• It has come to our attention that some users may have been "banned" when they tried to change their passwords after the site was hacked due to a glitch in the old vBulletin software. This would have occurred around the end of February and does not apply after the site was converted to Xenforo. If you believe you were affected by this, please contact a staff member or use the Contact us link at the bottom of any forum page.

More Money Sought from IMF.... Why ?


emulator

Well-known member
Joined
Oct 20, 2010
Messages
10,262
Just wondering why the Government has agreed to take more money from the IMF.... almost one billion more? Seems very odd....

Aren't we supposed to be leaving the "Bailout" at the end of this year ? Aren't we supposed to be doing great on "the markets" ?

THE International Monetary Fund (IMF) has praised the Government and said it will lend Ireland a further €970m as part of the bailout plan.
IMF shows its support for Ireland with pledge on bailout - Independent.ie

What are the terms of this extra loan ? If things are going as good as the Government would have us believe, why do we need what is effectively a second "Bailout" ?
 

lying eyes

Well-known member
Joined
Apr 27, 2009
Messages
4,417
Just wondering why the Government has agreed to take more money from the IMF.... almost one billion more? Seems very odd....

Aren't we supposed to be leaving the "Bailout" at the end of this year ? Aren't we supposed to be doing great on "the markets" ?



IMF shows its support for Ireland with pledge on bailout - Independent.ie

What are the terms of this extra loan ? If things are going as good as the Government would have us believe, why do we need what is effectively a second "Bailout" ?
Cause they are telling us porkies a la Pat Rabbite...........
 

off with their heads

Well-known member
Joined
Feb 7, 2011
Messages
7,052
this is the magic money tree fine gael/labour apparatchiks keep telling us does'nt exist
 

wombat

Well-known member
Joined
Jun 16, 2007
Messages
31,946
Its not the end of the year yet, we are still living beyond our means.
 

Didimus

Well-known member
Joined
May 9, 2007
Messages
6,285
Just wondering why the Government has agreed to take more money from the IMF.... almost one billion more? Seems very odd....

Aren't we supposed to be leaving the "Bailout" at the end of this year ? Aren't we supposed to be doing great on "the markets" ?



IMF shows its support for Ireland with pledge on bailout - Independent.ie

What are the terms of this extra loan ? If things are going as good as the Government would have us believe, why do we need what is effectively a second "Bailout" ?
You seem to have missed the " as part of the bailout plan" bit.
We get the money in instalments.
 

emulator

Well-known member
Joined
Oct 20, 2010
Messages
10,262
You seem to have missed the " as part of the bailout plan" bit.
We get the money in instalments.
Indeed we do....

You seem to have missed the "will lend Ireland a further €970m" bit.
 

emulator

Well-known member
Joined
Oct 20, 2010
Messages
10,262
You think that the money is extra to what was agreed in the original bailout?
:)



Well, it is what the article says after all.... I know you're going to say ah sure that's not what it means at all.... but it is.
 

Didimus

Well-known member
Joined
May 9, 2007
Messages
6,285

Mrwoody

Well-known member
Joined
Jan 24, 2011
Messages
1,876
Its the money Ireland needed to bet that the euro will end in two weeks, game changer if it works hears hoping.
 
Last edited:

Porkypie

Well-known member
Joined
Dec 14, 2012
Messages
4,240
Its not the end of the year yet, we are still living beyond our means.
I am not living beyond my means. Our government are about to agree a 20% cut in Cypriots savings so why can we not get the €100,000 earners and depositors with the same amount to wear the green jersey and take a hair cut or is this already on the table.
 

Didimus

Well-known member
Joined
May 9, 2007
Messages
6,285
Given that this thread is based on a mistake I wonder if it should be closed?
On second thoughts as it is quite revealing about the level of knowledge of some of the posters on this site maybe it should be left.
On even further reflection the fact that a poster on this site seems to have thought that they had somehow identified ahead of everybody else that we had gone into a second bailout is worth recording to demonstrate the mixture of arrogance and ignorance that passes for commentary here.
 

davoid

Well-known member
Joined
Feb 16, 2011
Messages
9,711
Just wondering why the Government has agreed to take more money from the IMF.... almost one billion more? Seems very odd....

Aren't we supposed to be leaving the "Bailout" at the end of this year ? Aren't we supposed to be doing great on "the markets" ?



IMF shows its support for Ireland with pledge on bailout - Independent.ie

What are the terms of this extra loan ? If things are going as good as the Government would have us believe, why do we need what is effectively a second "Bailout" ?
I can think of two very good reasons why we should take more bailout money.

First its at the lowest rate of interest available (3% I think).

Second, as long as its bailout money we have some hope that government expenditure will only increase at moderate levels (too much to hope that they may reduce it).
 

SPN

Well-known member
Joined
Feb 2, 2004
Messages
16,866
Just wondering why the Government has agreed to take more money from the IMF.... almost one billion more? Seems very odd....

Aren't we supposed to be leaving the "Bailout" at the end of this year ? Aren't we supposed to be doing great on "the markets" ?



IMF shows its support for Ireland with pledge on bailout - Independent.ie

What are the terms of this extra loan ? If things are going as good as the Government would have us believe, why do we need what is effectively a second "Bailout" ?

The second bailout was the reduction in the interest rate.

The third bailout was the conversion of the promissory notes.

The fourth bailout was the extension of the maturities of the loans from the first bailout.

This would be the fifth bailout.
 

SPN

Well-known member
Joined
Feb 2, 2004
Messages
16,866
I am not living beyond my means.
Delighted to hear it.

Unfortunately the State is. Last year it spent 139% of the tax take. The previous year it was 151%. They have spent 8 years taxes in 5 years.





Our government are about to agree a 20% cut in Cypriots savings so why can we not get the €100,000 earners and depositors with the same amount to wear the green jersey and take a hair cut or is this already on the table.
What would that achieve?

The problem in Ireland is chronic government overspending.

Stealing from citizens' bank accounts is not a solution to that problem.

Cutting expenditure back to match income is.
 

beolight

Well-known member
Joined
Dec 4, 2010
Messages
700
Twitter
Oscarwildefan
this is the magic money tree fine gael/labour apparatchiks keep telling us does'nt exist
Trust me the money tree is real, a seedling was inadvertently discovered in north Dublin years ago by some FF enthuastists. They of course did not know what it was at the time but one of the underlings was blinded by its beauty and took it home with him to cultivate it in his greenhouse. It is only in the past 2 years that the trees true beauty has been revealed

Behold the fabled money tree
@Oscarwildefan: "When I was young I thought that money was the most important thing in life; now that I am old I know that it is." http://t.co/XrcK6KujlD
 
Top