The Question about Irish debt deal pushed back to next March

poeticseraphim

http://www.thesun.co.uk/sol/homepage/irishsun/irishsunnews/4578925/Noonan-Debt-deal-push-back-until-March.html


Ollie Rehn HAD PROMISED PUBLICLY last july that we would get an answer last by the end of this month.

But no they cannot keep their word of course

March is the nest due date for the 3bill payment....

And the ESM is launched this week and Spain gets its banks directly recapitalized...

Noonan admits obviously this will affect the budgt..his response to this hmmis he miffed ..will he figh his arguement

'Speaking at the launch of the ESM in Luxembourg, Minister Noonan hinted that an ECB pledge on slashing bailout costs is now needed.

He said: “On the promissory note the political timeline is to get a new arrangement by March when the next tranche of money has to be paid.

“It would help me doing the budgetary arithmetic if something could be arranged or a statement of intent could be achieved before the Budget.”

He added: “The policy as set out by (EU) heads of state on June 29th prevails. We’ve had assurances of that from the Commission.”'

But it is ok TIME MAGAZINE said Enda knows what he is doing...so they obviously are in control....yeah

Eu could not give a ***....fair enough...lets leave the Euro lets th banks fail ....just do it you know we want to }:-)}:-) mwahahaha

poeticseraphim

http://www.irishtimes.com/newspaper/opinion/2012/1008/1224325013808.html

The case for Irish debt relief....one thing is interesting..all comentators seem to be in agreement on one thing...we cannot sustain this public indebtedness it is not possible...and exiting the bailut programme and a return to the bond markets happens within the next two years...and it is impossibl to sustain...yes we need to spend less but the public indebtedness is just not possible to sustain and evryon is being honest about it now...

Are we being gently forced out of the Euro??? Hmm worth asking. TIN FOIL HAT TIME

poeticseraphim

http://news.yahoo.com/ireland-ecb-disagree-debt-deal-minister-115828818--finance.html


Also the EU openly says NO basically...so...in my opinion we need to get real..

We can't sustain it...we know it. ...thy must know it..petrhaps they ar forcing th smalller pigs out and keeping Spain in..maks sense

But if we cant get a debt deal..we should alk about options..even default..

poeticseraphim

Realty versus fantasy

http://www.independent.ie/opinion/analysis/stephen-donnelly-td-were-mad-as-hell-and-need-to-show-it-3230012.html

Is the good spiel spun by the Govt actually a tim bomb??? And again we are s***ed with th public dbt and no country has ever been able to pay it off without printing its own currency..they are simply forcing us out of the Euro.


Also interesting given th responses by others abroad in disbelief to the inaction by people in our govt and people in general.

And he reads it spot on with the Unions croke park bought them off..and stopped them from kicking up a fuss that could have spurned the govt to trying harder ..but they will only take action o protect thir high wages and take our taxes

Maura74

The IMF has been sharply lowed the UK by 0.4 this year and it also downgraded the EU and US.

http://www.bbc.co.uk/news/business-19876587


http://www.bbc.co.uk/news/business-19879620

woodoo

Its nothing short of pathetic the way Kenny and Noonan have sauntered along hoping and hoping for some relief to be handed to them out of pity. Pity doesn't work with these guys. They need to fight, fight hard fight dirty, take risks.

It is amazing that Spain gets their banks recapitalised directly and we took it all on the sovereign. The media need to be on Noonans and Kennys back night and day about how pathetically they have dealt with this.

Scofflaw

woodoo wrote: »

Its nothing short of pathetic the way Kenny and Noonan have sauntered along hoping and hoping for some relief to be handed to them out of pity. Pity doesn't work with these guys. They need to fight, fight hard fight dirty, take risks.

It is amazing that Spain gets their banks recapitalised directly and we took it all on the sovereign. The media need to be on Noonans and Kennys back night and day about how pathetically they have dealt with this.

Hopefully, the media can do it starting with facts, though. The €100bn earmarked for Spanish banks will be loaned to the sovereign, just as ours was, unless the euro countries decide that the ESM can be used for legacy bank issues, which is currently up in the air courtesy of Germany, Finland, and the Netherlands.

But if the ESM can be used for legacy bank issues such as Spain, it can be used for Ireland in the same way.

cordially,
Scofflaw

Sand

@poeticseraphim

Is the good spiel spun by the Govt actually a tim bomb???

Its certainly self defeating for the government to be overly optimistic about Ireland's prospects. The *only* advantage of the Nov 2010 "bailout" was that it meant Ireland could tell the truth. It didn't have to lie anymore to hope to sell bonds. It could quite happily tell the truth about Ireland's ability to cope with all the debt shoved onto our shoulders by the banks in an anti-market bubble guaranteed by the "bailout".

Unfortunately the Green Jersey brigade that have dominated Official Ireland's thinking view any sort of realism as "talking down Ireland" or some form of treason. They've relentlessly talked up anything that even hints of progress, and in doing so have played right into the hands of the EU core that very simply do not want to bail us out. I don't think Official Ireland has ever grasped that - even now there is some desperate hope that there will be some deal in March 2013. This after the desperately hoped for deals in March 2012 and October 2012 have been forgotten.

I didn't argue for leaving the banks to burn because it was a bit of a giggle. I did so because it was incredible that Ireland could save the banks without itself being dragged into bankruptcy. Ireland>>>>Irish banks in my view. If Ireland *could* save the banks, if it was merely difficult, then the choice to do so was merely unfortunate but not crippling. Everyone agrees on this - especially the EU core that does not want to bail us out. And Official Ireland has talked and talked us into a position where they have convinced almost everyone that Ireland can save the banks. That it is merely difficult. In doing so we have destroyed our key negotiating principle - that we cannot save the banks. It is impossible for us to do so.

If I was a German, and was hearing all the good news about Ireland and how they're struggling onwards to sunlit lands, Id seriously question why I would be expected to relax any term of the scandalous November 2010 "bailout" when I would be (understandably) more concerned with German news, which is not all that rosy.

Kenny has publicly acknowledged that we *deserve* the November 2010 deal, and that we *can* make the November 2010 deal work. So under what basis are Kenny and Noonan asking for help? Its this sort of awful negotiating position that Official Ireland has talked us into.

NIMAN

Does anyone think that Ireland had a great bargaining chip to blackmail Europe/ECB with, (we could cause the Euro collapse), but never really used it?

We never played hard ball.