IMF Statement on Ireland

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davidcochrane
Press Release: IMF Statement on Ireland

Press Release No. 10/441

November 16, 2010

A spokesperson for the International Monetary Fund (IMF) issued the following statement today on Ireland:

"We welcome the intention of the Irish authorities to implement a decisive multi-year fiscal plan and measures to bolster and strengthen its financial sector.

"At the request of the Irish authorities, an IMF team will participate in a short and focused consultation, together with the European Commission, and the ECB, in order to determine the best way to provide any necessary support to address market risks."
 


bokuden

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The IMF have come.
 

thebig C

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I think the key phrase is:

"At the request of the Irish Authorities..."!!
 

'orebel

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Hello darkness my old friend..........
 

Doodah

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November 16 2010.
Might as well note the date on the Press release.
 

Edo

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the ole FF plan is firming up quiet nicely now

The IMF will be used as cover for the budget until they hightail it out of office leaving FG + whoever to deal with the inevitable "bailout" and its ramifications.

Ya have to admire the tenacity of the feckers - always thinking political even when the country is going down the sh^tter.

the only long term thinking FF ever do is political
 

gijoe

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I doubt if a €6billion budget adjustment will be enough for these guys, €9-10billion will be nearer the mark. The IMF prefers to get the pain done up front without delay. Further PS paycuts, big redundancies and large social welfare cuts are back on the agenda.
 

conservative green

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Encouraging.

I would hope for more involvement from the American controlled IMF and from the UK directly, and less from the EC.. The Americans and British are our friends and allies. Europe is clearly not.
 

conservative green

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I doubt if a €6billion budget adjustment will be enough for these guys, €9-10billion will be nearer the mark. The IMF prefers to get the pain done up front without delay.
You need to see the wood from the trees. The IMF will require much less than Europe as a quid pro quo. We can keep the 12.5% CT rate and tell the Europeans to f.uck off.
 

Ingersoll

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At last - we can get on with things perhaps.
 

johnfás

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I doubt if a €6billion budget adjustment will be enough for these guys, €9-10billion will be nearer the mark. The IMF prefers to get the pain done up front without delay.
And we're going to have to say one word - no. This is a game of chicken between us and the European Central Bank in reality. There is no point us killing our economy by cutting 10 billion in one year and there is equally no point in Europe forcing us to do so as it would damage them in the longrun. We are funded until next year (albeit this is fallaciouis as the money is genuinely finite). However, the ECB need us sorted within weeks because they are worried about contagion. There you go, we should push the ECB to the wire until we get the best deal we can. We're screwed anyway, its a game we can afford to and must play, to a point. The time for being good Europeans and making mates in Brussels is over - this is about protecting Irish jobs and the wellbeing of Irish people. The ECB are going to have to get on and fulfil the role of the ECB - which is to start a programme of quantitative easing, painful though it will be for Germany, it will be cheaper than the alternative.
 


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