Lenihan statement: EU partners have full confidence in the Gov budgetary strategy

Joined
Feb 21, 2003
Messages
4,249
Website
www.politics.ie
Twitter
davidcochrane
This statement has just been issued by the Department of Finance...

Minister for Finance comments on the statement by the Finance Ministers of France, Germany, Italy, Spain and the UK

In response to the above statement the Minister for Finance said:

“I welcome the solidarity shown by our EU partners and the G20 with Ireland.

The clarity provided by the EU Finance Ministers of the G20 is most welcome. The Statement makes it clear that any potential private sector involvement in that mechanism does not apply to any outstanding debt and any programme under current instruments. Any new mechanism would only come into effect after mid-2013. So this would have no impact whatsoever on the current arrangements.

Our EU Partners have confirmed their full confidence in the budgetary strategy being pursued by the Government.”
 


HarshBuzz

Well-known member
Joined
Feb 28, 2008
Messages
11,815
any else reminded of the infamous 'vote of confidence' in the manager by directors of struggling football clubs?

I know I am
 

Holy Cow

Well-known member
Joined
Oct 8, 2010
Messages
2,085
So this means Cowens comments in this mornings Indo are now null and void? Ireland is now going to default and make the bond holders take a hit?
 

Speedfreak

Well-known member
Joined
Dec 4, 2008
Messages
1,635
Hat tip to the Property Pin's 'What goes up' user...

 

Holy Cow

Well-known member
Joined
Oct 8, 2010
Messages
2,085

Clanrickard

Well-known member
Joined
Apr 25, 2008
Messages
33,153

A view from England

Well-known member
Joined
Apr 14, 2010
Messages
2,056

Holy Cow

Well-known member
Joined
Oct 8, 2010
Messages
2,085
Merkel said it would be bonds issued from 2013, not the Debt we have out now.
Yes, and by then all the Irish debts will be on the taxpayers shoulder.
 

Dreaded_Estate

Well-known member
Joined
Sep 5, 2007
Messages
3,718
Just rumours but I wonder how it ties in with this from Irisheconomy.ie

Bond. Eoin Bond Says:

November 12th, 2010 at 10:40 amBailout this weekend (80bn 3-4yrs), involving EU AND UK, rumour but strong one (and i know but wont say who’s putting it out - ‘good’ bank you generally wont hear trying to spook the markets). Yields coming a lot lower, CDS in by 70bps….
 

HarshBuzz

Well-known member
Joined
Feb 28, 2008
Messages
11,815
parse that statement carefully and note the total absence of any reference to a bailout

the boys up on Merrion Street are very busy right now agreeing the T&C
 

MPB

Well-known member
Joined
Nov 27, 2009
Messages
4,455
If this is true we have just accepted the responsibility for every mistake FF and Private investors in Private Banks have made before and after Sept 2008.

There had better be a mechanism to default entirely on all ECB funds given to Banks in this deal or we have just signed our own death warrant.
 

Holy Cow

Well-known member
Joined
Oct 8, 2010
Messages
2,085
the boys up on Merrion Street are very busy right now agreeing the T&C
Do you think that lot are capable of agreeing how many sugars to put in a coffee?

They will be told the terms.
 

LDF

Well-known member
Joined
May 28, 2007
Messages
4,157
Just rumours but I wonder how it ties in with this from Irisheconomy.ie

Bond. Eoin Bond Says:

November 12th, 2010 at 10:40 amBailout this weekend (80bn 3-4yrs), involving EU AND UK, rumour but strong one (and i know but wont say who’s putting it out - ‘good’ bank you generally wont hear trying to spook the markets). Yields coming a lot lower, CDS in by 70bps….
That's just great. Will Biffo make it to the GPO to retract the Proclamation?
 

HarshBuzz

Well-known member
Joined
Feb 28, 2008
Messages
11,815
That's just great. Will Biffo make it to the GPO to retract the Proclamation?
it's an interesting one

which historical leader could Biffo be compared with? Who has actually handed their country over to a foreign power (without shots being fired)?

Benes would seem to fit the bill
 

Holy Cow

Well-known member
Joined
Oct 8, 2010
Messages
2,085
Will Biffo make it to the GPO to retract the Proclamation?
Staying out of Mountjoy is his main concern.
 


New Threads

Most Replies

Top