Cowen's thick stubborness could bring down the Euro

[Cassandra Syndrome]

Cowen in an attempt to save his own skin and party, may have the unintended consequence of collapsing the Euro and indeed by extension the EU project.

The Euro is falling sharply and we are seen now to be too big to fail. Holding this out as long as possible plays neatly into our hands.

PS - Could there be another Flashcrash reminder from Wall Street like the one in May just before Greece resigned to the IMF, if we become too cheeky?

 

[rockofcashel]

when you're screwed in poker.. you may as well go all in eh CS

 

[clytaemnestra]

It would be ironic if he did inadvertently save Ireland by causing the implosion of the single currency...

 

[slippy wicket]

The bastard needs to be beaten over the head with a stallions pizzle.
He is a traitor to the country, to the people, and to the wider eu.
He needs to be sorted, and soonest.

 

[NFD100]

The government are desperately trying to get a guarantee on Corporation Tax. That is all. I don't blame them as if Europe gets its fingers on that - you might all as well say cheerio. I think the government are actually playing this well.

 

[danzatore]

From Dealbreaker.com

Ireland Might Get A Little Money To Tide Itself Over, If Country Can Swallow Its Pride
By BESS LEVIN

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The Journal reports that “European finance ministers working on an international aid package for Ireland want the U.K. to make bilateral loans to Dublin as part of a larger aid package that could total up to €100 billion ($136 billion) and include credit from the euro zone and International Monetary Fund,” according to people familiar with the matter. The deal for the banks would be around €45 billion to €50 billion, while “a broader package designed to restore confidence in Ireland’s public finances as well could range from €80 billion to €100 billion.” However, we’re not there yet, as some people are too proud to take a handout.

Irish leaders would prefer to avoid the stigma of an IMF program. IMF loans typically come with policy prescriptions and targets attached while forcing governments to relinquish a degree of sovereignty to the Washington-based institution.
Maybe they should talk to Citi? Vikram can assure them there’s no shame in this sort of thing and actually in some cases it can be quite fun, if you pretend you’re the main character is some sort of psychological thriller or video game.

 

[Bi ciuin]

Lets hope cowen holds out as long as possible then.

Screw the EU.

 

[master funk]

this script could not be made up

 

[antiestablishmentarian]

Van Rompuy said today that this is an existential crisis for the Euro, and if the Euro fell so too did Europe. Is it possible that the EU could be coming to the end of the line? That would have interesting repercussions.

 

[bayern]

Lets hope cowen holds out as long as possible then.

Screw the EU.

Superb logic, without the EU, Ireland would be completely doomed, the bailout is inevitable FF are employing delaying tactics in order to save political face, Cowen and the rest of the FF idiots have become a national embarrassment.

 

[Lord Wellington]

The government are desperately trying to get a guarantee on Corporation Tax. That is all. I don't blame them as if Europe gets its fingers on that - you might all as well say cheerio. I think the government are actually playing this well.

Corporation Tax has nothing to do with it.

EcoFin have no power on Corporation Tax.

Just a Fianna Fail red herring.

 

[McEavelli]

Some choice, the end of EU or end of the corporate tax rate.

Maybe we should have a referendum?

 

[Lord Wellington]

Lets hope cowen holds out as long as possible then.

Screw the EU.

I'm no fan of the EU continually expanding its reach.

But in no way can the behaviour of Cowen and Lenihan be considered smart. Remember Fianna Fail promoted every extension of EU powers.

 

[Mondo]

Sad and slovenly, looking at his shoes as Enda to it like it is.

 

[twohats]

From Dealbreaker.com

However, we’re not there yet, as some people are too proud to take a handout.

It would make you wish Bertie was still in charge, he was never too proud to accept a dig out when it was offered...

 

[Insole]

Europe is Not our enemy

Cowen and FF would have you believe that there is no need for a bailout until middle of next year. We are "financed" etc.
Bollix to that, like a bad neighbour keeping rubbish in his back garden attracting rats to the estate but won't let the sanitation workers past his door. He's the down & out Hobo PM of Europe in every way. This boils down to pride and as Bobert last night said, Cowen doesn't want to be remembered as the Taoiseach who saw us from Boom/bubble to bust and onto bailout & IMF. It's inevitable, but this lardarse has no scruples. Him first, then his developer and banker buddies, then party, then constituency and finally Country.
Cowenism is a malignent cancer which has spread from this little island to infect the population of Europe.
Shame on him and his cronies.

 

[owedtojoy]

It would be ironic if he did inadvertently save Ireland by causing the implosion of the single currency...

Not sure if we would be forgiven ... it would be back to playing footsie with our nearest neighbour because no one else would have us. We could rejoin sterling, or issue our own shinplasters.

And don't forget, we already way it with the ECB. I doubt if thay will let us off lightly.

 

[McEavelli]

Sad and slovenly, looking at his shoes as Enda to it like it is.

Was that Cowen's latest statement? Must have been in the bar since the 5 o'clock one.

 

[EUrJokingMeRight]

Trying to decide which of the following will prompt me finally to leave this place forever and in which order:

1) Ahern becomes Prez
2) IMF/EU move in and strangle all life out of the middle class via increased taxes. Services cut to the bone etc.
3) FF gombeen elected in Donegal by-election thus proving our fellow Irishmen haven't learned a single thing and we're doomed to play out this cyclical nightmare forever more.

Point 3 is the most likely scenario to occur given recent voting patterns in Ireland.
ie When more inbred gombeens vote than people with a functioning cerebral cortex then you get a 'point 3' reality.
When you have numerous iterations of a 'point 3' cycle, then you ultimately arrive at the inevitable 'point 2' crisis, as outlined above.
Point 1 aint gonna happen but pack your bags anyway cos two out of three aint bad.
Except it is bad.
Really bad.
Really Really Bad!

 

[Cassandra Syndrome]

Superb logic, without the EU, Ireland would be completely doomed, the bailout is inevitable FF are employing delaying tactics in order to save political face, Cowen and the rest of the FF idiots have become a national embarrassment.

What about Iceland? They are sorting their mess out and are playing hardball with their foreign creditors. Their private investment is increasing as they focus on fishing and geothermal and other resources that they have that they are good at.

We are a contagion that makes Lehman Bros look like manflu. We are one hell of a mutherfecking financial Ebola Virus.

Hello Barruso, we want to play a game...