Irish bail-out in one week

zeleneye

Well-known member
Joined
Nov 13, 2008
Messages
529
"The Bulgarian deputy prime minister, who is also the country's finance minister, appears to have let the cat out of the bag on the date of an Irish bailout, telling Bulgarian reporters on Wednesday (17 November) that despite Irish insistence to the contrary, he expects a package will be cobbled together some time next week."

EUobserver / Ireland bail-out in one week, Bulgarian deputy PM says
 


zeleneye

Well-known member
Joined
Nov 13, 2008
Messages
529
He appears to have missed the first lesson in PR as a finance minister but it just confirms what everyone knows in any case. ECB wants us to access the EFSF asap, so it is not alone in carrying the can. Asap presumably needs a few days to work out the fine print.
 

sport02

Well-known member
Joined
Sep 25, 2010
Messages
19,548
I think Wednesday of next week is perfect for the announcement, taking into account the people of Donegal voting the next day.
 

Ulster-Lad

Well-known member
Joined
Oct 26, 2006
Messages
9,989
DUBLIN—Ireland is dragging its feet on a European Union bailout to secure the best terms for a deal and safeguard its low 12.5% corporation tax, observers say, but the country's embattled government also wants to limit political damage at home before a looming by-election on Nov. 25 and its 2011 budget due Dec. 7.
Ireland Delays on Bailout for Political Ends - WSJ.com

The WSJ suggests the delay is for political reasons. The article is a good read overall.
 

True Republican

Well-known member
Joined
Apr 3, 2008
Messages
4,049
But you don't know we don't need a bailout. Everything is fine according to Biffo and Lenihan...lol

Its all scaremongering ye know, FF always tell the truth...lol
 

tempest

Well-known member
Joined
Nov 9, 2007
Messages
346
Editor of Business & Finance Magazine seems to have a good source:

"all will be revealed in the very near term. cowen told by eu official bond markets don't lie. ire shut out for foreseeable future."

"info in last number of tweets courtesy of source close to what is happening on the ground"

"bailout money will be thrown into banks to get them sufficiently capitalised. that doesn't mean they will start lending."

"the option of ECB providing a long term liquidity backstop for irish banks was ruled out by merkel as politically unacceptable."

"12.5% cor tax rate is likely to stay on the basis that EU does not want to be seen to be prescriptive given other states will need bail out"

"corporate debt markets are at lowest level of issuance in 15 years on the back of irish crisis. no choice but to accept bailout"

"the visit by IMF/EU/ECB officials was organised last week ie tues 9th nov"

More:

John Walsh (JohnWalsh09) on Twitter
 

True Republican

Well-known member
Joined
Apr 3, 2008
Messages
4,049
Editor of Business & Finance Magazine seems to have a good source:

"all will be revealed in the very near term. cowen told by eu official bond markets don't lie. ire shut out for foreseeable future."

"info in last number of tweets courtesy of source close to what is happening on the ground"

"bailout money will be thrown into banks to get them sufficiently capitalised. that doesn't mean they will start lending."

"the option of ECB providing a long term liquidity backstop for irish banks was ruled out by merkel as politically unacceptable."

"12.5% cor tax rate is likely to stay on the basis that EU does not want to be seen to be prescriptive given other states will need bail out"

"corporate debt markets are at lowest level of issuance in 15 years on the back of irish crisis. no choice but to accept bailout"

"the visit by IMF/EU/ECB officials was organised last week ie tues 9th nov"

More:

John Walsh (JohnWalsh09) on Twitter
I'm glad I have a full bottle of vodka at home when its publicly announced. Will Biffo be getting hammered I wonder...lol
 

st333ve

Well-known member
Joined
Jul 18, 2006
Messages
2,101
Am I correct in saying that a bail out would initially bring the Euro down a peg, but long term the economic boost would help it stabilise?

The UK claim to be offering Ireland money, they obviously know that this would make the Irish people more reluctant to take a bail out.

Sterling must remain as competitive with the Euro as possible, a bail out would hamper the UK's interests long term if it helped stabilise the Euro zone.

Then again it's also in their interests to have a successful Euro zone.
It's a very complicated game this, there's so many ways to look at it.

I would love to hear what's going on in Leinster House, maybe you could hear the shouting and screaming from the street outside?

Fianna Fail really need to sort something out, and bring some sort of silver lining and hope for stability - all without accepting a bail out.
If they manage this impossible task they may survive as a smaller party, however I believe it's going to get very messy for them and the damage could last a generation.
What are they polling now anyway?

BTW, was in Dublin last weekend.
Place was absolutely buzzing, couldn't move even on Sunday.
Behind the headlines in the real world on the streets it still looks like the Republic is doing a lot better than the ghost town up here.
 


New Threads

Most Replies

Top