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  1. #231
    MrFunkyZombaloo MrFunkyZombaloo is offline

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    Quote Originally Posted by statsman View Post
    Euro still accepted for my coffee today.

    Ooops, sorry; wrong thread.
    Aye. All the nuts are over in t'other thread.
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  2. #232
    Socratus O' Pericles Socratus O' Pericles is offline
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    Quote Originally Posted by statsman View Post
    Euro still accepted for my coffee today.

    Ooops, sorry; wrong thread.
    Same here and I had a raspberry and white chocolate muffin as well!
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  3. #233
    sport02 sport02 is offline
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    Quote Originally Posted by MrFunkyZombaloo View Post
    That's riight Butty. The way out of a debt spiral is ever more debt.

    Debt spiral could push Portugal into new bail-out, admits EU-IMF - Telegraph
    Perhaps it may need a second bailout, perhaps it won't but selling ten year paper for the first time since bailout will be seen as a confidence booster. We have done similar. Edge your way back to normal borrowing.
    Last edited by sport02; 6th May 2013 at 11:38 PM.
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  4. #234
    MrFunkyZombaloo MrFunkyZombaloo is offline

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    Quote Originally Posted by sport02 View Post
    Perhaps it may need a second bailout, perhaps it won't but selling ten year paper for the first time since bailoutnwill be seen as a confidence booster. We have done similar. Edge your way to normal borrowing.
    I agree that is, as in Ireland, how the Portuguese government will spin it. Governments lie, numbers don't.

    It is my opinion that you cannot "edge your way to normal borrowing" (or economic success for that matter) by continually increasing debt. You achieve that through growth and debt-reduction.
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  5. #235
    Dublin 4 Dublin 4 is offline
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    Don't feed the troll Funk.

    We heard what Fontaine said Today - instability is clearly growing.
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  6. #236
    Dublin 4 Dublin 4 is offline
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    More normality...

    Today’s European purchasing managers indexes (PMIs) suggested the euro zone is on course for a worse downturn in the current quarter, with Germany now suffering a contraction in business activity that has long dogged France, Italy and Spain.


    Eurozone growth slump drags on - World Economy News | Latest Trends & Markets | The Irish Times
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  7. #237
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  8. #238
    Ulster-Lad Ulster-Lad is offline
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    One would expect things to start looking up for them. Lets see. ECB lowers interest rates they raise them. Increase variable mortgage charges to make up for losses incurred through the economy and trackers. Is that about right?
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  9. #239
    Dublin 4 Dublin 4 is offline
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    Quote Originally Posted by Socratus O' Pericles View Post
    this news slightly spoils the narrative.
    A poor effort to spoil - a very, very poor effort...

    More than 1,000 staff have left under a voluntary scheme, including early retirement, with another 700 to go by the end of December.


    AIB expects to hit target of 2,500 lay-offs by 2014 - Independent.ie

    • 25% of Ireland’s home loans are distressed (S&P)

    • 11.9% of Ireland’s mortgages late by more than 90 days (Irish Central Bank)

    • Deutsche Bank believes its closer to 16%

    • 35% of mortgage arrears are “strategic non payments” (Gregory Connor, Maynooth University)


    The Most Insane Chart Ever: Irish Mortgage Arrears | The Big Picture
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  10. #240
    Dublin 4 Dublin 4 is offline
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    Very, very poor effort indeed...

    Overall losses for 2012 rose to €3.6 billion, from €2.3 billion a year earlier.


    AIB records full year loss of €3,600,000,000
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