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Thread: IMF/ECB response to Ireland's deficit?

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    Default IMF/ECB response to Ireland's deficit?

    Considering the popular consensus is that it is only a matter of time before Ireland goes cap in hand to the IMF/ECB for a bail out, two questions.....

    1) When is Ireland likely to require the assistance of the IMF/ECB?

    2) How deep will the cuts be that the IMF/ECB impose on the public sector?
    Fianna Fáilure and the Irish Catholic Church are traitors

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    Politics.ie Member eoghanacht's Avatar
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    1) By the end of the first qtr of next year, Decembers budget (if not before that) and the reaction to it will tell.

    2)Hopefully from the top down! i mean the very top
    Britain operated death squads - ''97% of the Loyalists I interviewed were working directly for the State.'' - Nuala O'Loan. #FreeAhedTamimi

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    We're not going to do it on our own. Before we cut anymore we should go to the EU and clarify what we can draw down if necessary. Also the 3% deficit rule will not be attainable by 2014. If we push it out to 2020 we'd make life a lot easier, even 2017 would help. The markets know it's not achievable, the next government may be forced into negotiation with Angela and Nicolas if action man Cowen doesn't do it. We're living in a fantasy...

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    Politics.ie Member jpc's Avatar
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    Quote Originally Posted by the_rebubblican View Post
    We're not going to do it on our own. Before we cut anymore we should go to the EU and clarify what we can draw down if necessary. Also the 3% deficit rule will not be attainable by 2014. If we push it out to 2020 we'd make life a lot easier, even 2017 would help. The markets know it's not achievable, the next government may be forced into negotiation with Angela and Nicolas if action man Cowen doesn't do it. We're living in a fantasy...
    +1
    People are going to realise this sooner than they realise.
    Its only a chat, we ain't the world council.

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    Politics.ie Member eoghanacht's Avatar
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    Quote Originally Posted by jpc View Post
    +1
    People are going to realise this sooner than they realise.
    Is it possible to realise something before you realise it?
    Britain operated death squads - ''97% of the Loyalists I interviewed were working directly for the State.'' - Nuala O'Loan. #FreeAhedTamimi

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    Quote Originally Posted by the_rebubblican View Post
    We're not going to do it on our own. Before we cut anymore we should go to the EU and clarify what we can draw down if necessary. Also the 3% deficit rule will not be attainable by 2014. If we push it out to 2020 we'd make life a lot easier, even 2017 would help. The markets know it's not achievable,
    If we push it out to 2020, the deficit is so huge that it will squash us eventually with a huge burden of debt and interest repayments. How do you expect us to achieve it by 2017/2020 with such a huge deficit? That's pushing out the inevitable.

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    Quote Originally Posted by the_rebubblican View Post
    We're not going to do it on our own. Before we cut anymore we should go to the EU and clarify what we can draw down if necessary. Also the 3% deficit rule will not be attainable by 2014. If we push it out to 2020 we'd make life a lot easier, even 2017 would help. The markets know it's not achievable, the next government may be forced into negotiation with Angela and Nicolas if action man Cowen doesn't do it. We're living in a fantasy...
    Eh yeah and pushing out the reaching of 3% to 2020 means our useless politicians will borrow another €40bn or so in unnecessary additional debt that your children will still be repaying in 30 years time.

    We're living in a fanstasy world yeah, but the problem is that most of the people who disagree with the current fantastical lunacy of St Lendahand are also mad bug-eyed worshippers of the Magic Money Tree.

    Only a tiny tiny minority in Ireland are anywhere close to reality, as these various sects of a bizarre and discredited Belief squabble amongst themselves for dominance, and all the while the country accelerates towards the cliff.

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    I think the Feds are now finally out of ammo. With no more fresh liquidity, it will be interesting to see how the markets will react.

    Food and energy inflation is another issue.
    “The curious task of economics is to demonstrate to men how little they really know about what they imagine they can design.” - Friedrich A. Hayek

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    Politics.ie Member jpc's Avatar
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    Quote Originally Posted by eoghanacht View Post
    Is it possible to realise something before you realise it?
    Given the fantasy world that Ireland inc has existed in since 2002 would many have realised that they didn't realise there was a lack of reality around.
    Its only a chat, we ain't the world council.

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    Quote Originally Posted by jpc View Post
    Given the fantasy world that Ireland inc has existed in since 2002 would many have realised that they didn't realise there was a lack of reality around.
    I didn't realise then again it's all relative, that is to say there are known knowns, known unknowns and unknown unknowns
    Britain operated death squads - ''97% of the Loyalists I interviewed were working directly for the State.'' - Nuala O'Loan. #FreeAhedTamimi

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