How not to “reinforce international market confidence”

ForYourInfo

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Sep 19, 2007
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An Irish Times editorial today says:

"There are many reasons explaining the relentless ratcheting up of bond yields since the summer, even if it is impossible to disentangle the degree to which each individual reason accounts for the overall effect."
However, there must at least be some identifiable cause and effect. If there wasn't, the writer wouldn't be confidently able to say later on in the piece:

"Most recently, the insistence of the German chancellor, Angela Merkel, on driving forward plans to ensure that investors in the future bear the cost of their own poor decisions led many of those who still hold Irish government debt to ditch it. Ms Merkel is unquestionably correct in her view that bondholders, not taxpayers, must take losses when incurred and that structures must be put in place to ensure that this happens. But she was mistaken to place so much emphasis on it at a time of such financial fragility. Ireland has paid a high price."
In the last chance saloon - The Irish Times - Sat, Nov 13, 2010

And if we are really in the "the last chance saloon" we should, at this stage, know the correct next move.

With this in mind...

Below is a link to a graph attempting to chart government policy vs market reaction. In this case using the 10 Year Government Bonds (GIGB10YR:IND) as marker of market reaction and plotting major policy and banking moves along that timeline.

How not to “reinforce international market confidence” « MediaBite Blog

 
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AirTurbulence

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Sep 14, 2010
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Sack the government and outsource governance to Scandinavians. Little chance of vested interested, boys for the jobs and the rest of the cr&p that reigns here.
 

Mister men

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Sack the government and outsource governance to Scandinavians. Little chance of vested interested, boys for the jobs and the rest of the cr&p that reigns here.
In a perfect world we would rid the country of the small time small minded gangsters we have at present who only do things for the good of their party and their constituents and not the country as a whole. We need to banish the Jackie Healy Rae's of this country once and for all.
 

AirTurbulence

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The thread title is actually "how NOT to" - ja, posting early is fraught with dangerous. Sorry lads!
 

SideysGhost

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Nov 30, 2009
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FFS, what a shower of ludicrous goons we have in charge of Ireland. Imagine the sheer hubris of a bunch of bankrupt cowboys sneeringly wagging the finger at the Chancellor of Germany.

We've gone way past mere farce now.
 


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