Word 'Bailout' dropped by Irish media

robut

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BAILOUT to LOAN to Substantial Contingency Capital Fund .. Whats next?

So the bailout is now to be called a Substantial Contingency Capital Fund. This from Mr Lenihan in the dail in the last few hours.

On newstalk at 12 both Oliver Gilvarry and Brian Lucey were on discussing this new "brand name" for our bailout. Mr Gilvarry mentioned the word COCOA Funds. It seems the word COCOA is tied to this Substantial Contingency Capital Fund scheme being hatched.

Maybe some economist guru folk here could explain in DUMMIES GUIDE_EEEZ what this Cocoa (hedge) fund idea is and how it applies to what we used to call A BAILOUT?

Mr Gilvarry and Dick Roche elsewhere eluded to the possibility that whatever scheme arises out of "When the IMF came to town" - it will be used as a template for other Eurozone countries in a similar position - Spain, Portugal anyone. IRELAND = GUINEAPIG?

Robut
 


Mondo

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They can't legally give it directly to the banks, much as the government would prefer that.
The brave patriotic souls. They would prefer not to do it to us, but they are going to screw us anyway.

Great. Well just plough ahead, take it on as sovereign debt, bung the cash to 'yer' banks.

Tell the people they are too thick to understand it all and let them be damned.

Oh and most importantly. Make sure people earning less than €100k (ie. people not really mixing in their circles) pay for the lions share.

The republican party. To hell with yee.
 
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bayern

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FF head office obviously has contacted Sir Anto O Reilly to spin a few untruths. Sunday Indo should be interesting this weekend, wonder if the Sindo hacks be still supporting the sinking ship known as Fianna Fail.
 

SlickWilly

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It is of course a bailout, ultimately though for the Kraut banks and economy, when you think about it. If we go, then Potugal, next Spain and then Italy where does that leave the Fatherland and the European project? So why not have a cunning plan to get fools like the paddys to pay to ultimately bail the Krauts out?
 

Hogwash

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Shocking stuff. Another massive addition of billions of euro to the national debt of Ireland, bunged to the Irish banks to repay the European banks who lent them the money to fuel the property boom. All to be paid back by the Irish taxpayer for the next 100 years, who struggle on with their own debt hangover.
It's actually a bailout that we need and debt restructuring - not more loans. Just sickening stuff.
 

Mondo

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Germany and the big boys will remember the pitiful Gombeen attempts at blackmail and hardball.

They will remember. And they will get even.

FF will be on then golf course by then.

Only people on less than €100k will be feeling real pain. And FF don't know any of those serfs on a first name basis.
 

Odyessus

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We have not actually been offered or accepted any deal so far, so it is a bit early to characterise it. The informed speculation at the moment seems to be that what will be on offer will be a contingency fund which we can access if and when necessary, with more or less strings attached. The nature of these strings will presumably determine the government's decision on whether or not it is an acceptable deal.



The pejorative word for such an arrangement is "bailout", which will be used by the government's critics, the euphemistic way of describing it might be "accessing the stabilisation facility" or "overdraft", which will be used by government supporters.

The plain English neutral word to describe any such deal is "loan".
 

sport02

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We have not actually been offered or accepted any deal so far, so it is a bit early to characterise it. The informed speculation at the moment seems to be that what will be on offer will be a contingency fund which we can access if and when necessary, with more or less strings attached. The nature of these strings will presumably determine the government's decision on whether or not it is an acceptable deal.



The pejorative word for such an arrangement is "bailout", which will be used by the government's critics, the euphemistic way of describing it might be "accessing the stabilisation facility" or "overdraft", which will be used by government supporters.

The plain English neutral word to describe any such deal is "loan".

It is not a loan, not all loans are necessities, I might borrow an extra few quid to buy a fancier car, might get a loan to buy a plasma T.V, don't nescessary need the loans, are BLOODY CRIPPLED COUNTRY IS ON ITS KNESS, IT IS A BAILOUT, WE ARE GETTING.
 

Odyessus

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It is not a loan, not all loans are necessities, I might borrow an extra few quid to buy a fancier car, might get a loan to buy a plasma T.V, don't nescessary need the loans, are BLOODY CRIPPLED COUNTRY IS ON ITS KNESS, IT IS A BAILOUT, WE ARE GETTING.

The Oxford English Dictionary does not share your opinion.

Loan n. A thing that is borrowed, especially a sum of money that is expected to be paid back with interest.
 

greengoose2

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The Oxford English Dictionary does not share your opinion.
According to Webster:

Definition of BAILOUT

: a rescue from financial distress
As the other poster stated; we are broke and we are looking for a BAILOUT. We will get it, call it something else and still pay it back with interest if we can. Otherwise there will be another endgame.

Oh, just to be clear - the Oxford English Dictionary does not have opinions (you could look that word up while you are at it).
 

Newsy

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Check out the Irish Examiner.

They tell it, as it is.
 

greengoose2

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Check out the Irish Examiner.

They tell it, as it is.
Irish Examiner

BRIAN LENIHAN last night admitted Ireland would need an EU-IMF bailout after the Government spent the best part of a week firmly downplaying the possibility.
Prof Honohan told RTÉ Radio yesterday morning he "absolutely" expected that the EU and IMF would provide a "very substantial" loan to Ireland that would run into tens of billions of euro.

He said the loan would likely be provided in the shape of a contingency fund which could be called upon if the banks required more capital.
So now we can say that it will be a LOAN (in the shape of...). It is still a loan and will have to be paid back with interest!
 

Paul Carr

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Mondo said:
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?
It's a LOAN!! Now back to the pressing issues at hand, people of Ireland! Tubridy's sweaters and the British Royal wedding next year.
 

Paul Carr

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Anglo Celt said:
The lesson of the past few days has been: Stop reading Irish sources for news on whats happening in Ireland.
No, read it. Just read other sources as well. I'm in Shanghai. I found this cool program on the Application Store for my ITouch called PressReader. I can read the Irish Times every day with that. Sign up for a twitter feed. Plenty of objective commentary on the Irish Financial Crisis there from renowned scholars as well as the man and woman on the street.
 


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