Morgan Kelly: Ireland to contract by 20-25%, Unemployment 20%

[Simbo67]

Piling Anglo losses on to national debt risks bankrupting the State - The Irish Times - Tue, Jan 20, 2009

Dr Kelly of UCD has said in todays Irish Times that the nationalisation of Anglo Irish must be stopped at all costs. He has also said that the Irish economy will contract by 20-25% before this is over and unemployment will rise to 15% this year before rising to 20% next year. Only with the onset of mass emigration will the unemployment rate stop steady.

Kids, this is serious stuff. The nationalisation of Anglo Irish can not go ahead. The international markets are now betting against us. Anglo needs to go under and we need to concentrate on the "good" banks. The vote will likely be one of the most important a TD will ever make.

[Bobert]

How is the vote looking?

I believe FG and Labour are to vote against it, SF probably will as well. What about the indos and FF BBs?

[Factorem]

Piling Anglo losses on to national debt risks bankrupting the State - The Irish Times - Tue, Jan 20, 2009

Dr Kelly of UCD has said in todays Irish Times that the nationalisation of Anglo Irish must be stopped at all costs. He has also said that the Irish economy will contract by 20-25% before this is over and unemployment will rise to 15% this year before rising to 20% next year. Only with the onset of mass emigration will the unemployment rate stop steady.

Kids, this is serious stuff. The nationalisation of Anglo Irish can not go ahead. The international markets are now betting against us. Anglo needs to go under and we need to concentrate on the "good" banks. The vote will likely be one of the most important a TD will ever make.

TDs better start equipping the gardai with all the CS spray and tazers they need.

[Simbo67]

He is basically telling people to tell their tds to vote against this...
His revelation about Cowen going against the advice of his advisors is pretty damning too

[Factorem]

How is the vote looking?

I believe FG and Labour are to vote against it, SF probably will as well. What about the indos and FF BBs?

The party whip will have them all in line by tomorrow.

Of course the vote is going to pass.

The only way it won't, is if the Greens bring down government.

No FF TD is going to jeopardise his standing within the party by going against them in their hour of need. It's better to have a happy retirement from the inside, than a bitter one on the outside. Lots of FF dinners and race meetings (complete with the right coloured badges) for these back-benchers to look forward to.

They'd be mad not to get in line.

[Simbo67]

I can imagine that this article is going to create a bit of a firestorm, it articulates I think what a lot of us have been trying to figure out. If it gets significant play tomorrow in the media it may create some pressure.

[CookieMonster]

How is the vote looking?

I believe FG and Labour are to vote against it, SF probably will as well. What about the indos and FF BBs?

It'll pass. [COLOR="White"].......[/COLOR]

[Simbo67]

I am sure it will.

[kerrynorth]

This article explains Cowen's bizarre 'shut the feck up' statement this evening. The opposition have the ammunition now to go after and bring down the government tomorrow.

[Simbo67]

They must have heard that this article was coming out so they tried to get in the patriotic duty bit in first.