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Active member
Feb 7, 2009
An interesting article in todays FT................the author presents 3 scenarios, 2 of which involve an Irish default resulting from a run on the banks.

Batt O Keefe was just on Prime Time and he interrupted MOC's closing remarks to make comments about the safety of deposits in Ireland's banks.

This was completely off topic and surely an indication of his concern.......just a matter of time then?

Would default be a better option?

The Irish rescue package fails to restore confidence, and its banks haemorrhage deposits. Contagion spreads to other countries, blowing out risk premiums on Portuguese, Spanish and Italian sovereign debt to untenable levels. With Greece struggling to meet its tough IMF conditions, it becomes clear that the peripheral countries are deep in trouble.

The eurozone and IMF try to cobble together a rescue package for Portugal, but rising public discontent in Germany brings negotiations to a halt. Finally, Angela Merkel announces Berlin cannot support any more bail-outs without imposing debt restructuring on bondholders of both banks and sovereigns.
FT.com / Europe - The end is nigh


Well-known member
Nov 20, 2010
Don't worry,

The Unions are organising a march on the matter and will look for wage increases for all to solve the matter.

Please try and ignore the self interest in them now complaining about cuts when things are not so rosy.

Oh that's right, wasn't nearly all social and governemnt policy formed by governemnt to please them as a bloc over the last 25 years or so. Keep that quiet too.

Annraoi Blaney

Active member
Nov 8, 2010
Sovereign debt €110Billion,
+ €23 Billion in bonds
+ €33Billion more for the banks poss 35 B
+ €45 Billion soverign debt to run country
+ €130 Billion liquidity short term

GRAND TOTAL= €343 Billion

@5%=15 billion a year..if we’re lucky! or could be 7%

Ireland is bust we need to default we cannot pay this debt .We need to sit down and do a deal tell EU we cannot pay you what you want it is impossible. It is impossible Ireland can pay this !!!
You cant give what you dont have!!!!!!!!!!

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