We're All Screwed

th3 s1aught3r

Mr Trade In wrote: »

So what time does the public lynching of the bankers and Fianna Fail start at.

Right after the screwing of everyone else

Duggy747

*Checks I'm not Jewish*

Juuuuuuuuuust in case :pac:

RobitTV

The International Monetary Fund says it has not received a request from Ireland for financial support.

It confirmed a team of its officials was en route to Ireland and planned to begin work tomorrow morning to assess what may need to be done to assure financial stability.

Representatives of the IMF, the European Central Bank and the European Commission will discuss Ireland's four-year budgetary plan and the restructuring of the banking sector.

Central Bank Governor Patrick Honohan has said he expects the talks will result in a loan being offered to Ireland.

negotiations were not about a bailout, but would lead to a loan of tens of billions to Ireland, and that the Government would have to accept it.

This afternoon, Taoiseach Brian Cowen said the Central Bank Governor is entitled to give his view of the outcome of talks with European officials and the IMF.

The Taoiseach said there was no question of loss of sovereignty for Ireland as a result of the talks.

He added that he did not believe there was a reason for people in Ireland to feel ashamed or humiliated.

He said the Government's main interest was the protection of the taxpayer. He denied he was talking in riddles and said he is discharging his job responsibly

Former Taoiseach John Bruton said it was a sad day that Ireland would not now be making its decisions without someone looking over its shoulder.

Meanwhile, British Prime Minister David Cameron said he did not want to 'speculate' about Ireland's position when he was asked by MPs today about the likelihood of a bilateral bailout.

Speaking to the Commons Liaison Committee, Mr Cameron said: 'I don't want to rule things out, but I don't think we should be speculating.'

Son Of A Vidic

Cavehill Red wrote: »

Oh Danny Boy, die Rohre sind die Rohre Aufruf....................

Following along with that theme, the national anthem will now have to be learned as follows.

Soldiers are we.......Soldaten sind wir, deren Leben Einige zugesagt, Irland Welle komme aus einem Land jenseits des, Sworn frei zu sein, nicht mehr unsere alten sireland Shall Schutz des Despoten oder Sklaven, heute Abend werden wir den Menschen die Bearna Baoghal In Erin's verursachen Leid. Kommen Wohl oder, "Mid Kanonendonner und Gewehrfeuer's läuten wir Lied singen eines Soldaten.

alwaysadub

I see you still haven't learnt to give a source to your articles.
Or did ya write that yourself

easyeason3

Robit, I have a far more important question for you.

What happened between you father & brother?

Remember, they were fighting & your father was going to throw your brother out?

AnonoBoy

easyeason3 wrote: »

Robit, I have a far more important question for you.

What happened between you father & brother?

Remember, they were fighting & your father was going to throw your brother out?

Jaysus no way!

Sure they'd be the talk of the village if that happened.

silverspoon

Cavehill Red wrote: »

Oh Danny Boy, die Rohre sind die Rohre Aufruf

Going to stop you there on translation grounds. 'the pipework are the pipework call'.

Ach so...die grammatische Nazi-Partei haben jetzt Macht geleistet! (b*tches be going down.*)





*Or should I say, b*tches are going down?

maxwell smart

Who's paying for that? :eek:

Seriously though, what sort of ransom could we get for them??

talla10

At this stage id welcome podge & rodge's budget proposals

Let IMF do their thing there is no other way out

Saila

but are they playing at the merrion?

ballsymchugh

we could get space cash off that baby farks mcgeezaks and send them on their way.

Plug

I can just imagine the room service coming around to their rooms with a trolley full of Irish cheese. Then they are looking at your one thinking WTF?

someuser905

remind me, what's the ff spin as why we arn't a failed state looking for a bail out?

KeithM89_old

Whats the IMF ?? I wish someone would create a load of threads explaining every little thing they do...:)

Plug

KeithM89 wrote: »

Whats the IMF ?? I wish someone would create a load of threads explaining every little thing they do...:)

According to the OP its some kind of electro magnetic force.

JONJO THE MISER

:eek:was down at the chip shop there, the guy behind the counter said the I.M.F were in earlier ordering a snackbox wit gravy on the side.

Then another guy said he could of sworn the I.M.F stole his mother's 2 pupies:(

mikedragon32

JONJO THE MISER wrote: »

:eek:was down at the chip shop there, the guy behind the counter said the I.M.F were in earlier ordering a snackbox wit gravy on the side.

He also swears he's Elvis.

gcgirl

Your unbelievable

Latchy

I thought this Irish ecomomy doomed thread ( so many ) as good as any to post ..this one'll do

Ahem '' So does this mean that Jancinta wont get the pink caddilac for her communion now ? ''

/ lame joke ..about 2 years outta date



I'll get my coa..... no I'll fcuking run out of thread now ...:pac:

omahaid

Jeez, Pat Rabitte tearing strips out of Pat Carey on RTE Primetime

Lone Stone

So eh should we start thinking about taking our savings out of the banks yet or what ?

Cheap Thrills!

Go Pat Rabitte lashing the bejaysus out of some FF cnut on Prime Time!

xkariex

Max Power1 wrote: »

Rumour fail - the EMF do not and cannot take control of any sovereign nation.

No country in the EU has economic soverenty !!

xkariex

KeithM89 wrote: »

Whats the IMF ?? I wish someone would create a load of threads explaining every little thing they do...:)

International monetary fund. In lativa, south africia they cut half public jobs, closed half the schools and hospitals. It will be the poorest hit.. Were screwed if they come in . If they come in with the EU it wont be as harsh it will be like Greece the EU and imf went in together ..

xkariex

omahaid wrote: »

Jeez, Pat Rabitte tearing strips out of Pat Carey on RTE Primetime

Ha brilliant !!!

K-9

xkariex wrote: »

No country in the EU has economic soverenty !!

No country that borrows too much has it either, inside or out of the EU.

Paddy Samurai

KeithM89 wrote: »

Whats the IMF ??

The International Monetary Fund (IMF) is the intergovernmental organization that oversees the global financial system by following the macroeconomic policies of its member countries, in particular those with an impact on exchange rate and the balance of payments. It is an organization formed with a stated objective of stabilizing international exchange rates and facilitating development through the enforcement of liberalising economic policies[1][2] on other countries as a condition for loans, restructuring or aid.[3] It also offers highly leveraged loans, mainly to poorer countries. Its headquarters are in Washington, D.C., United States. The IMF's relatively high influence in world affairs and development has drawn heavy criticism from some sources

The IMF sometimes advocates "austerity programmes," increasing taxes even when the economy is weak, in order to generate government revenue and bring budgets closer to a balance, thus reducing budget deficits. Countries are often advised to lower their corporate tax rate.

http://en.wikipedia.org/wiki/International_Monetary_Fund

Their the Gestapo of the financial world.

xkariex

K-9 wrote: »

No country that borrows too much has it either, inside or out of the EU.

Totally agree !!

MonkeyTennis

i bet all you f*ckers wish the headshops were open now !

Paddy Samurai

Me ......i know Fook all!.
So decided to check them out.
Not sure about wikipedia and its accuracy,but if even half is true we could end up even in deeper sh!t with them.

Two criticisms from economists have been that financial aid is always bound to so-called "Conditionalities", including Structural Adjustment Programs (SAP). It is claimed that conditionalities (economic performance targets established as a precondition for IMF loans) retard social stability and hence inhibit the stated goals of the IMF, while Structural Adjustment Programs lead to an increase in poverty in recipient countries.[29]
The IMF sometimes advocates "austerity programmes," increasing taxes even when the economy is weak, in order to generate government revenue and bring budgets closer to a balance, thus reducing budget deficits. Countries are often advised to lower their corporate tax rate. These policies were criticized by Joseph E. Stiglitz, former chief economist and Senior Vice President at the World Bank, in his book Globalization and Its Discontents.[30] He argued that by converting to a more Monetarist approach, the fund no longer had a valid purpose, as it was designed to provide funds for countries to carry out Keynesian reflations, and that the IMF "was not participating in a conspiracy, but it was reflecting the interests and ideology of the Western financial community

Argentina, which had been considered by the IMF to be a model country in its compliance to policy proposals by the Bretton Woods institutions, experienced a catastrophic economic crisis in 2001,[32] which some believe to have been caused by IMF-induced budget restrictions — which undercut the government's ability to sustain national infrastructure even in crucial areas such as health, education, and security — and privatization of strategically vital national resources.[33] Others attribute the crisis to Argentina's misdesigned fiscal federalism, which caused subnational spending to increase rapidly.[34] The crisis added to widespread hatred of this institution in Argentina and other South American countries, with many blaming the IMF for the region's economic problems.[35] The current — as of early 2006 — trend towards moderate left-wing governments in the region and a growing concern with the development of a regional economic policy largely independent of big business pressures has been ascribed to this crisis.

Impact on public health
In 2008, a study by analysts from Cambridge and Yale universities published on the open-access Public Library of Science concluded that strict conditions on the international loans by the IMF resulted in thousands of deaths in Eastern Europe by tuberculosis as public health care had to be weakened. In the 21 countries to which the IMF had given loans, tuberculosis deaths rose by 16.6%.[40]
In 2009, a book by Rick Rowden titled, The Deadly Ideas of Neoliberalism: How the IMF has Undermined Public Health and the Fight Against Aids, claimed that the IMF's monetarist approach towards prioritizing price stability (low inflation) and fiscal restraint (low budget deficits) was unnecessarily restrictive and has prevented developing countries from being able to scale up long-term public investment as a percent of GDP in the underlying public health infrastructure. The book claimed the consequences have been chronically underfunded public health systems, leading to dilapidated health infrastructure, inadequate numbers of health personnel, and demoralizing working conditions that have fueled the "push factors" driving the brain drain of nurses migrating from poor countries to rich ones, all of which has undermined public health systems and the fight against HIV/AIDS in developing countries.[41]

I hope this one only refers to the third world.......or are we now becoming one of them?.

ninebeanrows

It's so funny at times when you give this epic fail some context!

We were high rolling, Merc Driving, Quadruple Holidaying, Triple House owning millionaires who wandered Europe and beyond with great arrogance ( Unfortunately not me!)

I suppose the signal that something was abit suspect was to consider that myself a lad from a ordinary middle class family in Ireland was attending a high rolling French Summer college in Monaco with children of millionaires.

To think this was just a mere 5 years ago.

From the most respected Economic miracle state in 2005 to the arrival of the IMF on November 18th 2010.

It is quite an unfathomable outcome.

I just am so shocked that it has taken the arrival of the IMF with that name which really resonates with young and old, to waken up
people to the realisation of the unbelievable abject treason committed by FF.

No words really are enough.

K-9

Paddy Samurai wrote: »

Me ......i know Fook all!.
So decided to check them out.
Not sure about wikipedia and its accuracy,but if even half is true we could end up even in deeper sh!t with them.

That is assuming the alternative is better. If we go to the markets in February and can't borrow because the interest rate is unsustainable, the cuts would be far more severe.

Frei

Will the govt give up our low corporation tax???

A comment from the grauniad:

For example, the profits from Google's advertising revenues from the UK and Germany are routed through Ireland, so that Google pays very little tax on its UK and German profits in Ireland, and virtually none in the UK and Germany. While it might benefit Ireland somewhat, the real losers are the other countries in Europe and their taxpayers. Of course, Google is quids in.
This collapse isn't just the fault of some kleptocratic elite. I got sick of listening to Irish friends and family behaving like uber-Daily Mail readers: bragging about how much their houses were worth and Ireland's Wirtschaftswunder; moaning about immigrants stealing all their money; defending their troughing from the EU moneypit whilst simultaneously claiming to be the richest nation in Europe. They wouldn't listen to any doubters and borrowed and consumed like crazy and didn't care about our loss of tax receipts when the likes of Experian and WPP relocated and Microsoft and Dell recycled profits through the Emerald Isle. They got the politicians they voted for.
Irish PM de Valera and Irish President Hyde signed the condolence book for Hitler at the German Embassy in Dublin in full knowledge of the horrors of the Holocaust. Excuse me a bit of Schadenfreude if Ireland now becomes a client state of Germany. Let's see if they really do prefer the teutonic debtors' gaol to the English yoke.
I sincerely hope we and the rest of the EU don't allow Ireland's self-indulgent tax regime to continue. If the Irish want to go it alone and let their banks and government collapse, so be it, it is a suicidal, and hence ineffective, piece of brinkmanship.
I read the comments from Irish readers stating that the economy will collapse without the corporation tax arbitrage. Well, fair enough, but maybe Ireland could consider earning its cash in ways other than property speculation, non-existent regulation, EU grants or providing tax dodges? I don't think German voters will allow Merkel to bail out the Irish with that corporation tax regime in place, whatever the circumstances.

My name is URL

Frei wrote: »

Will the govt give up our low corporation tax???

A comment form the grauniad:

Bringing the Holocaust into it and rejoicing in our misfortune.. not exactly the epitome of maturity tbh... quite low actually.

Maybe they're right about our corporation tax being too high but with a hateful comment like that I wouldn't place much thought in any of the others there

Frei

That's not in the article it's a comment on the article.

wil

Weathercheck wrote: »

It is quite an unfathomable outcome.
.

Not at all.

What is unfathomable is the number of people bought in to the high rolling, merc driving, summer in Monaco lifestyle.

Half couldnt rub 2 syllables together yet were investing in portfolios, dabbling on the stock exchange and wintering in places they couldnt even identify on a map.

How many kept voting to keep the champagne on credit lifestyle. Yet 10 years previous same people wouldnt have got a job in McDs.
1993 peak of the unempoyment rate. 2000 real peak of the boom, 2003 mini recession and then onwards the slide in to credit fueled property investment madness in the mistaken belief that we were different to others that had gone down that same road to oblivion. You have to make something and sell it to make money. All we did was make credit and sell it to ourselves.
Combined with deregulation, comatose regulators and cronyism what could be expected.

Been refused a loan, well we can give you an even bigger one. Remortgage your mortgage, sell your soul and eventually lose the charvais off your back.
Buy another house, invest where everyone is, just like eircom shares, you cant lose.

Unfortunately in this case the number and extent of those who overborrowed now outweighs those of us who didnt.

The virtual hads may now join the have nots.

The rising tide may have lifted all boats, but now the tide is gone out we are all left in the Sht

King Canute economics

starbelgrade

This thread really hasn't gone the way I planned.

wil

starbelgrade wrote: »

This thread really hasn't gone the way I planned.

Do you need a bail out?

Inverse to the power of one!

wil wrote: »

Do you need a bail out?

Even if you don't we will still insist on rectally inserting one!

Inverse to the power of one!

wil wrote: »

Do you need a bail out?

Even if you don't we will still insist on rectally inserting one!

Lando Griffin

Here are my cost cutting measures for the Government.

1. Cut the amount of Dail members in half.
2. Abolish the senate.
3. Decentralise the Dail, therefore be able to sell Leinster House, Franleigh House, Government Buildings etc and move into an industrial unit outside Athlone.
4. Cut the ministers pensions to 1 single pension allowed per minister only to be got at retirement age.
5. Sell all the mercs and let them have Skodas.
6. No need for a president, sell the Phoenix park residence
7. Outsource the army so they can become mercenaries for other armies.

Here are some new policies for Job creation and money making

1. Mine all the Gold out of Croagh Patrick.
2. Build nuclear power stations about 8 of them and sell the energy abroad.
3. Sell the Spike in Dublin for scrappage.
4. All the unfinished buildings, knock them down and get all the steel and other scrappage material and sell it, and put the money into making the estates half respectable.
5. Legalise cannabis, but only to be grown by a government agency which will reap the profits from a successful Drugs Tourism industry and also bring back the head shops.
6. Legalise prostitution only brothels to be run by Government agencies and reap the rewards from a successful Sex tourist industry.

Tigger

Lando Griffin wrote: »

Here are my cost cutting measures for the Government.

1. Cut the amount of Dail members in half.
2. Abolish the senate.
3. Decentralise the Dail, therefore be able to sell Leinster House, Franleigh House, Government Buildings etc and move into an industrial unit outside Athlone.
4. Cut the ministers pensions to 1 single pension allowed per minister only to be got at retirement age.
5. Sell all the mercs and let them have Skodas.
6. No need for a president, sell the Phoenix park residence
7. Outsource the army so they can become mercenaries for other armies.

Here are some new policies for Job creation and money making

1. Mine all the Gold out of Croagh Patrick.
2. Build nuclear power stations about 8 of them and sell the energy abroad.
3. Sell the Spike in Dublin for scrappage.
4. All the unfinished buildings, knock them down and get all the steel and other scrappage material and sell it, and put the money into making the estates half respectable.
5. Legalise cannabis, but only to be grown by a government agency which will reap the profits from a successful Drugs Tourism industry and also bring back the head shops.
6. Legalise prostitution only brothels to be run by Government agencies and reap the rewards from a successful Sex tourist industry.

lando for president :cool:

Zillah

Today Dominique Strauss-Kahn arrived in Dublin to discuss the bail out. Frankly I find his attitude a little bit condescending. We might be in a difficult spot but there's no need for that sort of tone.

Link to press conference.

WallyGUFC

I thought Dominique was a girl's name...

High energy

I could never beat him on Mortal Kombat

Gunsfortoys

WallyGUFC wrote: »

I thought Dominique was a girl's name...

It really isn't.

thebigbiffo

meh

Luxie

Zillah wrote: »

Today Dominique Strauss-Kahn arrived in Dublin to discuss the bail out. Frankly I find his attitude a little bit condescending. We might be in a difficult spot but there's no need for that sort of tone.

Link to press conference.

A Frenchman being condescending? Well I never!

Biggins

*Yawn*