BBC News, 11.38am EU begins Irish Republic bail-out talks



paulp

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We get to that point, if ever, only after they've managed to convince us that we should do the decent thing for them.
Surely they convince us by discussing the terms?
anyway, we'll go round in circles here
 

GDPR

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The EU "Doesn't matter" Or: It was you and your stupid government you moron, how do you not realise by now that the your political party FF caused this. Now for the reminder of the meeting shut up and look at the floor you massive idiot. SPA
Instead of which they issue statements supporting everything the Government has done, but you obviously know better.
 

DJCB33

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Instead of which they issue statements supporting everything the Government has done, but you obviously know better.
They haven't supported or cared about the Irish people in this, they support the shower of spas running this place cause they thought they would get their banks cash back. What we are seeing now is the walk through the looking glass, Europe have copped on to the fact they were duped by FF spoofing on banking figures. CJ would have been proud till yesterday, now the man who sat with a picture of Pearse over his head may have lead us back to Sterling according to another thread on this forum.
 

SeanMac

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So,are we going back into de hands of de saxon/brit/perfidious albion oppressors?is this what PEARSE,TONE,EMMET,THAT SCOTTISH BLOKE..EH CONNOLLY made de ultimate sacrifice for?Is this what de long fella kept us in poverty for,fought a disastorus economic war in the thirties for?for shame..There will be no more trips to New York to buy Prada,no more expreeso/double latte hits,cocaine?pasta?NO its back to tea,spuds,dunnes stores,and low grade heroin for us now.
 

sport02

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Did a FF backbencher just admit the goverment are negogiating with the IMF on RTE Radio One, something Brian Clowen denied a few hours ago, anybody else hear the FF backbencher accept there are negogiations going on.
 

Mister men

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So,are we going back into de hands of de saxon/brit/perfidious albion oppressors?is this what PEARSE,TONE,EMMET,THAT SCOTTISH BLOKE..EH CONNOLLY made de ultimate sacrifice for?Is this what de long fella kept us in poverty for,fought a disastorus economic war in the thirties for?for shame..There will be no more trips to New York to buy Prada,no more expreeso/double latte hits,cocaine?pasta?NO its back to tea,spuds,dunnes stores,and low grade heroin for us now.
Oh there will be plenty of trips to New York alright but it will be people looking for work not prada.
 

Clanrickard

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Instead of which they issue statements supporting everything the Government has done, but you obviously know better.
Well they are not going to not support them as that would make things worse. They are not stupid they warned as far back as that chancer McCreevy's time that we were on the wrong path but their advice went unheeded.
 

Clanrickard

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Except of course after Mrs Gobby opened her mouth, the rates when up, a lot and after she was forced to clarify, they went down, a lot.

Strange no?
Angie came up with the idea that Taxpayers, more specifically her taxpayers, shouldn't foot the entire bill. When she said this our bond yields were near 8% and yes they rose higher after her comments but why do you think they as high as they were in the first place before she opened her mouth. And since she has clarified why are they not down to say 5%?
 

GDPR

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Angie came up with the idea that Taxpayers, more specifically her taxpayers, shouldn't foot the entire bill. When she said this our bond yields were near 8% and yes they rose higher after her comments but why do you think they as high as they were in the first place before she opened her mouth. And since she has clarified why are they not down to say 5%?
Not true, our rate had just dipped back under 6% when she got her bright idea and they dropped by over 1% as soon as the clarification came through.

I don't mind that she wants to save taxpayers, but I do mind that she only thought that was a good idea just after we, the Irish taxpayer, had paid her banks back in full.
 

sport02

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Not true, our rate had just dipped back under 6% when she got her bright idea and they dropped by over 1% as soon as the clarification came through.

I don't mind that she wants to save taxpayers, but I do mind that she only thought that was a good idea just after we, the Irish taxpayer, had paid her banks back in full.
When she intially made her comments are bond rates went from 8% to 9.25%, after her comments were clarified in Korea, the following day our rate fell down to the low 8's and fianlly just under 8%.

Where are you getting under 6%?
 

atlantic

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bailout for European banks and Euro ,Ireland is a side note

200 bill UK
170 BILLION GERMAY
70 BILLION USA
60 BILLION France
Whilst Brian Cowen is repeating his mantra that there are no talks, we rely on non national media

European finance ministers are meeting in Brussels, with the issue of a possible bail-out of the Irish Republic still top of the agenda.

EU finance commissioner Ollie Rehn said on Tuesday plans were being made for a potential rescue programme, should the Irish government ask for help.

As he arrived for the meeting, Mr Rehn said the EU was engaged in "effective" consultation with the Irish government.

British Chancellor George Osborne said the UK was "ready to support Ireland".

'Strong interconnection'

When asked if the UK should assist the Irish Republic, Mr Rehn said: "That is under discussion and it is natural because the United Kingdom and UK banks have a very significant exposure in Ireland.

"There is a very strong interconnection in the banking sector and the financial system between the two countries."

Mr Osborne said: "We're going to do what is in Britain's national interest.

"Ireland is our closest neighbour and it's in Britain's national interest that the Irish economy is successful and we have a stable banking system," he said, ahead of the meeting of the Economic and Financial Affairs Council (Ecofin).

BBC News - EU begins Irish Republic bail-out talks
 

Libero

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The sub head;

"European finance ministers are meeting in Brussels, with the issue of a possible bail-out of the Irish Republic still top of the agenda."

Can you explain to me how we could be involved in discussions on the terms of a "bailout" when the finance ministers of the EU have yet to discuss "the issue of a possible bail-out".
You appear to have missed the significance of the word "still" in that first quoted sentence.
 

Ganyer

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GDPR

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The 493 basis point on the irish 10yr refers to the irish german yield spread -i.e. difference between rates of return.
German 10 yr at the time was 265 basis points or thereabouts- meaning irish 10yr was at close to 8%. The Irish 10 year certainly wasn't under 5% at the time of Merkel's comments as you seem to be suggesting.
I said it was just under 6%, not 5% as you say.

That article was more than week after she started and as it says the rate had been on the rise for 7 straight days at the time of writing.


"Irish bonds fell for a seventh day, sending the 10-year yield to a euro-era record. Greek bonds were little changed after a run of seven straight declines, the longest losing streak since April. The euro was little changed at $1.4033 at 9:56 a.m. Frankfurt time.

European Central Bank President Jean-Claude Trichet told EU leaders last week he’s concerned that talk of a debt restructuring model from 2013 will hurt the bonds of the euro- region’s so-called peripheral nations, according to an EU official familiar with the discussions."
 

GDPR

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Tonic, the last time IRELAND went to the markers we borrowed at a rate of 6.5% or very near there abouts, Merkel made her statements after our last visit to the bond markets, so your remark about under 6% is incorrect.
It was a tad over 6%, 6.03% or there abouts, it then fell back to under 6%, low 5's I think, 5.2 or 3 during October before starting to rise again late the same month courtesy of Merkel and local German politics.
 


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