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  1. #4621
    ibis ibis is offline

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    Quote Originally Posted by CarnivalOfAction View Post
    The cost SO FAR of Irish taxpayers being forced to pay private bankers' debts to save the Euro, is over €9,500 per citizen, compared to €192 for other EU citizens. Some deal "achieved" by FG/FF/LP banksters' bitches.
    Those figures are also rubbish - they're Michael Taft's contribution to the unions' narrative of "look at the banks! don't look at the deficit!", and they're based on a very spurious measure, which is the extent to which each bailout is characterised as "capital transfers" rather than "financial transactions" - Taft's figures include only the former. Our promissory notes arrangement means that our bailout is largely the former, whereas most other countries more sensibly went the route of the latter - I say more sensibly, but you could say we had little choice because of the government deficit Taft would like draw attention away from.

    In fact, our bailout costs per head are higher than other countries', but not as much higher as Taft pretends - Germans are on the hook for at least €3,500, the British for at least €1,880 - the average cost per head is at least €1,820, not €192. As for "42% of Europe's bank bailout" - that's even more spurious a claim. There is no "European" bank bailout (unfortunately, perhaps), and our costs as a % of Europe's costs so far is about 7.67%.
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  2. #4622
    ibis ibis is offline

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    Quote Originally Posted by CarnivalOfAction View Post
    Agreed, but we should have told these greedy, incompetent, private gamblers to take a hike, if it weren't for the ECB & their bitches here.
    And you really believe we would have done? After two years of Lenihan telling us that bondholders were pari passu with depositors, and that the bondholders in any case included little old widows? All the ECB did was made us stick to what had already been government policy since the start of the crisis - and maybe not even that, maybe just refused to be our patsy.
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  3. #4623
    Anamnua Anamnua is offline

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    Listen to the opening sentence
    The Godfather - Tessio is taken away

    Sure enough, he did!
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  4. #4624
    CarnivalOfAction CarnivalOfAction is offline
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    Quote Originally Posted by ibis View Post
    And you really believe we would have done? After two years of Lenihan telling us that bondholders were pari passu with depositors, and that the bondholders in any case included little old widows? All the ECB did was made us stick to what had already been government policy since the start of the crisis - and maybe not even that, maybe just refused to be our patsy.
    I was referring to 2008 when the stupid FF/GP gov gave a blanket guarantee [supported by FG] under pressure from the ECB. FG/LP simply continued the stupid FF policy despite promising change.
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  5. #4625
    Dublin 4 Dublin 4 is offline
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    Only the Deef can dish up the Beef

    This morning, there are reports emerging of the ECB threatening to renege on the deal, after the Germans said the Irish deal came “dangerously close” to monetary financing.
    The ECB president Mario Draghi is reported to have said in Moscow this morning, that, in relation to the deal, the ECV “has to make sure that its actions are in conformity with its rules and statutes”


    ECB threatens to renege on promissory note deal « NAMA Wine Lake
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  6. #4626
    Porkypie Porkypie is offline

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    Quote Originally Posted by Dublin 4 View Post
    I'm not at all surprised. Mr Hall is not the only person preparing a challenge. I do believe that there is a French/Irish connection ready to mount a challenge to the legality of the yet to be signed agreement.
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  7. #4627
    Ribeye Ribeye is offline
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    Nice one Deef, rte have it now too,

    ECB will examine promissory note deal 'further' - RTÉ News

    Looks like that Paulbot lunatic Ribser called it wrong again

    From last Sunday,

    Quote Originally Posted by Ribeye View Post
    HERE WE GO FOLKS,

    Details now starting to emerge, I suspected that this was what happened,

    It looks like the govt got rebuffed by the ECB, esp Jens Weidmann, but they went ahead with the deal anyway,

    It was a solo run, for political reasons,

    Hence Dragis "taken note" comments, and why Honahan hasn't said a word all week,

    This story is only getting started folks,

    Popcorn!
    Quote Originally Posted by Toland View Post
    jesus wept
    Quote Originally Posted by Ribeye View Post
    What I'm saying is that the Germans, as one would expect, did not consent to this deal, because they know that it's monetary financing, and therefore illegal,

    The Dail needs only a majority, the ECB needs consensus,

    So the Germans said no, Dragi fudged it with the "takes note" rubbish, and Noonan & Kenny went ahead anyway, because they had painted themselves into a corner,

    Defy the Germans eh?

    I wonder how that's gonna work out?

    As Minister Reilly would say...

    "gud luk wih dat"

    Quote Originally Posted by Toland View Post
    ... copiously


    The ECB is entirely independent of the German government
    Quote Originally Posted by Ribeye View Post
    Lol

    I never said German Govt, I said the Germans, what about Weidmann and his guys?

    But your notion that the ECB is independent is still laughable
    Quote Originally Posted by Ribeye View Post
    Honahan on TWIP!!!
    Quote Originally Posted by ManUnited View Post
    OK very good. What does your legal team say about the legality of the deal now?
    Quote Originally Posted by Ribeye View Post
    Honahan just confirmed that the ECB did not agree the deal,

    There is no flippin deal,

    Weidmann is never gonna let this sham fly,

    I'd imagine that the legal position is that the €3.1 billion is still due to be paid in March,

    The Germans will not agree to illegal monetary financing,

    This is gonna be fun
    Quote Originally Posted by Toland View Post
    I hope I remember to rub your nose in this post. How much silence from the German Govt will do?

    A week?

    A month?
    Quote Originally Posted by Ribeye View Post
    The parties to the "deal" are the Irish Govt and the ICB, the the national CB's are not permitted to enter into such agreements without the sanction of the ECB,

    They sought such sanction, and the decision was deferred, not approved, not rejected, but deferred,

    But for political reasons, the Irish Govt went ahead anyway, sans approval,

    I'm tellin ye, this sh1t is not gonna fly with the Germans,
    Quote Originally Posted by Ribeye View Post
    Again, I never said govt,

    Weidmann, Head of the Bundesbank!
    Quote Originally Posted by Toland View Post
    He's going to protest?

    What planet are you on?
    Quote Originally Posted by Ribeye View Post
    You think Weidmann wants to be remembered as the German central banker who permitted Weimarr 2 to happen,

    Coz I don't,
    Quote Originally Posted by Toland View Post
    I think he'll stay stumm on this one. Even if he doesn't, it'll be a squeak. No reason at all to put the maize oil in the pot for the popcorn.

    I'd go to the cinema if I were you.
    Quote Originally Posted by Dublin 4 View Post
    Mmmm, popcorn
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  8. #4628
    ManUnited ManUnited is offline

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    Nice try Ribeye, but even the slow learners should have realised by now that in EU politics (all politics, but especially EU politics) you shouldn't listen to what they say, it's what they do that counts.
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  9. #4629
    ger12 ger12 is offline
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    Quote Originally Posted by Ribeye View Post
    Nice one Deef, rte have it now too,

    ECB will examine promissory note deal 'further' - RTÉ News

    Looks like that Paulbot lunatic Ribser called it wrong again

    From last Sunday,































    Mmmm, popcorn
    Bit premature Ribeye? The deals not off the table in fairness.
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  10. #4630
    sport02 sport02 is offline
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    Quote Originally Posted by Dublin 4 View Post
    Haven't we seen in recent times that Weidmann has not too much attention paid to him anymore.
    Didn't Weidmann vote against OMT and that was not taken of the table.
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