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About LinkBacksthere might some truth to thatOriginally Posted by seabhcan
there might some truth to that
"The individual is handicapped by coming face to face with a conspiracy so monstrous he cannot believe it exists.'' ~ J. Edgar Hoover
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From CNBC
Baccardax: The Wrong Irish Referendum - General * Europe * News * Story - CNBC.com"You can’t ignore the fact that Ireland’s not a currency issuer, and it can’t devalue the euro to “start-over” as many nations used to do in the past. Its efforts to reflate will increase borrowing -- and borrowing costs -- for years to come, potentially creating a debt trap where current service payments cannot be met but current GDP growth. Japan is facing down the barrel of that gun right, now. But it need not default on yen-denominated debt. It prints its own cash (or more accurately, credits the accounts of its own banks). Ireland can’t do this. Nor can Spain, Greece Italy or any other member of the single currency.
At present, Irish voters seem to be looking to the short-term support of the euro zone (or, more simply, German taxpayers) with an estimated 51 percent now in favor of supporting a treaty they rejected 8 months ago.
The longer-term implications of extracting an economy from the protracted crisis amid the shackles of the single currency seem too painful for the poets to contemplate at this point. But the more straight-forward prose seems to have turned the books ahead a few hundred pages to the final chapter.
And let’s face it, the bond market has been right on this sort of thing before."
It is the euro that hammered us. And now the eurofanatics want Germany to come in and buy up the country?
The Euro gave us boom and bust. We now can't devalue currency, so we must devalue wages.
Thanks the EUro, you're a star.
Underlines the need for public-sector unions to show restraint. This is no time to be throwing toys around the pram.
Who on P.ie has been showing their restraint in spewing their hatred and bile towards public sector workers?
When you see the words "Mises" or "Hayek" in someone's post, just ask yourself: do I really want to ban paper money and go back to gold?
You have to pity the kind of people who buy into conspiracy theories. I find the following to be the saddest words on the internet: "Re: connection between Bilderberg puppet lady gaga and viral outbreak in ukraine "
Having a goverment without the disipline and the analythical skills to manage the Euro and its consequences is closer to the mark.
Democracy requires people to play attention.
The Irish electorate went on a binge.
The goverment didn't do what it was elected to.
Govern.
Its only a chat, we ain't the world council.
In 2000 the Women's Institute in Britain gave Tony Blair the slow hand clap to demonstrate their contempt.
[COLOR="Red"]It was dignified, restrained and effective.[/COLOR]Doesn't Bertie deserve the same scorn. No shouting, no abuse, no agression just a relentless slow clap whenever he speaks in public would be enough to end that man's presidential fantasy.
-3.75,-3.23
Seabhcan. The sourses of revenue are drying up at a rate never before seen. Forget about the past unless you want to live in it. If your refusal to face reality is indicative of Labour party thinking then I hope there is no election. Scoff away.
When is Hiding a Posters Behind, he was the one that thought talk of default was drivel last week
Hi Guys,
I thought some of you anoracky Economist types would like to wade into this one from FX Street:
http://mediaserver.fxstreet.com/Repo...018a12b8d5.pdf
One of the Headlines in this report:
"Fears are mounting that Ireland could default on its soaring national dept pile,
amid continuing worries about its troubled banking sector, the Sunday Times reported
yesterday."
Go to page 3:
"On the European bond market, Irish bonds were among the hardest hit on rising doubts about the financial position of Ireland given the huge size of its troubled financial sector.
The assets held by its banks are around 10 times the size of its economy, which is
the highest ratio within the euro zone following Luxembourg. Last week, Ireland had
to inject €7B into its two biggest banks, which resulted in a sharp rise of the CDS on
Ireland to a new high of 340 basis points. Hence, despite its AAA rating, the CDS on
Ireland is the highest of all euro zone member states."
Loadsa Charts here too, including one of ( see end of page 3 ):
"CDS on Ireland (orange) and 10-year yield spread (black) surge
higher on rising concerns about the state of the public finances."
So we are the Highest in Europe and this time not for good reasons. i will leave it to you guru's to sift any other useful info from this report.
Came from here by the way: ECB's Stark warns for a crisis in public finances
Aidan
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