Alan Dukes: If Germany Is Daft Enough To Pay 100% Of Its Sovereign Debt Let Them Pay But We Can Default

YouKnowWhatIMeanLike

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Alan Dukes: If Germany Is Daft Enough To Pay 100% Of Its Sovereign Debt Let Them Pay But We Can Default

Alan Dukes Chairman of Anglo Irish Bank (IBRC ) and former leader of Fine Gael just came up with an novel and attractive proposal on Marian Finucane.

Here is the Dukes deal: Let all the Eurozone countries with a certain high debt to GDP ratio such as Ireland, Greece, Spain, Italy default on all its sovereign debt. And let the Germans pay 100% of their sovereign debt if they are daft enough to do so.

Is that a viable proposal by Alan Dukes?
 
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Catalpast

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Alan Dukes Chairman of Anglo Irish Bank (IBRC ) just came up with an attractive proposal on Marian Finucane.

Here is the Dukes deal: Let all the Eurozone countries with a certain high debt to GDP such as Ireland, Greece, Spain, Italy default on all its sovereign debt. And let the Germans pay 100% of their sovereign debt if they are daft enough to do so.

Is that a viable proposal by Alan Dukes?
No

But if AD is now so dissilusioned by the the dominance of the Central Powers

- then that is worth making note of

Europa Conventus Delenda Est
 

tigerben

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Alan Dukes was sure this plan would work, but it was too simple for the EU to go ahead and do it. Rabbitte back to the standing of the country, Bank machines with no cash and still softly softly to our masters.
 

Analyzer

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Kind of inevitable, considering the way the institutional state is still funding hundreds of useless quangos, semi-quangos, businesses. Plus NAMA. Plus Pillar Banks. Plus thousands of useless professionals on contract at extortionate fees.
 

YouKnowWhatIMeanLike

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Alan Dukes was sure this plan would work, but it was too simple for the EU to go ahead and do it. Rabbitte back to the standing of the country, Bank machines with no cash and still softly softly to our masters.
Alan Dukes is a man with some standing in Irish society, if he recommends to talk business with the Germans maybe it is time to do so. everyone needs to look after themselves.
 
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Iphonista

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Hey Alan, how about we just shut down IBRC and default on your banking debt?
 

Green.Back

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Are the Dublin elite finally realising that our 'partners' in Europe are fine with the Irish getting screwed?
 

DCon

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How would Germany possibly pay all it's debt if Deutsche Bank was forced to realise its derivative losses (something that the PIIGS defaulting could prompt).

DB is massive in comparison to the German economy

Chief Executive Officer Josef Ackermann, who has called proposals to limit bank size “misguided,” will leave behind a balance sheet about 40 percent larger than in 2006, and more than 80 percent as big as Germany’s economy, when he steps down in May. The firm is the second-most leveraged and third-least capitalized of Europe’s 10 largest banks, even after Ackermann boosted reserves and trimmed dependence on borrowed money.
Deutsche Bank No. 1 in Europe as Leverage Hits Valuation - Bloomberg
 

44percent

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No

But if AD is now so dissilusioned by the the dominance of the Central Powers

- then that is worth making note of

Europa Conventus Delenda Est
It is a long time since I heard "delenda est" and you have a point. If the post WW2 settlement is beginning to unravel then we are in for turbulence.
 

Brock Landers

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Are the Dublin elite finally realising that our 'partners' in Europe are fine with the Irish getting screwed?
Perhaps, provided that 'Dublin Elite' doesn't include, Rabbitte, Kenny, Gilmore and the rest of the self-interested kiss arses.
 

Green.Back

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Too late.

Fianna Fail nationalised it.
Correct
Ireland's options have been severely limited by this and the last government. They have painted the country into a corner.

"Failure to conclude negotiations on the promissory note would have a potentially catastrophic effect on Ireland," Gilmore will tell the meeting being attended by EU Commission President Jose Manuel Barroso, European Council president Herman van Rompuy and German Chancellor Angela Merkel."
Ireland warns about impact of a bank debt deal failure | Reuters

It's clear there isn't going to be a deal on PNs.
 

Lempo

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Alan Dukes Chairman of Anglo Irish Bank (IBRC ) and former leader of the Fine Gael just came up with an novel and attractive proposal on Marian Finucane.

Here is the Dukes deal: Let all the Eurozone countries with a certain high debt to GDP such as Ireland, Greece, Spain, Italy default on all its sovereign debt. And let the Germans pay 100% of their sovereign debt if they are daft enough to do so.

Is that a viable proposal by Alan Dukes?
All, as in 0 % debt left to owe to anyone? Cataclysmic.
 

Rocky

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Alan Dukes Chairman of Anglo Irish Bank (IBRC ) and former leader of the Fine Gael just came up with an novel and attractive proposal on Marian Finucane.

Here is the Dukes deal: Let all the Eurozone countries with a certain high debt to GDP such as Ireland, Greece, Spain, Italy default on all its sovereign debt. And let the Germans pay 100% of their sovereign debt if they are daft enough to do so.

Is that a viable proposal by Alan Dukes?
So Dukes is suggesting that the PIIGS collapse the Euro, the EU and basically the World Economy. Interesting idea, I'll give him that.
 


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