before at the time of Sean Quinn v the regulator fiasco. He was saying it was an insult to great men like Quinn or Sean Dunne that they should have to explain their business dealings to the public. If I remember correctly his argument was that it was the public who lost their nerve and stopped borrowing, so it the crisis was squarely their fault.
Yes future generations will be disgusted by the lack of national pride. We are getting loans to pay the likes of Roman Abramovich for their bad investments. How much is too much. That budget cannot be passed. Fuck them if we are going down let’s take down everyone with us is my attitude. I’d love to know the true picture of the French and German banks. I’d say it ain’t too pretty. Let’s call their bluff for a change.
How up to their necks are the US banks in the Euro bond market is the question I would be asking.
Legendary economist Irwin Stelzer reckons we willl leave the euro devalue like fuck and then rejoin the euro. Sounds plausible.
There are two main reasons for the absence of ‘civil disobedience’.
Firstly, a large proportion of the population have not had their living standards adversely impacted as of yet by the crisis. That will change after the budget. Secondly, the key mechanism for civil dissent is local organisation, or highly organised national workers organisations. Neither exist to any meaningful extent in Ireland. Therefore most people have no means of acting on their anger. That’s the reality of it.
It is a slow day in a damp little Irish town. The rain is beating down and the streets are deserted. Times are tough, everybody is in debt, and everybody lives on credit. On this particular day a rich German tourist is driving through the town, stops at the local hotel and lays a €100 note on the desk, telling the hotel owner he wants to inspect the rooms upstairs in order to pick one to spend the night. The owner gives him some keys and, as soon as the visitor has walked upstairs, the hotelier grabs the €100 note and runs next door to pay his debt to the butcher. The butcher takes the €100 note and runs down the street to repay his debt to the pig farmer. The pig farmer takes the €100 note and heads off to pay his bill at the supplier of feed and fuel. The guy at the Farmers’ Co-op takes the €100 note and runs to pay his drinks bill at the pub. The publican slips the money along to the local prostitute drinking at the bar, who has also been facing hard times and has had to offer him “services” on credit. The hooker then rushes to the hotel and pays off her room bill to the hotel owner with the €100 note. The hotel proprietor then places the €100 note back on the counter so the rich traveller will not suspect anything. At that moment the traveller comes down the stairs, picks up the €100 note, states that the rooms are not satisfactory, pockets the money, and leaves town. No one produced anything. No one earned anything. However, the whole town is now out of debt and looking to the future with a lot more optimism. And that, Ladies and Gentlemen, is how the bailout package works.
:lol: who wrote that lar?