Cowan to make statement at 18:15

maxwell smart

This is it!

Just announced on Sky News.

The interest rate over the three sources of funds is what I'm most interested in. I reckon 5.5%

syklops

maxwell smart wrote: »

This is it!

I wont bother tuning in. He didn't actually say anything the last 2 times he "addressed" the nation. All he is going to say is, that they have agreed on the bailout.

Unless he follows it with, "by the way, I quit", there will be little of interest in what he says.

Bob_Latchford

Irks me that this luxemborg finance minister is announcing such important news to Ireland. should be the government

syklops

Bob_Latchford wrote: »

Irks me that this luxemborg finance minister is announcing such important news to Ireland. should be the government

Well their giving us the money, so I guess they call the shots.

EKRIUQ

He didn't even speak, and 85bn with no mention of the interest rate and there going to use our cash reserves and pension fund.

zig

EKRIUQ wrote: »

He didn't even speak, and 85bn with no mention of the interest rate and there going to use our cash reserves and pension fund.

Clever move by EU,this forces us into more dependence on them in the long run.

Byron85

17.5 billion is being taken from the NPRF to "plug the hole" in the banks. We are not being robbed. We're being plundered.

Bob_Latchford

Pension fund should be ring fenced

godtabh

5.8% per annum on rte now

hotmail.com

5.8%

barry181091

5.8% PA if drawn down in total today.

445279.ie

5.8%

ntlbell

5.8% on average.

we're fecked.

Byron85

Interest rate will be at 5.8% if all of the figures today are drawn down, whatever that means.

Bob_Latchford

will they pay Pension fund 5.8%?

maxwell smart

Extra year to reach 3% deficit.

godtabh

maxwell smart wrote: »

Extra year to reach 3% deficit.

A little more wiggle room to hang ourselfs

Bob_Latchford

wheres Biffo?

mike65

Its on

mike65

12 billion from National Pension Reserve Fund, no change to Corpo Tax rate (quell surprise)

SkepticOne

EU Interest rate to be decided next week using an IMF standard formula - Rehn.

SkepticOne

Rehn: No senior bond holders to be burned.

As expected to be honest.

SkepticOne

I have to say that if you want to know what's happening in Ireland, the EU conference is much more pertinent than what Cowen or any other Irish politician has to say.

Suspiria79

Byron85 wrote: »

Interest rate will be at 5.8% if all of the figures today are drawn down, whatever that means.

It doesn't mean anything. We just wake up, go to bed and do the same thing over and over. None of this means anything.

michael999999

fianna fail:the party that put n in cuts!

Sticky_Fingers

Asked a straightfoward question, can we afford the bailout at 5.8% Cowen just began talking in circles, he doesn't even believe in the plan himself and it appears to me that he knows its at best a short term "solution".

Laois_Man

They're being clever ****es. They're saying 5.83% average interest rate. But 20% of the money is already ours at 0% interest. But they've used that as part of the average. Sly 4ers!

godtabh

Laois_Man wrote: »

They're being clever ****es. They're saying 5.83% average interest rate. But 20% of the money is already ours at 0% interest. But they've used that as part of the average. Sly 4ers!

so whats the actual rate? (I dont have a calculator here)

mike65

Going forward!!!!!!!!!!!!!!!!!!!!!!!!!!!!!! :mad:

godtabh

mike65 wrote: »

Going forward!!!!!!!!!!!!!!!!!!!!!!!!!!!!!! :mad:

he is just a parody now

steelcityblues

He should resign as Taoiseach and stop the facade!

godtabh

steelcityblues wrote: »

He should resign as Taoiseach and stop the facade!

not gona happen. Its not in his interest and the only thing he is interested in is himself.

The IMF must have found something really big in the banks to have us bent over this bad

steelcityblues

godtabh wrote: »

not gona happen. Its not in his interest and the only thing he is interested in is himself.

The IMF must have found something really big in the banks to have us bent over this bad

Probably right, and I don't think FG or Labour are interested in going into government either with their lack of budget proposals.

Sad state of affairs!

Brussels Sprout

Suspiria79 wrote: »

It doesn't mean anything. We just wake up, go to bed and do the same thing over and over. None of this means anything.

Of course it means something. It means that money which should be going into things like keeping regional hospitals open, fixing potholes, building schools, improving public transport, upgrading broadband etc will instead be used to pay off the interest on this money.

Saying this doesn't mean anything is akin to sticking your head in the sand.

Bob_Latchford

Will we ever get the details?

what is pension fund interest? what is rate of IMF/EU new money?

syklops

Brussels Sprout wrote: »

Of course it means something. It means that money which should be going into things like keeping regional hospitals open, fixing potholes, building schools, improving public transport, upgrading broadband etc will instead be used to pay off the interest on this money.

Saying this doesn't mean anything is akin to sticking your head in the sand.

Well tell me this, after a decade of boom, why is it that people lie on trolleys in A&E for 2 days before being treated, the secondary roads in most counties are practically off-road, there is a massive school shortage in most parts of the country, public transport outside the capital is sh1te. Broadband should be dependent on the normal rules of supply and demand. Instead the planning laws prevent normal private enterprise.

That's AFTER 10 years of boom, and the largest tax take in the states history.

Brussels Sprout

syklops wrote: »

Well tell me this, after a decade of boom, why is it that people lie on trolleys in A&E for 2 days before being treated, the secondary roads in most counties are practically off-road, there is a massive school shortage in most parts of the country, public transport outside the capital is sh1te. Broadband should be dependent on the normal rules of supply and demand. Instead the planning laws prevent normal private enterprise.

That's AFTER 10 years of boom, and the largest tax take in the states history.

Why is it you ask? I'll tell you exactly why. It's because when it comes down to it there's not a whole of votes in investing money in capital expenditure in Ireland. No, instead the money was disproportionately spent on public sector wages, state pensions and social welfare payments.

And now when cuts have to be made it'll be the capital expenditure that'll be slashed first for exactly the same reason.

gandalf

Sean O'Rourke just gave Cowen a tough interview there on This Week in Politics. Toughest interview I have seen a FF'er get on RTE. Cowen blustered his way through it.

Still can't believe they are sacrificing the pension fund in the way they have. They are going to use up all our assets before getting a cent from Europe leaving the country totally vulnerable to any downward changes in the World markets in the future which is entirely possible.

BeeDI

gandalf wrote: »

Sean O'Rourke just gave Cowen a tough interview there on This Week in Politics. Toughest interview I have seen a FF'er get on RTE. Cowen blustered his way through it.

Still can't believe they are sacrificing the pension fund in the way they have. They are going to use up all our assets before getting a cent from Europe leaving the country totally vulnerable to any downward changes in the World markets in the future which is entirely possible.

Thought Cowan did well. He is getting better by the day since the 4 year plan was published. I'm convinced, he will do like the Offaly hurlers, and play an absolute blinder in the last 10 minutes, to secure his position as leader of FF, and win the election. Not great for the country, but at least we won't have to listen to Enda, Gilmore and Joan of Arc.

zig

BeeDI wrote: »

Thought Cowan did well. He is getting better by the day since the 4 year plan was published. I'm convinced, he will do like the Offaly hurlers, and play an absolute blinder in the last 10 minutes, to secure his position as leader of FF, and win the election. Not great for the country, but at least we won't have to listen to Enda, Gilmore and Joan of Arc.

Worrying if this is the consensus of voters in the country.

steelcityblues

BeeDI wrote: »

Thought Cowan did well. He is getting better by the day since the 4 year plan was published. I'm convinced, he will do like the Offaly hurlers, and play an absolute blinder in the last 10 minutes, to secure his position as leader of FF, and win the election. Not great for the country, but at least we won't have to listen to Enda, Gilmore and Joan of Arc.

I think he will get electorally humiliated like Waterford did against Kilkenny in 2008, and rightly so!

gandalf

BeeDI wrote: »

Thought Cowan did well. He is getting better by the day since the 4 year plan was published. I'm convinced, he will do like the Offaly hurlers, and play an absolute blinder in the last 10 minutes, to secure his position as leader of FF, and win the election. Not great for the country, but at least we won't have to listen to Enda, Gilmore and Joan of Arc.

You think saddling the country with a crippling interest rate, stumping up money that was set aside for future pensions and using all our cash reserves is "playing a blinder" !!!! And you will vote for them again, mind boggling. I really would hate to see what you would call "not playing a blinder" LOL!

It is worrying that Fianna Fail will actually get more than one vote in the next election given the absolute disaster their policies have brought upon Ireland after 13 years of them in Government. Today the Government directly effected my sons future. I for one will never forgive them for that.

hotmail.com

BeeDI wrote: »

Thought Cowan did well. He is getting better by the day since the 4 year plan was published. I'm convinced, he will do like the Offaly hurlers, and play an absolute blinder in the last 10 minutes, to secure his position as leader of FF, and win the election. Not great for the country, but at least we won't have to listen to Enda, Gilmore and Joan of Arc.

Did well? He didn't answer the question regarding how much the bank bailout will cost. Sort of important omission.

Inverse to the power of one!

BeeDI wrote: »

Thought Cowan did well. He is getting better by the day since the 4 year plan was published. I'm convinced, he will do like the Offaly hurlers, and play an absolute blinder in the last 10 minutes, to secure his position as leader of FF, and win the election. Not great for the country, but at least we won't have to listen to Enda, Gilmore and Joan of Arc.

Er..........yeah, I don't think the defense forces are going to go along with his plan for a dictatorship.

kaiser sauze

BeeDI wrote: »

Thought Cowan did well. He is getting better by the day since the 4 year plan was published. I'm convinced, he will do like the Offaly hurlers, and play an absolute blinder in the last 10 minutes, to secure his position as leader of FF, and win the election. Not great for the country, but at least we won't have to listen to Enda, Gilmore and Joan of Arc.

Ah, here...

femur61

syklops wrote: »

Well tell me this, after a decade of boom, why is it that people lie on trolleys in A&E for 2 days before being treated, the secondary roads in most counties are practically off-road, there is a massive school shortage in most parts of the country, public transport outside the capital is sh1te. Broadband should be dependent on the normal rules of supply and demand. Instead the planning laws prevent normal private enterprise.

That's AFTER 10 years of boom, and the largest tax take in the states history.

Absolutely terrible what has happened, but is it really. Politics is rife with cronyism, as the poster said our hospitals are so mismanaged. Transport ourside the pale is terrible, a lot of proffessions are closed. PS reform needs to be implemented. No present government would do it maybe we do need a slash and burn to shock us.

We will suffer pain for a few years, but we need the country not just politics cleaned up.

P. Breathnach

BeeDI wrote: »

Thought Cowan did well. He is getting better by the day since the 4 year plan was published. I'm convinced, he will do like the Offaly hurlers, and play an absolute blinder in the last 10 minutes, to secure his position as leader of FF, and win the election. Not great for the country, but at least we won't have to listen to Enda, Gilmore and Joan of Arc.

I also think Cowen did well, but it's only a dot of paint on a very big (and gloomy) picture, and FF are still heading towards electoral meltdown.

Herself told me that she had a disturbing thought: how Enda would perform in the same situation.