'Irish Bailout Underway' Claims Fine Gael

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<H2>The Irish opposition's finance spokesman says he believes European intervention is "underway" and that matter will "come to a head in 24 hours".
Michael Noonan, of the centre-right Fine Gael party, said he was "extremely concerned" that weekend rumours about a £67bn European Unionbailout were true.
His comments come after justice minister Dermot Ahern labelled the allegations as "fiction", saying no application had been made to Europe for assistance
</H2>
http://news.sky.com/skynews/Home/Business/Ireland-Opposition-Spokesman-Believes-EU-Bailout-Is-Underway-And-Will-Be-Announced-In-24-Hours/Article/201011315808666?lpos=Business_First_Buisness_Article_Teaser_Region_1&lid=ARTICLE_15808666_Ireland_Opposition_Spokesman_Believes_EU_Bailout_Is_Underway_And_Will_Be_Announced_In_24_Hours

Apologies if there is a thread already on this.

Being discussed on CNBC.
 


sport02

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Well our rates are 8.13% today, and we can't wait to the last minute, as the bondmarkets will have our hands tied, I would say Noonan could be calling it right.
Plus Spain and Portugal have not suspended going to the markets at the moment like us.
 

corelli

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One presumes he knows, or has a sense, of the pressure Lenihan is going to come under tomorrow at the Finance Ministers meeting. I think he is probably right.
 

hammer

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I hope they dont negotiate the writing of the cheque with Padraig Flynn.

Just leave it on the desk, and I`ll fill it out later :) :)
 

Social Conscience

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The opposition want this to happen before any budget/GE and who could blame them. The vulchers are circling.
 

just_society3

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Have FG an inside track based on their membership of the EPP? I think Merkel (and many other EU statesmen) will be only too glad to stick the boot into FF.
 

robut

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Our situation has now ramped up / stakes well up - with the Portuguese Finance Minister saying:

"Portugal says it's at HIGH RISK of needing a bailout"

Whos going to get there first?

Robut
 

sport02

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Bloomberg reporting on their channel, that a German goverment source saying the German goverment pressing the Irish goverment to accept aid package before tomorrows meeting with european finance ministers.
 

Goodbody

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Our situation has now ramped up / stakes well up - with the Portuguese Finance Minister saying:

"Portugal says it's at HIGH RISK of needing a bailout"

Whos going to get there first?

Robut
Yep, it's like a sovereign default X-Factor. Who will go first? Wagner or Mary? Portugal or Ireland?
 

adrem

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Well our rates are 8.13% today, and we can't wait to the last minute, as the bondmarkets will have our hands tied, I would say Noonan could be calling it right.
Plus Spain and Portugal have not suspended going to the markets at the moment like us.

I assume you know that Spain and Portugal haven't suspended going to the markets because they can't !! They need the money and haven't pre-funded like we did.

I'd need to see the quotation but if it's as quoted then its a bit daft by Noonan.

I note a European portfolio manager with Blackrock (the fund manager) commented today that the Irish crisis was overstated and that the ones with the problem are Portugal. He also reckoned there was a very low probability of default by Ireland.

Irish crisis is overstated and Portugal is worse, says leading BlackRock manager - Citywire
 

smore2102

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There is no transparency in this government, we would at least know where we stood if they only told the truth once in a while. Shower of numbskulls.

And Goodbody, I'm disgusted with the X Factor after last night. So I hope Wagner wins.
 

sport02

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I assume you know that Spain and Portugal haven't suspended going to the markets because they can't !! They need the money and haven't pre-funded like we did.

I'd need to see the quotation but if it's as quoted then its a bit daft by Noonan.

I note a European portfolio manager with Blackrock (the fund manager) commented today that the Irish crisis was overstated and that the ones with the problem are Portugal. He also reckoned there was a very low probability of default by Ireland.

Irish crisis is overstated and Portugal is worse, says leading BlackRock manager - Citywire


My whole point regarding Spain and Portugal was, as they are not pre-funded like us, they have to go to the markets, and with the Irish problem, we are causing their interest rates to go up, therefore we are indirectly a problem for other peripheral countries, hence urgent action needs to be taken soon with Ireland.
 

rockofcashel

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Could be worse I suppose.. Dick Roche was on Nestalk this morning claiming "crisis, what crisis"... Let's be honest, the only reason FF want to delay the going into any aid package, is that they want FG/Lab in power next year when they would be the ones to have to do it, allowing FF to claim everything was their (FG/Lab's) fault.

I'd say FF are fit to be tied over winning the election in 2007. If FG/Lab were in power right now, FF would absolutely go for the jugular, and ensure they were in majority power for the next 50 years
 

budgie29

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Have FG an inside track based on their membership of the EPP? I think Merkel (and many other EU statesmen) will be only too glad to stick the boot into FF.

Cowen is seen as a buffoon now in Europe. Seems hes the last one in the country to know the IMF are on the way in.
 

meriwether

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Could be worse I suppose.. Dick Roche was on Nestalk this morning claiming "crisis, what crisis"... Let's be honest, the only reason FF want to delay the going into any aid package, is that they want FG/Lab in power next year when they would be the ones to have to do it, allowing FF to claim everything was their (FG/Lab's) fault.

I'd say FF are fit to be tied over winning the election in 2007. If FG/Lab were in power right now, FF would absolutely go for the jugular, and ensure they were in majority power for the next 50 years
Can you imagine the bellowing Cowen would be at at Kenny if he was in opposition?
 


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