Zerohedge - "The Endgame for Ireland is at most, 1 Week Away"

Cassandra Syndrome

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The endgame for Ireland is at most a week away: outcome is simple - bailout or failure. One wonders which the central bankers will pick...

Honohan: IMF Package Would Look Same As Current Policies
Honohan: Irish Bank Borrowing From ECB Exceptionally Large
Honohan: ECB Would Like Irish Banks To Get Back To Self Reliance.
Honohan: ECB Won't Curtail Irish Banks' Access To Financing.
The Irish Bunds spread has now surged to 631, +64 bps on the day!
As ECB, IMF Leave Ireland To Hang, Spreads Surge Again, Pass 630bps, 64 Wider | zero hedge


The wheels have come off the Irish debt juggernaut today. This government is drunk at the wheel, clueless and completely apathetic.

Plan B methinks
 


Franzoni

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IMF..they don't give a toss about corporation tax so we would keep some FDI in the state...

If Merkel has her way we will be nothing better than slaves and very poor ones at that they will demand we surrender our Corpo tax as part of the deal......time for the Germans to get another kicking and put back in their box....
 
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Thankgod ive done my Christmas shopping already!

Im going to enjoy the last Horrah!

Next year those of us who can afford electricity can play this song and remember the good old years!

[ame=http://www.youtube.com/watch?v=e0OH6iSD_fE&feature=&p=1ACDC04354F97BFC&index=0&playnext=1]YouTube - last christmas - wham[/ame]
 

Skrynesaver

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that was supposed to be your Bí Chuin persona, who surely should have been ranting against the EU telling us what to do) not the spotty persona who is so much more personable ;)
 

AirTurbulence

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"Meanwhile, The Washington Post reports that EU economic and monetary affairs commissioner Olli Rehn told a reverentially silent crowd of politicians, business figures and economists in Dublin on Tuesday at the Institute for European Affairs that the EU will help guide Ireland back from its debt crisis and the continent's worst deficit. "

Finfacts Ireland Missing Page

Not "will help" but "will help guide" - doesn't sound like money would be coming our way...
 

hammer

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Maybe the self employed tax returns due & payable by November 15, 2010 will generate many extra billions for the exchequer bearing in mind the fbulous year we had in 2009 :)
 

hmmm

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A week? This is sensationalist nonsense. Our bond yields could go to 20% next week and it wouldn't matter, the NTMA isn't trying to raise money next week or in the immediate future.
 

Black Cat

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Should we take our money out of the credit union?(they keep their customers deposits in a bank - don't know which one) I am going to stock up on cat food.
 

GDPR

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A week? This is sensationalist nonsense. Our bond yields could go to 20% next week and it wouldn't matter, the NTMA isn't trying to raise money next week or in the immediate future.
For that to matter Mr. Zero would have to know his arse from his elbow.
 

sport02

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A week? This is sensationalist nonsense. Our bond yields could go to 20% next week and it wouldn't matter, the NTMA isn't trying to raise money next week or in the immediate future.
It is much bigger than that, if our bond rate keeps going north, and we don't have a rescue plan, it starts to interfere with Europe, the euro currency and confidence, Sarkosy and Merkel, aren't thinking, sure the Irish have another 3 months before they go to the bond market.
We are holding europe back, CNBC spoke to the American analysist on the NYSE, and he said Ireland is causing problems for europe.
 

hmmm

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It is much bigger than that, if our bond rate keeps going north, and we don't have a rescue plan, it starts to interfere with Europe, the euro currency and confidence, Sarkosy and Merkel, aren't thinking, sure the Irish have another 3 months before they go to the bond market.
We are holding europe back, CNBC spoke to the American analysist on the NYSE, and he said Ireland is causing problems for europe.
The American analyst? Wow I didn't know that.

If we're causing problems for Europe we'll happily accept a cheap bailout. Otherwise we'll sit here on our pile of cash for a little while and see how things play out.
 

dubboy

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It is much bigger than that, if our bond rate keeps going north, and we don't have a rescue plan, it starts to interfere with Europe, the euro currency and confidence, Sarkosy and Merkel, aren't thinking, sure the Irish have another 3 months before they go to the bond market.
We are holding europe back, CNBC spoke to the American analysist on the NYSE, and he said Ireland is causing problems for europe.
Germany/France would love the euro to get weaker, they spent the first 4 months of this year pissing around on the greece situation, and talking down the euro any opportunity they got, they will do the same now. Zerohedge really has so little credibility, everything is a scandal/sensationalist/conspiracy, it's not worth reading. FT alphaville is very bearish but at least all their points are backed up with logical arguments.
 

Cassandra Syndrome

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While the rest of the world wakes up to the fact that we are 2 x Lehmans Bros in contagion magnitude.
 

danger here

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cedissapointed

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"Those fighting for free enterprise do not defend the rich of today.They want a free hand left to unknowns who will be the entrepreneurs of tomorrow"-Mises''


Very true,companies today are more about faceless nameless individuals and escaping blame,which is what the idea of a company was all about in the industrial revolution,a company by definition even up to recently was defined as an entitiy with no individual identity,so a lot of these people running companies escaped prosecution when they had wronged an individual or a whole country of individulas.The law supported them up to recently,but they are finding other ways to get around this,for one example, i sent an email to a company (who i shall not name),they person who sent the email back(after getting about 4 automated emails back),did not give thier name and just signed it G1HB.Thats our rights right there.
 

Dreaded_Estate

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A week? This is sensationalist nonsense. Our bond yields could go to 20% next week and it wouldn't matter, the NTMA isn't trying to raise money next week or in the immediate future.
And what do you think will turn up in the interim that will change the markets mind that default is all but inevitable?

10 year rates are implying close to 70% chance of default.
 

hmmm

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And what do you think will turn up in the interim that will change the markets mind that default is all but inevitable?

10 year rates are implying close to 70% chance of default.
Fair enough but I'm not arguing a point about the ultimate endgame, I'm arguing the point about it being one week away and us all having to run around with our hair on fire.
 


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