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  1. #91
    hammer hammer is offline
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    Jul 2009

    Quote Originally Posted by poolfan81 View Post
    Do you wanna cull all those who voted for them?
    Wouldn`t leave many. 59% good and honest men and women ( bar the shinner voters of course )
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  2. #92
    Bonsai Experiment Bonsai Experiment is offline
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    Jun 2010

    Quote Originally Posted by hiding behind a poster View Post
    You posted a link to an entire thread, which I'm not gonna read through in order to find a question. Just ask it here.
    I posted a link to the specific question. So long as you refuse to answer it, it proves your talking out your arss.

    Here you go again : dont say I didn't give you a chance to prove you know what you're talking about.

    The protest in Dublin today, did it achieve anything?

    I'm talking about post 373 .. explain how you are right, and wikipedia is wrong, and i'll never doubt you again.
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  3. #93
    Howya Howya is offline
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    Feb 2012

    Quote Originally Posted by murtaep View Post
    Its costed, so as close to fact as you will get and refered to by minister Noonan, your assumptions are wrong,

    A question I have posed on the ECB and the Anglo Prom notes to which there seems no answer… | Brian M. Lucey
    I have long advocated that the Irish Government should walk from the wretched promissory notes which were given to cover the losses at Anglo/INBS , and on which we are now as a state paying €3.1b per annum (or about 5 weeks tax take).

    I have written about the mechanics of these odious scraps here.

    What nobody can answer, in specific action terms, is what would happen if we did. All I ever get, even from market participants, is a statement along the lines of “ooh,that would be bad, sure the ECB now, you dont want to mess with them, theyd react so they would”.

    Well, they would. But how? The implication is that the ECB reaction would be devestating, and worse for the economy than burning 5 weeks tax take in a bonfire of idiocy each march. What would that be? Invasion? Cutting off irish banks, good and bad, from liquidity? What actions, and how would they be done?

    If, as I suspect, there are few if any actual actions the ECB can or would take, then it begs the question why not do this? One imagines the other members of the Troika would heave a sigh of relief at the issue being settled, and the remaining real national debt being secured from default (probably).

    So, what can/would the ECB do if we walked from the notes? No vages threats, no tut-tuting, no pursing of lips and shaking of heads. Actual actions that they can take… please. I mean, there must be some…mustnt there?
    The only direct reaction from the ECB that I can think of, is that they withdraw the 100bn funding provided directly to the Irish banks. Whether or not they would do it , is a another question. Would the ECB risk the impact on the rest of the EZ? It would be hard to see that they would but which Irish politician of any party is going to stand up and be counted?
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  4. #94
    jman0war jman0war is offline

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    Jun 2008

    It's bigger than the ECB.
    There was a Wizard of OZ moment during the bailout talks with the IMF, Timothy Geither torpedoed the idea of not paying bondholders.
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