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About LinkBacksAnd remember, when you hear it (and you will be hearing it), that 'austerity' is a polite term for poverty.
And remember, when you hear it (and you will be hearing it), that 'austerity' is a polite term for poverty.
'Climate-Gate' Scandal Should Be Wake-Up Call For Press, Politicians
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And when the politicians decide to bail Greece out, where will the money come from? The same place as the NAMA bailout money - the ECB.Originally Posted by Clanrickard
We have turned the corner.I commend this Budget to the House. Brian Lenihan, 9 December 2009
When I (and others) made the point prior to Lisbon that fiscal union was the next logical step, that noises towards CCCTB would be happening almost as soon as the ink was dry on Ireland's ratification, I was essentially called a liar by a number of posters here (mostly FGers, for some reason). When I said that it was openly spoken about in political and media forums on the continent, there were actually people telling me I was wrong, that it wasn't. It WILL happen. Yes, we have the 'sovereign right' to say 'no'. But the political reality and the mother of all guilt-trips (as we saw at both Lisbon and Nice when we dared to vote the 'wrong' way) will ensure that we will do as we're told.
As to Merkel, nice to see Germany cracking the whip again. Let's hope they keep it metaphorical....
No it will be loans from the countries in better economic condition. The ECB cannot bail out a country. The ECB is independent of the commission and governments. They cannot tell it what to do.
It is hypocritical for feminists and intellectuals to enjoy the pleasures and conveniences of capitalism while sneering at it.-Camille Paglia
Except that we couldn't, as we never have, or never had, the resources in cold hard cash with which to manipulate it.
No-one in Paris or Berlin is proposing that. What's being proposed is that countries at least TRY and stay within the agreed fiscal guidelines.Maybe so but that is vastly different for the one economic government proposed by the euroloonies in Paris and Berlin where is micromanagement and a one size fits all approach.
And how would we repay the couple of hundred billion in personal debt, all denominated in Euro? Rock claims that a 2-3% rise in interest rates would destroy us - leaving the Euro would be that multiplied many times over. Again, basic economics.I would suggest leaving the Euro. Other than that we'll just have to batten down the hatches.
"Elite - a small superior group; esp one that has a power out of proportion to its size." (Oxford English Dictionary)
The majority cannot therefore be the elite.
It is not possible to kick a country out of the Euro. It's not like they can prevent a country continuing to use it.
What they could try is reducing the "lender of last resort" facility. For example, if you are outside the fiscal limits, your banks have to pay ECB rate + X%. Also, the could reduce the weight of the country when determining things like Euro inflation.
To be fair, it was also pointed out to you that noises towards CCCTB had been happening for a decade before Lisbon too. The noises were interrupted by Lisbon, on the basis that they formed no real part of the Lisbon debate, but could easily be misrepresented as doing so.
I'm not really sure what value can be placed on something being " openly spoken about in political and media forums on the continent", given that things are "openly spoken about in political and media forums in Ireland" which are not only politically unlikely but physically impossible.
Never let the best be the enemy of the good.
The ECB is bailing us out through the back door with NAMA.
All *cough cough* off balance sheet *cough cough* of course
We have turned the corner.I commend this Budget to the House. Brian Lenihan, 9 December 2009
Lisbon makes CCCTB no more or no less likely. Anyway, its not in our interest, so even if it does happen via Enhanced Cooperation, we won't be joining it. And thus it won't affect us (unless you live in FutureTaoiseach's world, were a tax on profits can be redefined as a tax on sales).
No, given that it can happen without us, we don't have to say Yes or No. And if we don't want to get involved, then we don't have to - nor does our lack of involvement delay any such eventuality.When I said that it was openly spoken about in political and media forums on the continent, there were actually people telling me I was wrong, that it wasn't. It WILL happen. Yes, we have the 'sovereign right' to say 'no'. But the political reality and the mother of all guilt-trips (as we saw at both Lisbon and Nice when we dared to vote the 'wrong' way) will ensure that we will do as we're told.
The Germans are ponying up the cash. As such, like all lenders, they set the terms for lending and repayment. Think about it - if YOU were lending to a basket case like Greece, wouldn't you demand certain guarantees to secure repayment? Or would you just say "ah, here's a few billion, but sure there's no rush to pay it back - and whatever you do, don't make things awkward for yourself politically as a result"?As to Merkel, nice to see Germany cracking the whip again. Let's hope they keep it metaphorical....
"Elite - a small superior group; esp one that has a power out of proportion to its size." (Oxford English Dictionary)
The majority cannot therefore be the elite.
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