Fate of Euro in Ireland's hands, says German Finance Minister

He3

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The fate of the single currency is now in Ireland's hands, a country in political turmoil.

German Finance Minister as quoted by Tony Connolly, RTÉ News at One, 23.11.10.

We are on the point of being put on the hook to the EU/IMF for unquantified bank liabilities. This would complete the process begun on the night of September 29 2008 by our elected representatives. We were told at the time it was the cheapest bank bailout in the world ("so far"). Now we know that Anglo alone is the most expensive bank bailout in history, reckoned per capita.

This was not a good idea then and it is still not a good idea now.

Some people criticise home-buyers for taking on loans they cannot service. We are on the point of being forced to do the same thing, without even the consolation of a home in return.
 
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noworries

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60 days was quoted recently, as to how long we had. I would put it at 30 now...... if we don't cop the fup on.
 

He3

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This looks like a lose/lose situation.
 

sking81

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The last time we heard this nonsense was with Lisbon 2, and if we're thick enough to believe it again then shame on us.

The fate of the Euro is in the markets hands, and the no-one elses. Whether we agree to this package or not, Portugal and Spain are next on the chopping block.

I've a feeling the German minister is terrified that previous German\Franco policy on the Euro, i.e. lending money cheap as chips to the PIGS, will be exposed as the cause as its true demise, and is looking for the easiest scapegoat that can be found to protect himself from his own electorate.

At the end of the day, all politics is local.
 

Cato

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Great, so let's threaten to let it all burn unless the ECB takes sole responsibility for bailing out the banks and not just Ireland.
 

Aindriu

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Great, so let's threaten to let it all burn unless the ECB takes sole responsibility for bailing out the banks and not just Ireland.
Burn it anyway. We would be better off. We could default then issue an punt nua then devalue.
 

Ulster-Lad

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If the fate of the Euro is in our hands then it is banjaxed.
 

Squire Allworthy

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Utter rubbish.

The salvation of the Euro does not depend on loading the citizens of member states with obligations that are not their responsibility. It is the opposite to the truth.

The Euro is not the Banks. In the process of Bank failure spreading then the value of the Euro may drop, but would that necessarily be a bad thing? In Argentina the currency dropped to a quarter its value and the country is doing fine.

Statements like this are all about maintaining the status quo. They are about political pressure.

Ignore him.
 

Cassandra Syndrome

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Great. Lets party while the Euro burns to death!

All we have to do is simply nothing.
 

He3

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NAMA - the only game in town

the budget - the only game in town
The blanket guarantee was also - the only game in town.

Pattern?

If someone has no plausible argument to justify their proposal, their only tactic left is to avoid having any argument at all. We should have learned by now where that brings us.


For another point of view have a look here - http://www.politics.ie/economy/143672-bust-better-than-bailout-irish-patient-matthew-lynn-bloomberg.html#post3200585
 

Squire Allworthy

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This rescue package will not work. The money cannot be repaid so high time someone thought of something that will work, in Ireland, in Greece, Spain, ............... even in Germany. The financial institutions of Europe are not the responsibility of the tax payers.

Time to think the unthinkable, as propping up the status quo will result in endlessly recurring problems. Press the reset button.
 

keepitreal

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Great. Lets party while the Euro burns to death!

All we have to do is simply nothing.
I'm sure the euro bigwigs are already churning a plan B and plan c given our position. But as always the eu muppets here bleat on about 'national interest' and how we have to make the hard decisions.... railroaded into making/accepting decisions with 11th hour deadlines all while backing a bunch of deadbeats who couldn't care less about anyone of us in the years to come. sickening.
 

He3

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This rescue package will not work. The money cannot be repaid so high time someone thought of something that will work, in Ireland, in Greece, Spain, ............... even in Germany. The financial institutions of Europe are not the responsibility of the tax payers.

Time to think the unthinkable, as propping up the status quo will result in endlessly recurring problems. Press the reset button.

Thinking is in short supply in Leinster House.
 

Squire Allworthy

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I'm sure the euro bigwigs are already churning a plan B and plan c given our position. But as always the eu muppets here bleat on about 'national interest' and how we have to make the hard decisions.... railroaded into making/accepting decisions with 11th hour deadlines all while backing a bunch of deadbeats who couldn't care less about anyone of us in the years to come. sickening.

The EU muppets who have any sense should see that this is a problem of Eurozone proportions and at that level there has to be a solution.It is not a Greek or Irish problem, it is a Eurozone problem.

The real problem is National wingnuts thinking what is good for Germany or wherever, but only taking a short view, and those chirping in who represent vested interests and want to ensure that those they support are isolated from the losses their decisions should incur.

Europe could do with a few good statesmen.
 

BeastfromtheEast

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This is the same kind of crap we got from that sort about Lisbon 2 ie. The future of Europe was in our hands. Complete and utter tripe.
 
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