Draft of the Troika Agreement - bad news for Ireland

[SKELLY]

Bloomberg obtained a copy of the draft agreement Greece has negotiated with the International Monetary Fund, European Union, and European Central Bank. As far as we can tell, this so-called troika won all their battles.

Here are a few of the major points from the draft (via BBG terminal headlines):

• Greece's 2012 GDP will shrink by as much as 5%.
• Greece is expected to return to growth in 2013.
• Greece will cut 15,000 in state jobs in 2012.
• Minimum wage will be cut by 20 percent.
• There will be no increase to sales tax.
• The government will cut medicine spending will fall from 1.9% to 1.5% and merge all auxiliary pension funds.
• It will also sell stakes in six companies—in particular, energy companies and refineries.

Read more: FINALLY: A Draft Of The Greek Agreement With The Troika Is Out

So Ireland has agreed to everything so far and look were thats gotten us.
I cant see us getting any concessions on our debt.
This agreement if true is very bad news for Ireland!

[corelli]

It's not an agreement with Ireland. We have our own one. Your point being?

[johnfás]

You're simply seeing what the reality of a default looks like.

[MacBeth]

It's not an agreement with Ireland. We have our own one. Your point being?

It's an indication of how the troika will squeeze our balls come 2014.

[poolfan81]

It's not an agreement with Ireland. We have our own one. Your point being?

Would have thought it was pretty obvious that if greece managed to get a write down in debt from the ECB, that this would have benefits for Ireland

[drummed]

It's an indication of how the troika will squeeze our balls come 2014.

And not for the first i request a copy of your alternative plan.
And suggesting we shoot all politicians (your reponse last time) won't cut it.
Nobody needs a moaner who has no better solution.

[MacBeth]

And not for the first i request a copy of your alternative plan.
And suggesting we shoot all politicians (your reponse last time) won't cut it.
Nobody needs a moaner who has no better solution.

Don't pay the private debts of the banks. Leave the euro and the EU. Return economic and political sovereignty. Better attempt a big bang on our own terms than suffer from death by a 1000 cuts.

[drummed]

Don't pay the private debts of the banks. Leave the euro and the EU. Return economic and political sovereignty. Better attempt a big bang on our own terms than suffer from death by a 1000 cuts.

Leave the EU? So you just want all the multinationals to leave?
Where do you plan we sell our stuff to?
You want to give fg/labour complete power?

[wombat]

Better attempt a big bang on our own terms than suffer from death by a 1000 cuts.

Another one who will defend your rights to the last drop of your blood. The Big Bang will be paid for by those dependent on the state for their livelihoods, not by internet warriors.

[SKELLY]

It's not an agreement with Ireland. We have our own one. Your point being?

Greece are staring at staggering levels of austerity despite all the political and societal upheaval.

Ireland on the other hand will be easy pickings as we've been good boys.