How big a cheque can the IMF write for Ireland Inc?

[feargach]

I have already registered my skepticism about the entire IMF question.

The IMF has responsibilities to every nation on Earth bar Cuba and North Korea.

Quite simply, they don't have nearly enough money to make a small dent the world's problems, let alone solve them.

The world's problems, at a very conservative estimate, will need at least $3 trillion to solve. The IMF does not have this much. I don't think it has half this much, I think it may not have a quarter as much.

Now let us look at Ireland's problem. Assuming the IMF is dead wrong and the government is spot-on about the costs of fixing things, that is still far more money than the IMF can easily justify giving to Ireland.

China and India will throw an extreme wobbly if Ireland gets a loan of $10 billion. That will be an exceedingly hard sell within the IMF.

[odie1kanobe]

Why would they seek IMF funding if they can get it on the markets ?

[Cael]

I wish people would drop that "Ireland Inc." bullsh1t.

[feargach]

This thread is addressed to those who DO think the IMF will be giving large loans to Ireland (over €10 billion) with or without strings attached. If you're not of that opinion then the thread is hardly in serious conflict with your views.

[feargach]

From the IMF website:

Fast Facts on IMF Lending
(as of August 28, 2008)
Loanable funds $201.0 billion

[toxic avenger]

http://www.politics.ie/chat/56047-de...orporated.html

[garlandgreen]

I think it more likely that it would be the EU we would be going hand in cap to

[slumdog1971]

We won't be going to anyone with a cap in hand.

I wish people would get a grip of themselves. We are in a crisis but pull up before you sign our death warrants.

Ireland is adapting to this crisis extremely quickly. Our costs a re coming down at an extraordinary rate. We are positioning ourselves extremely smartly.

Our economy is still an export led economy. We will benefit first before lots of other coutries.

We have a crisis in our public finances. It will be fixed over the next three years. Numbers will come down in the PS. Wages will stagnate there for at least five years and I can gaurantee you that in twently five years will be facing the exact same process all over again.

Fianna Fail and in particular Brian Lenihan is doing an extremely good job. If we could get him into the Labour ranks we would win an overall majoirity in the next election. He is doing his best to manage the disaster the Banks have left us. He is managing public opinion briliantly. He is standing up to the Unions (Pension Levy) and I gaurantee you he will bring order to our Public Finances.

If we could only get some control on our interest rates we would already be out of this mess. Our rates need to get real low. We have too much debt and we need to pay it off quickly. Our rates need to keep dropping. This with the policy of reducing costs would speed up the repair.

Fianna Fail has rail roaded us in this mess but there are people in Fianna Fail who will get us out it. If we could cherry pick people from Fianna Fail and parachute them into Labour the whole country would be saved.

If Brian Lenihan, and by Brian Lenihan I really mean Alan Aherne, can stick the course and continue with these policies he and he alone will save this economy and with it, this state.

[youngdan]

[QUOTE=slumdog1971;1591771]

If we could only get some control on our interest rates we would already be out of this mess. /QUOTE]

And therein lies your lack of understanding

[ballot stuffer]

[quote=youngdan;1592350]

If we could only get some control on our interest rates we would already be out of this mess. /QUOTE]

And therein lies your lack of understanding

Agreed. The answer to our precarious financial situation is not another problem in the form of a basketcase currency.