IMF names it's terms

anewbeginning

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Well it looks like our new rulers have finally drawn up their terms for handing over the money.

IMF names its price - National News, Frontpage - Independent.ie

Among the conditions are:

Every week, the Government must tell the IMF, the EU and ECB what money it is taking in and spending.
The banks must reveal what loans they've given out every week.
The numbers and salaries of all those working in the public sector must be disclosed every three months.
The banks must give detailed information on deposits every month, including how long deposits will stay in the banks and whether they're from householders, companies or other banks.
The banks must state how much debt they have falling due over the next 36 months on a monthly basis.
Sheltered professions, including lawyers, doctors and pharmacists will face radical changes within nine months as part of a plan to drive down costs and increase growth in the services sector.
The State will have to sell off its stakes in Irish banks "within the shortest timeframe possible".
These boys certainly don't mess about. No nod and a wink Croke Park or cosy partnership agreements with the unions when the IMF are involved.

But a couple of positive conditions in there, especially the one about the banks being transparent about the loans they are giving out. Hopefully it will mean an end to bank "loans" to the likes of Celia Larkin and other friends of prominant politicians.

The asset strippers like Tony O'Reilly, Denis O'Brien, Dermot Desmond and Goldman Sachs will be happy about the sale of semi states.

At least FF will be happy with some of the terms, they will still be able to help asset stripping friends. Maybe Cowen will get a job with one of those asset stripping companies?
 
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flavirostris

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I assume disclosure of salaries extends to semi-states and quangoes as well
 

constitutionus

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the beards were all over the radio shows today on this souding either resigned (blair horan) or abjectly terrified (liam doran).

and who can blame them.

theyve been kicking "reform" of the PS down the street for years whether your talking about the benchmarking agreements or the croke park deal.

now the IMF are catagorically saying "sort it in 9 months or your not getting paid".

theyre not used to people actually expecting results and checking for em on a weekly basis

:)

i bet alot of em hoped to do a macloone and retire before having to actually DO anything.

fun times ahead.
 

anewbeginning

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It's sad to think that reform has to imposed on us and Fianna Fail from outside. Some of these reforms wouldn't happen in a thousand years if left to our own devices and I include the other political parties in that.

While there are a lot of negatives to IMF involvement, at least there are some plusses, in that they will keep our corrupt politicians, unions and bankers on their toes and held to some account.
 
M

MrFunkyBoogaloo

Anyone who defaults on the IMF loan, not to mention banks, post haste, will get my vote. Anyone who draws it down is a traitor.
 

darkhorse

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Finally we have a Government who is no longer permitted to waste any more taxpayers money
The IMF will be watching State expenditure on a monthly monthly basis and there is no room for any more codology
Its a shame that it took this much to get a proper Government
 

Super8

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I'm due a few hundred euro back in overpaid tax. Usually you just get the cheque with the statement. But the letter said the matter would be dealt with as soon as possible.

That's very odd. They should be paying me immediately. Is our country so broke that it can't pay tax rebates?
 

FakeViking

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Finally we have a Government who is no longer permitted to waste any more taxpayers money
The IMF will be watching State expenditure on a monthly monthly basis and there is no room for any more codology
Its a shame that it took this much to get a proper Government
Meanwhile back in Paddyland senior Govt Ministers are allowed to resign with an incredibly generous package, regardless of their utter inepitude.
 

constitutionus

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Finally we have a Government who is no longer permitted to waste any more taxpayers money
The IMF will be watching State expenditure on a monthly monthly basis and there is no room for any more codology
Its a shame that it took this much to get a proper Government
wouldnt you LOVE to be a fly on the wall when the first figures come in to IMF headquarters !

"theyre speding X on what ? and where ? how come half these lads are related to or riding each other !? how'd that qualifiy em for the job ! 'nuf of THAT crap get brian on the phone !"

:)

first few reports would be eye watering if we got a look at em ! please GOD let there be leaks.

:)

by way blair horan on the last word now on this.
 

darkhorse

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Meanwhile back in Paddyland senior Govt Ministers are allowed to resign with an incredibly generous package, regardless of their utter inepitude.
Well lets hope the IMF will call a halt to those and all other ridiculous PS pension payments
 

greenwithirony

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Nice to see lawyers, doctors and pharmacists in there too, whodathunk? What's the difference in pay between consultants here & in NI again can anyone remember?
 

anewbeginning

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I personally like the IMF direct approach of putting a gun to the heads of Irish politicians and unions and telling them to do this or else. It's nice to see someone dictating to our politicians, since clearly they won't be dictated to by the Irish people, who they seem to treat like serfs.

The Irish political approach to the same reforms above would be to draw up a long and costly report, which is published the day before a Dail recess and is then forgotten about for a few decades.

Hopefully the era of "Report" culture among the politicians and public sector is over and the day of actually doing something is upon us.

I just hope Cowen doesn't suggest he should stick around to implement the IMF measures. He's clearly clinging to power as it is.
 

NFD100

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the beards were all over the radio shows today on this souding either resigned (blair horan) or abjectly terrified (liam doran).

and who can blame them.

theyve been kicking "reform" of the PS down the street for years whether your talking about the benchmarking agreements or the croke park deal.

now the IMF are catagorically saying "sort it in 9 months or your not getting paid".

theyre not used to people actually expecting results and checking for em on a weekly basis

:)

i bet alot of em hoped to do a macloone and retire before having to actually DO anything.

fun times ahead.
Yes, big change is coming and about time too!
 

anewbeginning

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And to think some people were marching against IMF involvement!

I expect the consultants to take a 100,000 euro annual paycut...and if they don't like it, they can emigrate and we'll get in Cuban consultants who will do it for a tenth the salary.

Definitely some pros and cons to IMF involvement, and unpicking some of the bad deals by Cowen, Harney and co. is definitely among the positives.
 

blinding

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I'm due a few hundred euro back in overpaid tax. Usually you just get the cheque with the statement. But the letter said the matter would be dealt with as soon as possible.

That's very odd. They should be paying me immediately. Is our country so broke that it can't pay tax rebates?
Are you taking the pish. Gather any money that you have and send it to the EU and IMF and while your at it send a letter to FFailure thanking them for "doing you well".
 

NFD100

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And to think some people were marching against IMF involvement!

I expect the consultants to take a 100,000 euro annual paycut...and if they don't like it, they can emigrate and we'll get in Cuban consultants who will do it for a tenth the salary.
+1. They won't get paid as much elsewhere.
 

anewbeginning

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Finally we have a Government who is no longer permitted to waste any more taxpayers money
The IMF will be watching State expenditure on a monthly monthly basis and there is no room for any more codology
Its a shame that it took this much to get a proper Government
+1

E-Voting, The National Conference Centre, The Glass Bottle site purchase, and Thorntan Hall deals would not have gone ahead if the IMF were ruling us back then.

And that's just the tip of the iceberg. FAS would not be getting 1 billion a year and would be asked to account for every last cent. We wouldn't have half the quangos. I could go on and on. Basically, everything would be scrutinised and value for money would be prioritised. The leeway for kickback deals so beloved of Fianna Fail politicians would be reduced.

No-one likes having the IMF involved, but if only we had the IMF in ten years ago calling the shots, we wouldn't be where we are today.
 
M

MrFunkyBoogaloo

I personally like the IMF direct approach of putting a gun to the heads of Irish politicians and unions and telling them to do this or else. It's nice to see someone dictating to our politicians, since clearly they won't be dictated to by the Irish people, who they seem to treat like serfs.

The Irish political approach to the same reforms above would be to draw up a long and costly report, which is published the day before a Dail recess and is then forgotten about for a few decades.

Hopefully the era of "Report" culture among the politicians and public sector is over and the day of actually doing something is upon us.

I just hope Cowen doesn't suggest he should stick around to implement the IMF measures. He's clearly clinging to power as it is.
And yet you seem to approve the usurpation of the democratic process... And your comment about serfs is more akin to the IMF.

But hey, they have a direct approach that allows them to "put a gun to the heads of Irish politicians" so it's all good, right?
 


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