Ireland's Negotiating Team

johnfás

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I'm not sure if the details of the negotiating team had been made public before today - I certainly had not heard it before. Eamonn Ryan just made reference to the team on Saturday View. It is a three person team supported by Department of Finance Officials. The members are John Corrigan, CEO of the NTMA; Patrick Honohan, Governor of the Central Bank; Matthew Elderfield, Financial Regulator.

I am sure all decent men in their own field. However, do any of these men have any experience in negotiating a financial settlement?



 


TODevastated

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I'm not sure if the details of the negotiating team had been made public before today - I certainly had not heard it before. Eamonn Ryan just made reference to the team on Saturday View. It is a three person team supported by Department of Finance Officials. The members are John Corrigan, CEO of the NTMA; Patrick Honohan, Governor of the Central Bank; Matthew Elderfield, Financial Regulator.

I am sure all decent men in their own field. However, do any of these men have any experience in negotiating a financial settlement?



no
 

bersouth

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All they are doing is seting up the incoming Goverment to default on payment as we taxpayers canot afford to pay for Bondholder whoes bets lost bigtime, and why SHOULD WE. Enough is enough....
 

Munion

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I thought Cowen's mam would be on the team, you know to keep it in the family like.
 

johnfás

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that actually is more than a tad harsh
Elderfield is a very experienced operator as is Honohan (cant comment on the NTMA guy)
Patrick Honohan is a very experienced academic with an excellent track record. He is indeed the sort of person who the Government should have listened to in regard to policy, but didn't. However, that is not to say that he has any experience as an 'operator' in regard to negotiating a financial settlement.
 

powderfinger

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Honohan is a member of the ECB's Governing Council.
Did Ryan mention who is advising this troika who he claims are a 'negotiating' team?
 

ManOfReason

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I'm SHOCKED :eek: - that Cowan or Lenihan would have told a Green Party TD who was on the negotiating team. Are we sure he was not just guessing?
 

Cailleach

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But can they play hardball??

Patrick Honohan is a very experienced academic with an excellent track record. He is indeed the sort of person who the Government should have listened to in regard to policy, but didn't. However, that is not to say that he has any experience as an 'operator' in regard to negotiating a financial settlement.
Unless they are both instructed to and capable of playing hard hard hardball then we're f**áilte.

Factor in that the information provided as first premise material for assessment/negotiation is coming from DoF incompetents and we are indeed f**áilte.
 

DeGaulle 2.0

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It's actually a relief that it's not FF or the Dept of Finance themselves doing the negotiating.
 

TODevastated

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Patrick Honohan is a very experienced academic with an excellent track record. He is indeed the sort of person who the Government should have listened to in regard to policy, but didn't. However, that is not to say that he has any experience as an 'operator' in regard to negotiating a financial settlement.
true, however i would think that the pool of people capeable of doing the job is quite limited-certainly it is over the heads of our politicians

would any of our businessmen step into the breach perhaps??
 

Northtipp

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I think the ID of that team was out there before now. In respect of Elderfield, remember this. He is the man who led the stress test on our banks not less than 1 year ago and told us they were in good order etc. Now we find out that was not the case. I dont wish to castigate the team without knowing their workings in detail but if they are negotaiting on behalf of me and my children I would like to know their full credentials.
 

johnfás

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true, however i would think that the pool of people capeable of doing the job is quite limited-certainly it is over the heads of our politicians

would any of our businessmen step into the breach perhaps??
We have hundreds of such people. This is part of the nonsense the Government tries to perpetuate - that "nobody else" is qualified to carry out certain duties... except coincidentally their immediate circle of friends and colleagues... who funnily enough seem far less capable than alot of other people who aren't bothered playing the politics you have to in order to get appointed to these roles. My local butcher has more bartering skills than these geezers.
 

Northtipp

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We have hundreds of such people. This is part of the nonsense the Government tries to perpetuate - that "nobody else" is qualified to carry out certain duties... except coincidentally their immediate circle of friends and colleagues... who funnily enough seem far less capable than alot of other people who aren't bothered playing the politics you have to in order to get appointed to these roles. My local butcher has more bartering skills than these geezers.
We as a country should be looking to those with track record of business and/or negotiations. I dislike his interview techniques etc but Michael O'Leary types are what we need. I know it sounds mad but the last major negotiation which we had real brinksmanship involved was the Good Friday agreement. SF came out of that with flying colours. Why not engage some of their people, for example McGuinness or Adams. I would gladly settle for an unlikely fellowship to get us the best results. I dont care what affiliations they have if they will take a brief and do a good job
 

Doodah

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It is good that we have a British citizen and former investment banker with no particular allegiance to this country apart from the fact that his wages are paid here, fighting the fight for Ireland. There is absolutley nothing wrong or odd about that at all and anyone saying or even thinking otherwise must be a xenophobic bigot of the worst order.

After all, this country is so completly incompetent in it's ability to run it's affairs, why not invite the British Treasury in to negotiate on our behalf? They are well capable of apportioning any Irish assets even-handed manner.

And not one Irish politician to be seen?
Cowards all.
 

Nemi_

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I think this thread needs to be linked to another one, where people were hyperventilating over the negotiating team lacking expertise:

http://www.politics.ie/economy/143952-campaign-get-real-experts-negotiate-eu-imf-4.html

The expertise of these gentlemen would look to be sound.

In the other thread the concern seemed to be about a group of typical Irish school teacher/auctioneer/solicitor type Ministers supported by typical Irish 6 As in the leaving followed by a BA in History civil servants.

That seems not to be the situation.

I'd expect those guys do have experience of doing serious business. No-one, apart from Michael Collins, has the experience of leading a team negotiating matters of quite such importance. And Mick, as we know, is long dead.

I commented on the other thread on how we always seem to be seeking some Messiah. I would have expected Ministerial involvement, in addition to people like the Governor of the Central Bank. But this team are as good as any.

The issue, as I think someone has said, is not about negotiating a good interest rate. Its about reducing our need to borrow. Our 'austerity' package is a joke. We're still not biting the bullet. That's the issue, not the skills of our team.

They can't make a silk purse out of a sow's ear. There is simply no reason why anyone would lend us money so we can spend it on stuff that does nothing to increase our ability to repay the loan.
 

powderfinger

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Who would believe a word out of Eamon Ryan's disingenuous mouth?
On Thursday he named Kevin Cardiff,secretary general DoF, as a negotiating team member.
Taoiseach: Cuts won

Green Party minister Eamon Ryan also spoke on behalf of the Government and called for all parties to respect each other’s stance and focus on the issues on the table at the moment.

He asked for media to be responsible in their commentary and understand why the Government could not deliver precise figures on issues which were under negotiating as part of the national bailout.

Mr Ryan accepted people should know who was negotiating with the IMF on Ireland’s behalf. The team, he said, included Department of Finance secretary general, Kevin Cardiff; the head of the NTMA, John Corrigan; the Financial Regulator, Matthew Elderfield, and Central Bank Governor, Professor Patrick Honohan.
 

Squire Allworthy

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It is not an easy job, whoever heads this up needs leverage. It is as much about setting the backdrop for the negotiations.

The government needs to start to prepare for default and be 'quietly' seen to do so. (nothing too obvious) An election would also be useful as it would stall out the decission making process and the uncertainty would do wonders to bonds across Europe. Some gun ho pronouncements during the election would add grist. You need to make the other side think they have more to lose than you if agreement is not reached or that agreement is to mutual benefit, which it is, but some may not realise.


Edit

One other point on negotiations, you need a bottom line you can defend, with solid facts and strong argument, and below which you will not go.

It is not an easy job and whoever does it is putting their head on the block if all goes wrong, or they get torpedoed at home.
 
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