Lenihan & Cowen incapable of negotiating low interest on EU rescue funds

patslatt

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L & C are imbued with a civil service mentality that is prepared to screw the private sector with taxes to preserve public sector pay and gold plated pensions for the high paid and is too deferential to the EU. This is clear from the the failure a)to cut to realistic levels the pay of top civil servants and politicians (Cowen still makes more than Obama!)which are still ridiculous despite cuts and b)to consolidate the hundreds of "jobs for the boys" quangos in the four year plan.

How can we trust them to negotiate a reasonable rate of interest on bailout funds? Better to have a traditional village cattle dealer or a ruthless independent TD like Healey Rae in charge of negotiations than the establishment L & C partnership. We might have a chance of both economic growth and repaying the colossal debt if the interest were negiotiated to 2%,instead of the rumoured 5%.The fate of the euro could depend on a successful negotiation with Ireland as an Irish default could amplify trends to sovereign bond contagion,so we are not without bargaining power.

Of course,Greece would immediately insist on a reduction to 2% if we got that, maybe a good thing.

Hopefully,the EU should realise the key to resolving the crisis is not punishment with high interest rates to discourage others but to root out perverse cronyism in both the private and public sectors as well as corrupt versions of socialism endemic across the Eu.
 
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FakeViking

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+1,000. These hopeless gombeens couldn't negotiate their way out of a paper bag. But they'll be great at spinning the result as the "best available" for domestic consumption.
 

HarshBuzz

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'a low rate' was never an option given the structuring of the EFSF
 

Northtipp

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Negotiations? What negotiations. They will be told what they are getting and thats it. eg, reduction of minimum wage. This is what happens when you play with the big boys.
 

He3

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Negotiations? What negotiations. They will be told what they are getting and thats it. eg, reduction of minimum wage. This is what happens when you play with the big boys.
Senior Curling.
 

FakeViking

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When will we know how many million the various acrynomns (PwC, KPMG, etc etc) are getting paid for their worthess advice that the gombeens will ignore during these 'negotiations'?
 

bazlad

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Never mind a low rate, they could have insisted that the ECB take ownership of Anglo and AIB.

I healthy fear of economic doom would have won the argument.
Yes, this option seems the most practical.
The ECB see a risk to the EURO, yet want us to take absorb the risk for them.
Surely they are better to do that?
 

Kevin Doyle

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L & C are imbued with a civil service mentality that is prepared to screw the private sector with taxes to preserve public sector pay and gold plated pensions for the high paid and is too deferential to the EU.
Jesus man. will you give it a rest. The reason the interest rate is so high has nothing to do with public sector pay rates or pensions, for those with the mental faculties of a goldfish, Lenny has just cut PS pensions, he has also cut numbers and introduced a stealth pay cut of 5 %. Yes the PS is really feeling the love.

Pat, you need help, seriously, this obsession and unhinged hatred of the Public Sector became pathological a long time ago. I'm actually worried about you.
 

MPB

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I have said it before and I will say it again.

Objectivity.

You cannot expect the same people who got us into the mess to get us out.

Too much self preservation and attempted cover up and not enough honesty.

2 years on and we are still letting them negotiate our futures. We will get exactly what we deserve.
 

bruce999

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Jesus man. will you give it a rest. The reason the interest rate is so high has nothing to do with public sector pay rates or pensions, for those with the mental faculties of a goldfish, Lenny has just cut PS pensions, he has also cut numbers and introduced a stealth pay cut of 5 %. Yes the PS is really feeling the love.

Pat, you need help, seriously, this obsession and unhinged hatred of the Public Sector became pathological a long time ago. I'm actually worried about you.
And I am worry about you:) Dear Kevin, State pensions i.e. for teachers will have to be radically cut. As such there WILL have to be a radical overhaul of the Irish economy and it will affect 90% of the Irish population.
 

culmore

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If you were a money lender, would you give money to them two fools, not me at any interest rate, their track record is so bad
 

bruce999

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But did not Peter Sutherland say Lenihan could be one of the greatest Taoiseach's Ireland ever had?:))))))
 

MPB

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But did not Peter Sutherland say Lenihan could be one of the greatest Taoiseach's Ireland ever had?:))))))
If I was a citizen of Goldman Sachs, I would say the same about the capabilities of a future Prime Minister in a foreign country I wanted to invade.
 


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