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Exchequer may be running out of willing creditors

This is a discussion on Exchequer may be running out of willing creditors within the Economy forums, part of the Topical Discussion category on Politics.ie. Originally Posted by cavok Me! or Clowen? The Electorate?...
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Old 21st April 2009
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Originally Posted by cavok View Post
Me! or Clowen?
The Electorate?
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Old 21st April 2009
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Me! or Clowen?
Clowen of course...He does not care about the country. All that matters to Clowen is keeping his rich friends rich.
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Old 21st April 2009
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Aren't there some bonds maturing this month which will have to be rolled over?

I suspect we'll really be rolled then.
reminds me of the old joke..

How would you 'tap' harney?

roll her in flour and tap the wet patch...

roll over, sweet baby jesus, I am off to my potato plot.

I think I will have to erect fencing and a Night hut...
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Old 21st April 2009
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Here the results from the bidding today from NTMA:
NTMA - Government Bonds - 2009 Auction Results
The bid to cover ratio was only 1.1 on the 2018 bond!


And they are going again Thursday for another circa €1.5billion.
http://www.ntma.ie/Publications/2009...ent23Apr09.pdf
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Old 21st April 2009
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Clowen of course...He does not care about the country. All that matters to Clowen is keeping his rich friends rich.
the irish bog man ego, tis a dangerous t'ing

'im de taoiseach'

'what would a lad in S+P know about politics in Ireland?'

sweet baby jebus!
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Old 21st April 2009
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If deflation in Ireland hits 4% as was suggested in the budget then the effective rate is nearer 10%

That is a nightmare scenario.
What really sets the interest rates on any bond is the inflation rate over the bonds life and the risk of default. Now with deflation at 4% it clearly shows that the default risk is the main concern.

German bunds have a default risk as well. However comparing both eliminates the effect of inflation to show the greater chance of Ireland defaulting. I would say there is a good risk of Germany defaulting.

I would say there is a certainty of Ireland defaulting. Buyers of these bonds today will lose money imo.
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What really sets the interest rates on any bond is the inflation rate over the bonds life and the risk of default. Now with deflation at 4% it clearly shows that the default risk is the main concern.

German bunds have a default risk as well. However comparing both eliminates the effect of inflation to show the greater chance of Ireland defaulting. I would say there is a good risk of Germany defaulting.

I would say there is a certainty of Ireland defaulting. Buyers of these bonds today will lose money imo.

what inclines you to think DE are at a good risk of DEF?

curious...
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Old 21st April 2009
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And they are going again Thursday for another circa €1.5billion.
http://www.ntma.ie/Publications/2009...ent23Apr09.pdf
IMF during the summer?
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Old 21st April 2009
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The announcement of the bills next Thursday takes the biscuit. One is for just about 40 days. They are just limping to get to Lisbon in October but they won't make it
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The announcement of the bills next Thursday takes the biscuit. One is for just about 40 days. They are just limping to get to Lisbon in October but they won't make it
When you think it will burst? July?
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