Cowen confirms EU/IMF bailout will be 85 Billion

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Irish Taoiseach Brian Cowen has confirmed the country is negotiating an 85 billion euro (£71 billion) bailout loan from the International Monetary Fund and Europe (IMF/EU).

Mr Cowen said the figure has been discussed with the IMF/EU financial rescue mission during two days of talks in Dublin.
"The size of any programme has not been decided but an amount in the order of 85 billion has been discussed," the Taoiseach said.
85bn euro bailout talks confirmed - AOL News

Why is it that the foreign news outlets always pick up these stories before we here in Ireland do?
 


OceanFrog

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Makes an ("official") liar of Lenihan who claimed last weekend that the bailout would not be as much as €50/€60/€70 billion. I wonder how he'll spin his way out of this.

Lenihan's star is falling fast.



.
 
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Mike TV

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Didn't Lenihan say it would be 'tens of billions but not as high as 70 or 80 billion'?
 

Asparagus

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Didn't Lenihan say it would be 'tens of billions but not as high as 70 or 80 billion'?
He'll say he said "'tens of billions, butt knot, as high as 70 or 80 billion'

where butt knot is a curse used like "damn"
 

Oldira1

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Makes an ("official") liar of Lenihan who claimed last weekend that the bailout would not be as much as €50/€60/€70 billion. I wonder how he'll spin his way out of this.

Lenihan's star is falling fast.



.
Falling? It was never a star, more of a black hole.
 

Social Conscience

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Falling? It was never a star, more of a black hole.
FACT

With Clown telling us its a figure of €85 BILLION should we stand back and say it's most likely going to be closer to €130 BILLION?
 

He3

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Social Conscience

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Speaking in the Dail, Clown declined to say how much was being advanced as an “overdraft” because it was still in negotiation, but that “of the order of €85 billion is a figure that has been discussed” and it was “not a three figure sum”.

He was never great at maths thats for sure cos €85 BILLION is an 11 figure sum Brian as there are 9 zeros following the 8 & 5........This government speaks about such amounts as if they grow on trees. I feel sorry for the decent honest Joe/Jane Public and their children and their children's children.
 

Asparagus

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Speaking in the Dail, Clown declined to say how much was being advanced as an “overdraft” because it was still in negotiation, but that “of the order of €85 billion is a figure that has been discussed” and it was “not a three figure sum”.

He was never great at maths thats for sure cos €85 BILLION is an 11 figure sum Brian as there are 9 zeros following the 8 & 5........This government speaks about such amounts as if they grow on trees. I feel sorry for the decent honest Joe/Jane Public and their children and their children's children.
Overdrafts usually have high interest and punitive charges.
they are for resolving short term liquidity
Would he not be better consolidating it into a term loan or a mortgage.


85 billion is quite a lot still once we pay off the 85 million we'll be laughing and own Anglo outright.
 

Right is right

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Doesn't that 85bn include the 40bn or so we will have to borrow over next 4 years to pay our day to day living expenses in this country??
 

goosebump

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Doesn't that 85bn include the 40bn or so we will have to borrow over next 4 years to pay our day to day living expenses in this country??
Yes, its everything. We won't be borrowing from anyone else, and hopefully we won't have to use all of the €85bn facility, but I wouldn't bank on that.

The interest rate is the key thing now.

Hopefully, the idiots in the DOF have ceded as much sovereignty as possible in return for as low an interest rate as possible, and are not commiting us to something prohibitive just so they can continue tinkering with controls.
 
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He'll say he said "'tens of billions, butt knot, as high as 70 or 80 billion'

where butt knot is a curse used like "damn"
On TWIP lenihan stated to Richard Crowly (about 5 mins in)

R.C. "Are you talking tens of billions?"
B.L. "yes we are talking , of course we are talking about tens of billions"
R.C. Could it be seventy, eighty, ninety billion?"
B.L. " No, No, No, Nowhere near that"
 

irish_bob

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cowen and lennehan have obviously lost it , in many countries , a millitary coup would have happened at this stage , the thought of our nation being saddled with this multi generation mortgage is a prospect more frightening than any run on the banks , if we got strong leadership and made moves to form some sort of political and societal pact towards dealing with our problem in a realistic manner , we would be best served by defaulting , leaving the euro and dealing only with the IMF , this would involved wealth loss on a huge scale but at least we could wipe the slate , this gargantuan loan effectivley sells us into bondage under the EU

i think at this point every person of voting age needs to contact thier FG , LABOUR or SINN FEIN TD to hammer home the message that we will not be mortgaged to bail out irish and by proxy european banks , if they dont listen , we all need to get out on the streets , everyone is focusing on getting thier savings out but the bailout is far more serious , if its at a rate of %

btw , where the ************************ is our so called president right now

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TODevastated

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cowen and lennehan have obviously lost it , in many countries , a millitary coup would have happened at this stage , the thought of our nation being saddled with this multi generation mortgage is a prospect more frightening than any run on the banks , if we got strong leadership and made moves to form some sort of political and societal pact towards dealing with our problem in a realistic manner , we would be best served by defaulting , leaving the euro and dealing only with the IMF , this would involved wealth loss on a huge scale but at least we could wipe the slate , this gargantuan loan effectivley sells us into bondage under the EU

i think at this point every person of voting age needs to contact thier FG , LABOUR or SINN FEIN TD to hammer home the message that we will not be mortgaged to bail out irish and by proxy european banks , if they dont listen , we all need to get out on the streets , everyone is focusing on getting thier savings out but the bailout is far more serious , if its at a rate of %

btw , where the ************************ is our so called president right now

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and what could she possibly contribute to the debate??
 


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