Euro slide continues as Irish debt fears persist

Aindriu

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The euro has continued its slide against the dollar as investors digest the Irish Republic's austerity plan.
The currency fell by almost half a cent to $1.3325, and has now fallen by more than three cents this week.
The four-year Irish plan is designed to save 15bn euros ($20bn; £13bn) through spending cuts and tax rises, but investors remain unconvinced.
Full article here.
 


Cassandra Syndrome

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Leprechaun contagion bitchez!!!
 

Freedom front

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Irish debt fears - Irish Debt default is a mater of weeks away, Our Sovereign debt will be 260 Billion Shortly & there is no way we can pay the 12/15 Billion yearly interest repayments.
 

taurus

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Investors, bondholders, markets, etc etc we're all probabaly watchin VB show on tv3. All experts , genuine financial experts as opposed to solicitors, teachers and farmers , have stated that it is impossible to re-pay the amount of debt this country has. Figures in the region of 240/300 billion have been mentioned. We need to fight back against the EU /IMF this is crazy , 6 billion is only tinkering with the figures !!!
 

Mister men

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The nuclear option is the way forward. Debt forgiveness or we will collapse the euro. Time to play hard ball.
 

Tea Party Patriot

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It is becoming oblivious now to investors that the level of loans that Ireland will require to stabilise its banking system will not be repayable. The €85 billion alone will add a further €4.5 billion a year to our deficit, and it is still not established by any means that this amount will be sufficient to save the banks.

With Spain’s bond offering failing to be sold in full this week, Portugal’s debt to GDP ratio heading well above 100% and Greece falling flat on its face yet again the black hole is beginning to grow.

The only way that all this debt can be tackled is by quantative easing, printing away it’s value and eroding the currency. The Germans will be first to pull out, probably within the next year and this becomes more apparent.

The bad banks should have been left go, they are in reality unsalvageable, the ECB trying to prop them up reminds me of a quote from Ayn Rand:
If you saw Atlas, the giant who holds the world on his shoulders, if you saw that he stood, blood running down his chest, his knees buckling, his arms trembling but still trying to hold the world aloft with the last of his strength, and the greater the effort the heavier the world bore down upon his shoulders--what would you tell him to do?"

I would tell him to let the bad banks go before it is too late to prevent the Eurozone and any chance of medium term recovery disappearing.
 

Akrasia

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Does anyone know what happens to our debt (denominated in Euros) if the Euro collapses?

If we could somehow withdraw from the euro, peg to STG and wait for the euro to collapse, If the euro falls by 70%, wouldn't this mean our foreign debt woul;d fall by 70%?
 

Aindriu

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An excellent video and this fellas is dead right!
 

HarshBuzz

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fecking clearinghouses aren't helping at all by upping collateral requirements for irish sovereign debt - AGAIN

45% now

Irish yields well North of 9% and the contagion conga is the dance of choice in s************************y euro ballrooms

market consensus is that the Irish bailout is a farce
 


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