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



44percent

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Put that with Gilmore's statement and have we two straws in the wind? Is our government actually getting to play hard ball with the EU?
 

EUrJokingMeRight

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I truelly hope so. Time is fast running out
Time ran out long ago....

A car hitting the wall is not the walls fault, but the fault of drivers misjudgement well beforehand.
 

Crazy horse 6

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The elite are in full on panic mode. Despite the spin the economy is in freefall and the Europeans see us as a laughing stock and have no intention of giving us a deal of substance. Dukes is a grade A spoofer.
 

YouKnowWhatIMeanLike

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The elite are in full on panic mode. Despite the spin the economy is in freefall and the Europeans see us as a laughing stock and have no intention of giving us a deal of substance. Dukes is a grade A spoffer.
he always was. but I think we should wait with the default thing after the last troika installment has reached government accounts at the end of the year.

in the meantime the promissory note payment can be settled with another long-term bond from Bank of Ireland.
 

Catalpast

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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.
Well lets not end up like Carthage anyway

- with Berlin as the New Rome...:?
 

Mad as Fish

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Well lets not end up like Carthage anyway

- with Berlin as the New Rome...:?
Here's an interesting insight into how Merkel might be looking at things -

Analysis of Chancellor Merkel Euro Crisis Approach - SPIEGEL ONLINE

Merkel's reality holds: Germany is strong, but not strong enough to keep a sick Europe going in the long term. "We want a European Germany, not a German Europe," author Thomas Mann said after the war. Merkel would probably subscribe to Mann's somewhat abstract statement. But in practical terms, she believes that it wouldn't hurt Europe to become a little more German, at least when it comes to incurring debt. How else is the Continent supposed to compete with the up-and-coming Asian economies?

You have been warned!
 

SPN

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The first question that will be asked after claming that we can't pay our sovereign debt is "Well how much can you pay?"

The answer to that will depend on how much we get from the forced sale of ALL State assets.

There would also be the small matter of Government overspending. 39% last year. 0% after the default.

Ireland will be a fun place to live post default.

Not!
 

viper999

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The elite are in full on panic mode. Despite the spin the economy is in freefall and the Europeans see us as a laughing stock and have no intention of giving us a deal of substance. Dukes is a grade A spoofer.
What do you mean i thought we are the poster boys of austerity, do you mean they lied??
its amazing the spin 15% unemployment and static, growth of 1% or less, rising debts, sweet f,eck all lending to business, rising numbers mortgage arrears , shrinking of number in employment, and close to a 1000 young people emmigrating a week.
This is what theposter boy looks like, what a fu.cking joke i want my country back
 

im axeled

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with the imf as the good cop, the ecb as the bad cop, surely something stinks to high heaven.
 

Expatriot

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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?
If you have an unsustainable debt defaulting is not a choice. A debt to GDP ratio of over 100% is accepted as unsustainable.

That seems to be a problem fact that a lot of people cannot process. We will not repay all of the debt in banking etc that we cannot afford because we cannot afford it.

Pretending we will can only go on so long. We are left with a selection of choices on how to go about not paying it, but short of a massive oil find we are not going to be paying it. The ECB seems to be even slower at coming to terms with this than most Irish people.

We never promised in any meaningful way to honour these debts, the vast majority of opinion was always against such perverse banking funding. It is not going to happen long term.
 


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