CMA Global Sovereign Credit Risk report


Well-known member
Sep 25, 2009
Why did it take until now for a national consensus to be called, in order to tackle our problems?

From now on, the minds of our Administrators etc will not be unduly challenged. The main priority for them will be how to fill the hole and retain popularity!

The time to make the best use of the skills, knowledge of bankers, accountants, auditors, public administrators was ten years ago when they were approached with detailed arguments and rational reasoning on the vicissitudes of the monetary system; how the whole mortgage charade would implode on us. It was explained that Ireland’s planners, economists should take EU and Irish demographics into account not only for the advantages derived, but also for the threats lying therein; even the threats were spelled out. All that they could come back with was that one was all over the place!

Now, we have that great mind, Peter Bacon, the originator of the NAMA concept coming out with the suggestion that our National assets should be sold off and proceeds handed out to mortgage holders; so as, wait for it –to increase spending throughout the economy. A concept that is known to the readers of
It is my contention that the annual repayment portion €6bn representing the over payment on house purchases will cripple our economy. All our economic negative indicators is directly related to this leakage out of the system of working capital. It affects every bodies lives; it is the action that knocks down the whole pack of cards. Our economy can not work with this massive hole, through which the hard income of our young men and women just flows away out of circulation. THIS SITUATION MUST BE SOLVED. It can be done in two ways
But, the powers that be, decided in their wisdom to rescue the developers, favourite banks etc via NAMA.

Now, they are realising that NAMA will not work if the people have no money to spend. The utter incomprehension displayed by our overseers, the past ten years is mind boggling! Instead the people who have been scampering around protecting their own corner are to end up with nothing as well; so bad the Irish situation was let get out of hand.
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Well-known member
Oct 1, 2008
Look on the bright side

That's one table with us ahead of Russia, Slovakia and Armenia.


Well-known member
May 27, 2009
We are so screwed, despite working hard, being a competent professional, and not running up debts we couldn't service, it was all predicated on having a source of income.

With sources of oncome drying up we are left with no option but to sell up and follow the work, like itinerants. Some country to have given 20 years of your career to.

Small confort that most of the masters of industry who caused this nightmare are smeared with this disaster, or that it happened when the original good time boy, Bertie was still alive to see the results of his laissez faire beliefs in the market coming up against the stark realisation that free markets, if left to themselves, can destroy a society.

Squire Allworthy

Well-known member
May 31, 2007

Ireland was the worst performing sovereign in the third quarter.
And although the spread has come in a bit in the last few days we have actually moved up from 6th most risky at the time of the report to 5th most risky.

It is worth taking a few minutes to glance through the linked publication. An interesting read.

Three eurozone members in the top ten - I welcome this. Break-up looking more and more conceivable.
Have a glance through this link about one of the countries above Ireland in that table. I know which I believe to be better placed to pay off debt.

UPDATE 2-Argentine economy sustains rebound in second quarter | Reuters

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