The Irish Republic

[Nom de plume]

The Irish Government really hasn't got any other option but to accept the EU bailout has it?

 

By not taking it, the withdrawals from commerical & investment accounts will literally bring the country to it's knees ...

 

A sorry tale of how the Euro killed a country. The irony? The Euro will now save it.

[Cambon]

The irony? The Euro will now save it.

Or will it? The Irish governments need about £80 billion to prop up the banks. Just by chance, the amount that the Irish branches of Lloyds and RBS owe to the UK is about the same. If Osborne (UK) lend Ireland the money, it will really bugger up the EU, whilst helping both the uk and Ireland.

[spook]

The Euro isn’t what has ruined Ireland, it’s the greed by individuals and groups of individuals who engaged in relying on usury with others doing the same that created a series of unsustainable financial bubbles that has ruined Ireland.

 

The Euro had the potential to do wonders for Ireland by providing the means to create an economy based on trade in the global market, and not on shuffling around of ever increasing debt based on others extending credit in the knowledge that the country could continue to get more credit because of its membership of the Eurozone.

 

But individual greed took over.

 

It was like giving a bunch of alcoholics the keys to the wine cellar.

[spook]

The irony? The Euro will now save it.

Or will it? The Irish governments need about £80 billion to prop up the banks. Just by chance, the amount that the Irish branches of Lloyds and RBS owe to the UK is about the same. If Osborne (UK) lend Ireland the money, it will really bugger up the EU, whilst helping both the uk and Ireland.

 

Sigh.

[pongo]

A sorry tale of how the Euro killed a country. The irony? The Euro will now save it.

 

Stephanie Flanders at the BBC in this article today:

 

Ireland has played by the rules of the single currency system. As a result, you can see a growth path out of this for the Irish economy within the euro, that you can't see for Spain, Greece or Portugal. If only they could just get past that mountain of private bank debt.

 

But of course, that's no small detail. Indeed, it's that mountain of debt that has ultimately made Ireland's banks vulnerable to this kind of loss of confidence, and all that follows from it.

 

One of the reason why the EU is so keen for Ireland to take the bail-out (which has been forced on it by the markets) is because otherwise the markets will then start betting against Portugal, then Spain, then ultimately Italy and France. They probably will anyhow. Because this is all, ultimately, a great way for the markets to make profits by buying back cheaper when stuff hits the bottom.

 

Another reason why Germany is so keen for Ireland to take a bail-out may be because the conditions attached may very well require Ireland to effectively stop being a tax haven. The German argument being that Ireland should raise taxes (and Corporation Tax in particular).

 

Raise corporation tax, EU tells Ireland

 

Two more interesting related articles:

 

Stop Claiming That The Euro Is Falling Due To Ireland -- That's Wrong

 

Viewpoint: Ireland's robust economy knocked off course (this interesting item is slightly ruined by a rather strained sports analogy)

[Erco]

People tend to forget that had the UK 'signed up' to the Eurozone they too would be cap n hand to the Central Bank

 

Instead the UK thinks that printing more (funny) money and off-setting the debt to future generations is a viable alternative.... viable for some

 

The Irish economy will suffer, but it will emerge stronger for it. The UK won't be so lucky

[Cambon]

Sigh.

Huh! You must be a really pro-europe person then? What people fail to realise is that ALL socialist unions fail eventually. ALL of them. May as well get it over with. The EU is there to benefit itself.

[spook]

Sigh.

Huh! You must be a really pro-europe person then? What people fail to realise is that ALL socialist unions fail eventually. ALL of them. May as well get it over with. The EU is there to benefit itself.

 

 

Nothing to do with the EU, and everything to do with you not understanding about the way that the financing of the UK banks was done.

[When Skies Are Grey]

Tis the work of the Devil I tell thee.....

[Cambon]

Nothing to do with the EU, and everything to do with you not understanding about the way that the financing of the UK banks was done.

 

Err - I know more than you could ever imagine

[pongo]

Sigh.

What people fail to realise is that ALL socialist unions fail eventually. ALL of them. May as well get it over with. The EU is there to benefit itself.

 

In what way is the EU any different from the US ? California is in a similar or worse economic state as Portugal and is close to defaulting on its debt. California has a economy roughly the size of France. If California goes what is to stop the same sort of state by state contagion spiralling out of control across the U$zone ?

 

Would you argue that the USA will also fail eventually ?

[spook]

Nothing to do with the EU, and everything to do with you not understanding about the way that the financing of the UK banks was done.

 

Err - I know more than you could ever imagine

 

Making assumptions about forum members is not always a good idea. You have just made such an assumption. Because I am a Christian doesn't mean that I spend my life in prayer or avoiding the dirty side of life. To do so would be precisely what I and those like me should NOT do.

[spook]

Sigh.

What people fail to realise is that ALL socialist unions fail eventually. ALL of them. May as well get it over with. The EU is there to benefit itself.

 

In what way is the EU any different from the US ? California is in a similar or worse economic state as Portugal and is close to defaulting on its debt. California has a economy roughly the size of France. If California goes what is to stop the same sort of state by state contagion spiralling out of control across the U$zone ?

 

Would you argue that the USA will also fail eventually ?

 

 

There is more than a possibility that increases every day as the Right start to recover what should never have been taken by socialists.

 

The USSR failed, and if that could happen then the USA could easily fail especially when the hard times come as they are increasingly showing signs of doing.

 

If (when?) the dollar loses its reserve currency status then all bets will be off for the solidarity of the "united" part of The United States.

[jimbms]

Nothing to do with the EU, and everything to do with you not understanding about the way that the financing of the UK banks was done.

 

Err - I know more than you could ever imagine

 

Making assumptions about forum members is not always a good idea. You have just made such an assumption. Because I am a Christian doesn't mean that I spend my life in prayer or avoiding the dirty side of life. To do so would be precisely what I and those like me should NOT do.

Where on earth did cambon make any assumption about you, You really are a paranoid fairy tale fiddler, all he did was to indicate he may have some inside knowledge you or thers do not and he never even mentioned or indicated any link with your misguided belief in the yiddish zombie.

[slinkydevil]

Nothing to do with the EU, and everything to do with you not understanding about the way that the financing of the UK banks was done.

 

Assumption.

 

Making assumptions about forum members is not always a good idea. You have just made such an assumption. Because I am a Christian doesn't mean that I spend my life in prayer or avoiding the dirty side of life. To do so would be precisely what I and those like me should NOT do.

 

I'm assuming you're a hypocrite?

 

As for avoiding 'the dirty side of life', you can't even bring yourself to say p*gan.

 

Carry on.