Ireland on the brink of bailout as bond markets cease lending - Tribune

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Lead story in today's Sunday Tribune reports an anonymous leading bond expert says the NTMA may as well "pack it's bags" as Ireland won't be able to raise any more money from abroad.

Eamon Quinn writes that "one of them senior market players" declined to be named for fear of dismissal and said Ireland won't be able to sell a single bond next year.

Inside the paper, the Tribune says that the ECB stepped in this week to buy more Irish bonds and now owns 1/5 or all Irish debt. Quinn also reports that Gabriel Stein of Lombard Street Research said Germany's comments about orderly defaults were a "game changer" for Ireland.
 


spotty

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Spotty is shocked by this news. Shocked, he tells you. If the country is about to Collapse, shouldn't the Government resign?

Like the manager of a Premiership Football team that gets relegated?
 

sport02

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Put this news to either of our two Brian's and we will get the usual response "I don't accept that"
 

neiphin

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i dont accept that
we have turned the corner
 

ocoonassa

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Sure we can just use cheese for currency it's grand.
 

MPB

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This story cannot be true. Brian Lenihan says that 6 billion worth of austerity measures will appease the bond markets.

Surely Mr Lenihan could not possibly be wrong?

But if it is right, then surely we have no reason to repay the bondmarkets the money already borrowed.
 

Cael

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Research said Germany's comments about orderly defaults were a "game changer" for Ireland.
Yes, of course, Germany would not have mentioned defaults, unless it had already decided to let them happen.
 

Cael

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Cael

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This story cannot be true. Brian Lenihan says that 6 billion worth of austerity measures will appease the bond markets.

Surely Mr Lenihan could not possibly be wrong?

But if it is right, then surely we have no reason to repay the bondmarkets the money already borrowed.

[ame=http://www.youtube.com/watch?v=TTOZ0diNvZo]YouTube - Funny Chimps[/ame]
 

Gemlarkin

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The bond markets know there is a huge hole in the Banks

This story cannot be true. Brian Lenihan says that 6 billion worth of austerity measures will appease the bond markets.

Surely Mr Lenihan could not possibly be wrong?

But if it is right, then surely we have no reason to repay the bond markets the money already borrowed.
The bond markets know there is a huge hole in the Banks.

Under Fianna Fáil we the people just keep taking on the loses of the banks impelling us to bankruptcy
 
D

Deleted member 17573

This story cannot be true. Brian Lenihan says that 6 billion worth of austerity measures will appease the bond markets.

Surely Mr Lenihan could not possibly be wrong?

But if it is right, then surely we have no reason to repay the bondmarkets the money already borrowed.
But the logic employed in your previous posts was that burning the bondholders would have no adverse effects in terms of future borrowing - now you seem to be changing position and saying we should burn them because they will not lend us any more.
The reality, of course, is that any reluctance on their part to lend to us is based on their fear of a default, the very course of action you have consistently espoused. And don´t come back with your distinction between bank and sovereign bonds - their position is based on fear for the money they lent the banks.
 

Legacy

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Thank God its almost game over now. The tension has been playing havoc with me nerves!
 

Franzoni

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Was reading this a hour ago myself...also a story emerging in one of the other papers that Cowen knew about the problems in Anglo months before the bank guarentee....

This is all going to end very badly for this government and i don't mean just losing an election... i think the cheese thing is indicitive of the contempt they hold the irish public in....

we will see how quick the guards are to baton protesters when there is no wages in the bank for them.....
 

Franzoni

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But the logic employed in your previous posts was that burning the bondholders would have no adverse effects in terms of future borrowing - now you seem to be changing position and saying we should burn them because they will not lend us any more.
The reality, of course, is that any reluctance on their part to lend to us is based on their fear of a default, the very course of action you have consistently espoused. And don´t come back with your distinction between bank and sovereign bonds - their position is based on fear for the money they lent the banks.
It is also based on how mush insurance they are paying on loans to us compared to other countries...it's costing them more to lend to Ireland than to Iraq according the to tribune...
 

MPB

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But the logic employed in your previous posts was that burning the bondholders would have no adverse effects in terms of future borrowing - now you seem to be changing position and saying we should burn them because they will not lend us any more.
The reality, of course, is that any reluctance on their part to lend to us is based on their fear of a default, the very course of action you have consistently espoused. And don´t come back with your distinction between bank and sovereign bonds - their position is based on fear for the money they lent the banks.
Tongue firmly in cheek Sailor boy, tongue firmly in cheek.

This sort of blows the FF mantra that the bondmarkets must be appeased at all costs, out of the water, don,t you think?

Ah well, sure they only had to bankrupt a country to find out something I and others have been telling them for 2 years.
 

sport02

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Said it before, the bond markets will be irrelevant next year barring a miracle, we will need to tap into the european emergency fund at 5%.
Hence slightly off topic, surely FF backbenchers and independents may think twice about voting in the budget as it will do feck all for the bond markets., reducing our rate.
 

MPB

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It is also based on how mush insurance they are paying on loans to us compared to other countries...it's costing them more to lend to Ireland than to Iraq according the to tribune...
Iraq has a proper Govt compared to Ireland.:)
 

Franzoni

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Iraq has a proper Govt compared to Ireland.:)
Touche....:D...i fear if we don't get our act together we will end up like Iraq.......
 

Cael

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Is that the cabinet and their advisors making a submission infront of the EU bailout boards. Let's hope there's some EST involved.

More like Lenihan & Co. dancing for the bond market - but the bond market are getting a bit cheeesed off with chimps...
 


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