Word 'Bailout' dropped by Irish media

Mondo

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Just checked; RTE, Indo, Irish Times

They all now referring to a 'loan.'

Isn't this the exact same money that up to now was labelled BAILOUT.


Has the word been ban on the word?
 


TradCat

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A loan is a bailout! Free money is technically known as a digout.
 

sport02

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As Jeff Randel last night on sky news told Dick Roche "if it looks like a bailout, smells like a bailout, and costs the same as a bailout, IT IS A BAILOUT"
 

thebig C

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Just checked; RTE, Indo, Irish Times

They all now referring to a 'loan.'

Isn't this the exact same money that up to now was labelled BAILOUT.


Has the word been ban on the word?
The media are just lazily taking the Government line same as they did with "NAMA is the only show in town"..."Get credit flowing"...."Anglo is of systemic importance" etc
 

Anglo Celt

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The lesson of the past few days has been: Stop reading Irish sources for news on whats happening in Ireland.
 

Legacy

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A bailout is an act of loaning or giving capital to an entity (a company, a country, or an individual) that is in danger of failing, in an attempt to save it from bankruptcy, insolvency, or total liquidation and ruin; or to allow a failing entity to fail gracefully without spreading contagion.[1]
Bailout - Wikipedia, the free encyclopedia

In the case of the 'Irish situation' it would be a loan at yet to be agreed interest rates.

Dont like the look of the last sentence above!
 

Chrisco

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It is quite ridiculous: Pat Kenny seemed to imply earlier that a bailout would somehow have been free money given to us by the IMF!

What a fúcking circus.
 
G

Gimpanzee

In modern parlance (since 2008) bailout has come to mean that someone needs outside financial assistance to get out of a hole they dug for themselves.

We're getting a bailout.
 

Asparagus

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It is not a Bailout.

Because a bailout would make sense.


Think of the imagery of a bail out - your boat (Ireland) is almost filled to the point of sinking with water (debt) and the boat can't move with so much water.
Your only option is to remove the water.
A loan equates to moving the water around the boat or temporarily lifting it before dumping it back in with 5% extra.

The problem is that we need a bailout not a bail in.

Debt forgiveness is the way out -

either that or

increase the size of our boat (investment and jobs) or
change boats (leave the euro and walk away from the debt)

One or more of these options are inevitable and just get worse the longer we leave it.
 

cferrie

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I think what they are suggesting is that the money won't actually be handed over now. It's more like an overdraft facility that the government can call on if and when they need it. Having this facility in place should be enough to calm the markets but at the same time the government can say that they haven't actually taken the money.

It's all semantics really but it could be an important distinction.
 

Disillusioned democrat

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So - Cowen was right all along....thank god for that, for a while there I thought we were in trouble.
 

constitutionus

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As Jeff Randel last night on sky news told Dick Roche "if it looks like a bailout, smells like a bailout, and costs the same as a bailout, IT IS A BAILOUT"

please , please , PLEASE can someone have that up on youtube ?

:)

lenny calling it a

"substantial contingency capital fund " !

so it a bailout.
 

sport02

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I think what they are suggesting is that the money won't actually be handed over now. It's more like an overdraft facility that the government can call on if and when they need it. Having this facility in place should be enough to calm the markets but at the same time the government can say that they haven't actually taken the money.

It's all semantics really but it could be an important distinction.

The Greeks got a bailout, and they didn't get all the money upfront.
They are set targets, every three months, and when they pass them, they receive the next installment hence handing over your economic soverignity.
 

sport02

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please , please , PLEASE can someone have that up on youtube ?

:)

lenny calling it a

"substantial contingency capital fund " !

so it a bailout.
It is still up on the business section of the SKY NEWS website.
A minute in to the conversation.
 

Disillusioned democrat

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I think what they are suggesting is that the money won't actually be handed over now. It's more like an overdraft facility that the government can call on if and when they need it. Having this facility in place should be enough to calm the markets but at the same time the government can say that they haven't actually taken the money.

It's all semantics really but it could be an important distinction.
So, it's neither a loan or a bailout - it's an overdraft.

It breaks my heart that some FFers will see this as a victory for FF and a vindication of Cowen's disinformation campaign over the past week.
 

Anglo Celt

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It is still up on the business section of the SKY NEWS website.
A minute in to the conversation.
Brilliant! Our lot look worse by the hour...
 

Vote_No_on_Everything

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Its an old trick being used by different medias & goverments for decades. By changing the packaging people are mislead into thinking there is a new less fradulant product inside.
 

cferrie

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The Greeks got a bailout, and they didn't get all the money upfront.
They are set targets, every three months, and when they pass them, they receive the next installment hence handing over your economic soverignity.
Yes, but if we take the two Brian's at their word (and I know that's a big IF!) the state is fully funded up to the middle of next year. Putting an overdraft-type facility in place should calm the markets and leave us with the option of borrowing from the markets when the time comes instead of availing of the loan/facility/bailout (delete as appropriate).

Whether this means that we have protected our economic sovereignty is a moot point but it certainly saves a bit of face on the government's part.
 


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