So it’s looking almost certain that Spain will be going cap in hand to the Trioka over the weekend to bail out it’s banks.
It’s probably a good thing for us as Spain will be doing everything they can to try and keep this bailout seperate to sovereign debt, which may open the door for us to push for a similar deal. Cost of the bailout is estimiated to be anywhere from €40bn to €100bn
Whatever the number is, double it.
And that’s only bailout part one
€100bn in aid agreed for Spain.
Seems to be a bit of confusion around how it will be implemented.
[quote=“The Runt, post: 520195”]€100bn in aid agreed for Spain.
Seems to be a bit of confusion around how it will be implemented.[/quote]
They will cobble something together, they will all fuck off on holiday in August and it will all blow up again. And again and again and again and again.
It didn’t even make it to lunch time today let alone August :lol:
Bond yields shot up for Spain and Italy today. The world is fucked.
Oh and Cyprus are also going to be seeking a bailout within the next couple of days, the 5th Eurozone country to do so.
Runt we anxiously await your thoughts on this mornings rumour italy are to seek a bailout.
is this the death knell for the euro.
should i move my 100K savings out of the euro into say sterling?
Things have really escalated the past couple of days alright.
Italy had a “disasterous” bond auction today where it ended up paying 3.972% on 1 year bonds, this compares to 2.34% last month.
Greek banks have been hemorrhaging money this month, with €700m being withdrawn yesterday alone. This is up form 100m a day last month.
I think the Triokas insistance that the Spanish bank bailout be tied into it’s sovergn debt has been the tipping point. It’s like the economists have been saying since the start of this crisis, you can’t solve a debt crisis by loading a country with more debt.
Just bought seven grand’s worth of baked beans today
How would one go about opening a sterling account?
go to london and you can open a lloyds account with a passport and a postal address.
Fair enough. Can you open one from Ireland? Or would opening a sterling account for a few grand of savings even be the best bet?
not sure about the first bit. sterling i s pretty reliable as is swiss franc and norweigian krone.
apparently there is masses of money flowing into english banks from greek accounts.
Italy does not need a bailout. Most of the Italian national debt is owed to the people of Italy. Forza Italia!
Meanwhile consumer volume continues to be shite on our little island and the slow death continues. My correspondents are starting to lose faith in a levelling off leading to recovery in 2016.
but try telling that to the unions we are dealing with …
Spanish bonds still on the climb this morning, up to 6.94%, their highest ever level since joining the Eurozone.
This follows Moody’s downgrading Spanish bonds by 3 notches last night, meaning they are now just one rating above junk status.
I was listening to Newstalk late last night and it was a repeated current affairs program. They were banging on about AIB inflicting pay cuts and freezes on staff. I thought the repeat was from 2008 or so, given the mess we’ve been in since then. It was yesterday fucking lunch time and some of the measures don’t come into effect until 2013. FFS sake. Someone was crying that a 15% cut could mean as much as 100k to some people. Well that means they’ve as little as 560k left. FFS sake.
And IBOA actually have the kneck to engage on these cuts and freezes.
What part of unions position do you object to ciaran as matter of interest?
The end is nigh, if the Greeks walk Ze Germans will have to suck it up and allow bank debt be recapitalized centrally or we are in for a global crisis that will dwarf Lehman brothers.