The Increasingly Depressing Financial Crisis Thread

Aoibheann

Noel2k9 wrote: »

Student support bill?

Think this contains a lot of the relevant information. It's been at committee stage since last year and I hear there's a chance (though they said that before too) that it could be pushed through this year.

Basically a large part of it involves streaming the grants process. They want to cut the number of grant schemes from 4 to one, thusconsolidate the huge number of awarding bodies into a lot less, and anything else that can speed up the bit where students actually get the payment!

amacachi

almostnever wrote: »

Because one person processes the Louth applications from 9am-11am daily. There's the definition of ridiculous right there...

Nah there's a few, each with a different job waiting for another person to do their bit first. Remember I still haven't registered thanks to Louth CoCo's incompetence, which may well come back to bite me in the arse.

QueenOfLeon

kateos2 wrote: »

Noel: It varies from council to council. I got mine in November last year, while my friend didn't get confirmation she was receiving the grant until she was finished college for the summer. That was within one county council, so over them all it's ridiculous how much the difference is.

Did she get the cheque then? In May? :eek:

Pigwidgeon

QueenOfLeon wrote: »

Did she get the cheque then? In May? :eek:

Yeah, she got all three, and the refund for her reg fee. It's ridiculous.

Duffy the Vampire Slayer

If my grant is late after christmas I'm fairly screwed.

kev9100

https://www.youtube.com/watch?v=zqx4E5tq1Bo

Pure awesomeness.

Duffy the Vampire Slayer

A'boy Pat. Shame hes not leader of the Labour Party anymore.

Grindylow

Namlub wrote: »

What happened?


Weekend went ridiculously quickly

Did you not see Brian Cowen's speech?

They asked the IMF to help bail us out of the 'crisis'.

Midnight_EG

Noel2k9 wrote: »

Did you not see Brian Cowen's speech?

They asked the IMF to help bail us out of the 'crisis'.

That's been known about for a few days now?

Grindylow

Midnight_EG wrote: »

That's been known about for a few days now?

No it hasn't.

The IMF were in the country but the gov. had been saying that they weren't going to agree on a settlement with them.

kev9100

Thanks to Cowen and the boys, we are in some very significant ****. In the next two years, poverty, emigration and unemployment are gonna skyrocket.

Midnight_EG

Noel2k9 wrote: »

No it hasn't.

The IMF were in the country but the gov. had been saying that they weren't going to agree on a settlement with them.

Really?

Slow Show

This IMF stuff is scary. I just wish I was old enough to actually get out of here...the budget is gonna be terrifying.

Grindylow

Midnight_EG wrote: »

Really?

"Up to a dozen IMF experts will open talks with the Government and the Central Bank in Dublin, promising that a bailout will not ignore the impact of savage cuts on the less well off."

Yes, really.

Midnight_EG

Noel2k9 wrote: »

"Up to a dozen IMF experts will open talks with the Government and the Central Bank in Dublin, promising that a bailout will not ignore the impact of savage cuts on the less well off."

Yes, really.

Selective quoting it is then...

IMF ARTICLE:
After that it’s expected a rescue deal, worth several billion euro, will be agreed.

Duffy the Vampire Slayer

Why are the government coming up with a 4 year plan? They wont be in power another 6 months.

Fago!

What happened with the IMF thingy? Can someone summarise it for me without saying "we're fuucked"??

Grindylow

Midnight_EG wrote: »

Selective quoting it is then...

"Expected".

Fago! wrote: »

What happened with the IMF thingy? Can someone summarise it for me without saying "we're fuucked"??

The IMF will lend Ireland money..
Ireland will have to pay back this money, but it won't happen for ages- so we'll be the ones affected by it.

Namlub

Fago! wrote: »

What happened with the IMF thingy? Can someone summarise it for me without saying "we're fuucked"??

I looked on the RTE website and it says income tax 'is being returned to 2006 levels.' I mean yeah, don't bother saying what they were or anything...

Fago!

Noel2k9 wrote: »

The IMF will lend Ireland money..
Ireland will have to pay back this money, but it won't happen for ages- so we'll be the ones affected by it.

Namlub wrote: »

I looked on the RTE website and it says income tax 'is being returned to 2006 levels.' I mean yeah, don't bother saying what they were or anything...

Ah nice one.

so is the tax thing good or bad?

Also, I like the fact that auser called "I have questions" thanked my post asking questions haha

Grindylow

Fago! wrote: »

Ah nice one.

so is the tax thing good or bad?

Bad! It means an increase in tax, reducing peoples spending powers! However it could balance it out and inflation levels may fall, but it's doubtful!

jumpguy

Arra, tax means you have less money.

Sure we like our bit of money.

But sure we'll get on graaaand...

kev9100

Fago! wrote: »

What happened with the IMF thingy? Can someone summarise it for me without saying "we're fuucked"??

Essentially, the government needs money to run the country and in May, they will run out. Unfortunately, we can no longer borrow this money as the market no longer blieves we can pay this money back because they are afraid the banks will collapse. Thus, the IMF is going to lend us money so we don't have to go the market for another three years. Unfortunately, if we accept said loan the IMF will lay down some extremely stringent rules that will cause a lot of misery.

In a word, we have now lost the control of our own fiscal future as a country and now rely the kindness or otherwise of others.


At least I think thats it:).

Slow Show

'Tis tough, 'tis tough...
But that's the way it is.
Fun times lads. :cool:

soccymonster

Xx_emma_xX wrote: »

This IMF stuff is scary. I just wish I was old enough to actually get out of here...the budget is gonna be terrifying.

i'm actually terrified. I just want to leave

Namlub

I get that we don't really have any other options but isn't entering into even more loans just going to make the situation even worse in the long term?

Slow Show

Namlub wrote: »

I get that we don't really have any other options but isn't entering into even more loans just going to make the situation even worse in the long term?

Well I'm no expert, but our income and expenditure is certainly not balanced, and like already said, no one else is gonna lend us the money 'cos they've about as much chance of being paid back as Galway winning the Quidditch World Cup...so these are the only people who are gonna lend us money. And if we don't get loans, we won't be able to fund the country and keep it running. We've gotta keep going somehow...

jumpguy

kev9100 wrote: »

In the next two years, poverty, emigration and unemployment are gonna skyrocket.

Y'know what else will skyrocket?

Craic!

kev9100

Namlub wrote: »

I get that we don't really have any other options but isn't entering into even more loans just going to make the situation even worse in the long term?

Thats definitely possible. But the simple fact of the matter is we need money and we need it pretty damn quick and f the markets won't lend, what can we do?

jumpguy wrote: »

Y'know what else will skyrocket?

Craic!

Gotta love your optimism.

Insect Overlord

Exactly! Sure the craic'll be mighty. No need to to be talking about things being depressing, like.