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  1. #511
    ibis ibis is offline

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    Quote Originally Posted by Taxi Driver View Post
    Is anyone going to answer this question?

    If it was your money do you want Option 1 or Option 2?
    I'll have Option 1 please, Bob, unless I'm paying you, in which case I'll have Option 2.
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  2. #512
    SPN SPN is offline

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    Quote Originally Posted by diaspora-mick View Post
    The weird thing - which I don't quite understand - is that the figures published here (apparently sourced from Eurostat) indicate that France, Italy and Greece have not incurred any "costs" as a result of the financial crisis ... they have actually posted "positive" results ...

    As I say I can't quite work out how that could be (especially in the case of Greece) ....
    This is another piece of fiction by Michael Taft.

    Or is it satire?
    Last edited by SPN; 17th January 2013 at 05:58 PM. Reason: typo
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  3. #513
    Volatire Volatire is offline
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    This is a superb historical perspective on the so-called "negotiations" with ecb & merkel on legacy debt.

    Irish debt negotiations resonate across the ages « NAMA Wine Lake

    In the end the 1925 boundary commission negotiations went precisely nowhere, even though the then Irish government had raised expectations among the general public. Inexperienced Irish negotiators were completely outclassed by the more skillful British. The public was given no explanation of the failure.

    A failure to deal properly with legacy bank debt will damage this country for a generation. We simply cannot afford failure.

    In my opinion these debt negotiations should be done on our behalf by people from Morgan Stanley or Goldman Sachs. These are the type of guys who are not afraid to say that phuckwit German bankers bear a greater share of the blame than ordinary Irish citizens. Noonan, a school-teacher, can't say that with any credibility, even though any familiar with financial markets knows that it is the case.
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  4. #514
    SPN SPN is offline

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    Quote Originally Posted by Volatire View Post
    phuckwit German bankers bear a greater share of the blame than ordinary Irish citizens.
    Nope.

    Irish Citizens voted for the Councillors who did the rezonings that provided the collateral for the banks to borrow stupid amounts of money on stupid terms under a lax regulation regime overseen by TDs who were also elected by Irish Citizens.

    The German bankers had phuk all to do with it.
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  5. #515
    P Ryan P Ryan is offline
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    Quote Originally Posted by SPN View Post
    Nope.

    Irish Citizens voted for the Councillors who did the rezonings that provided the collateral for the banks to borrow stupid amounts of money on stupid terms under a lax regulation regime overseen by TDs who were also elected by Irish Citizens.

    The German bankers had phuk all to do with it.
    Well said.
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  6. #516
    YouKnowWhatIMeanLike YouKnowWhatIMeanLike is offline
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    Quote Originally Posted by Volatire View Post
    This is a superb historical perspective on the so-called "negotiations" with ecb & merkel on legacy debt.

    Irish debt negotiations resonate across the ages « NAMA Wine Lake

    In the end the 1925 boundary commission negotiations went precisely nowhere, even though the then Irish government had raised expectations among the general public. Inexperienced Irish negotiators were completely outclassed by the more skillful British. The public was given no explanation of the failure.

    A failure to deal properly with legacy bank debt will damage this country for a generation. We simply cannot afford failure.

    In my opinion these debt negotiations should be done on our behalf by people from Morgan Stanley or Goldman Sachs. These are the type of guys who are not afraid to say that phuckwit German bankers bear a greater share of the blame than ordinary Irish citizens. Noonan, a school-teacher, can't say that with any credibility, even though any familiar with financial markets knows that it is the case.
    @Volatire you know you are so full of FF ideas? Morgan Stanley, Goldman Sachs etc are the reason the country is where it is. you have learned nothing absolutely nothing, zéro, from the financial crises.
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  7. #517
    Volatire Volatire is offline
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    Quote Originally Posted by SPN View Post
    The German bankers had phuk all to do with it.
    Thanks, but we are all familiar with your traitorous anti-Irish lies by now.

    What we don't know is the extent of the damage wrecked across Europe by the crackpot risk appetites of the state-owned Landesbanken i.e. by the German banker geniuses that you worship so much and that your kids will be bailing out.

    the landesbanken were distracted by the lure of the “big league” on Wall Street and elsewhere
    ..
    This toxic mix of corruption and incompetence, not to mention a multibillion bill for the taxpayer, has forced the Bavarian state government to slim down radically the bank’s inflated operations.
    ..
    With WestLB all but gone, at least three landesbanken continue to limp on until pressure for change increases again. ..another shock could yet wake the German public to the astronomic cost accruing to the taxpayer of the supposedly locally focused landesbanken
    ..
    Down south, meanwhile, eight former executives from Bavaria’s Landesbank Bayern LB are facing charges of corruption in a trial that exemplified how an incompetent state-owned bank very expensively lost its way.
    These phuckwits thought they were Goldman Sachs and were all over the Irish market.

    Germany not immune to bank fiasco - The Irish Times - Fri, Jun 29, 2012
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  8. #518
    MrFunkyBoogaloo MrFunkyBoogaloo is offline

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    Quote Originally Posted by Taxi Driver View Post
    Assume for some reason I owe you €30,000 at 2.5% interest. I offer you two repayment schedules with all payments made on the 31st of March each year.

    OPTION 1:
    2013: €3,100
    2014: €3,100
    2015: €3,100
    2016: €3,100
    2017: €3,100
    2018: €3,100
    2019: €3,100
    2020: €3,100
    2021: €3,100
    2022: €3,100
    2023: €3,100
    2024: €3,100
    2035: €664

    OPTION 2:
    2013: €750
    2014: €750
    2015: €750
    2016: €750
    2017: €750
    2018: €750
    2019: €750
    2020: €750
    2021: €750
    2022: €750
    2023: €750
    2024: €750
    2025: €750
    2026: €750
    2027: €750
    2028: €750
    2029: €750
    2030: €750
    2031: €750
    2032: €750
    2033: €750
    2034: €750
    2035: €750
    2036: €750
    2037: €750
    2038: €750
    2039: €750
    2040: €750
    2041: €750
    2042: €750
    2043: €750
    2044: €750
    2045: €750
    2046: €750
    2047: €750
    2048: €750
    2049: €750
    2050: €750
    2051: €750
    2052: €30,750

    Which repayment reschedule do you want? Option 1 or Option 2?

    Are you're using this limited option to somehow compare the situation we find ourselves in vis-a-vis the Promissory Notes?

    Because if you are then it falls very short of accurate.
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  9. #519
    ibis ibis is offline

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    Quote Originally Posted by Volatire View Post
    Thanks, but we are all familiar with your traitorous anti-Irish lies by now.

    What we don't know is the extent of the damage wrecked across Europe by the crackpot risk appetites of the state-owned Landesbanken i.e. by the German banker geniuses that you worship so much and that your kids will be bailing out.



    These phuckwits thought they were Goldman Sachs and were all over the Irish market.

    Germany not immune to bank fiasco - The Irish Times - Fri, Jun 29, 2012
    All over the Irish market? Where? The Central Bank records which banks have dealings in the Irish market, and the Landesbanken aren't there. The only thing that connects Ireland to the Landesbanken is the IFSC, and once again the dodgy behaviour of their Dublin-based subsidiaries:

    First up was Saxony’s SachsenLB, which almost collapsed because of speculative positions taken by its Dublin-based subsidiary before being swallowed by the LBBW Landesbank, based in Stuttgart.
    All you're doing is constantly strengthening the case for other countries to come looking for Ireland to pay back their bank bailouts, which almost invariably seem to have a trail pointing back to the IFSC.
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  10. #520
    Volatire Volatire is offline
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    Quote Originally Posted by ibis View Post
    All over the Irish market? Where? The Central Bank records which banks have dealings in the Irish market, and the Landesbanken aren't there. The only thing that connects Ireland to the Landesbanken is the IFSC, and once again the dodgy behaviour of their Dublin-based subsidiaries:



    All you're doing is constantly strengthening the case for other countries to come looking for Ireland to pay back their bank bailouts, which almost invariably seem to have a trail pointing back to the IFSC.
    Ah, Herr Ibis has come to explain to us that it's really all the fault of anglo-saxon capitalists and nasty international jewish financiers of the IFSC. So nothing to do with the nice German bankers? Thank you, Herr Ibis.

    The crackpots running the Landesbanken had access to large amounts of cheap money. They splashed it around the debt markets and were into every conceivable risky trade, especially the ones they didn't understand.

    These dumpkopfen were drawn to Irish debt like flies to dung. Without reckless international lenders, the Dublin property bubble could not have been inflated.

    Of course, it was right that the Irish windows and orphans paid for the nice German bankers losses. Isn't it so Herr Ibis?
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