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Thread: Even with ECB help, Ireland has a Failed Bond Auction

  1. #1

    Default Even with ECB help, Ireland has a Failed Bond Auction

    The government has just announced that Bond auctions are cancelled indefinitely.

    This is another failed Bond Auction. This country is bankrupt and the people at the helm are drunken stupid sailors. What shall we do with them early in the morning as the song goes?

    Fine Gael's Finance Spokesman Michael Noonan said the Government's decision to cancel next month's bond auction was because 'our sovereign trade worthiness was gone'.
    “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

  2. #2
    Politics.ie Member ballot stuffer's Avatar
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    We are raiding our pension fund instead. Somehow this isn't worthy of attention or ire from our media.
    Sow the wind, reap the whirlwind.

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    Politics.ie Member kerdasi amaq's Avatar
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    Fainna Fáil have got to go. For good.
    We have got as much as we are going to get out of Europe; it is, now, time to leave!
    EUROPA CONVENTUS DELENDA EST!...Whistle out the marching tune.....27

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    Politics.ie Member firefly123's Avatar
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    Quote Originally Posted by ballot stuffer View Post
    We are raiding our pension fund instead. Somehow this isn't worthy of attention or ire from our media.
    They would sell their grannies to stay in power. In fact in some ways they are actually selling off their grannies chances of a decent retirement and their grandkids chances of a decent life.

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    Quote Originally Posted by ballot stuffer View Post
    We are raiding our pension fund instead. Somehow this isn't worthy of attention or ire from our media.
    The NTMA has sufficient cash reserves to keep us going until the middle of next year without having to go back to the market. This is separate to the pension fund.

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    We're focked.

    My dad is due his final salary lump sum from the State next month. He's crapping himself at the mo.

  7. #7

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    Quote Originally Posted by ronsh2000 View Post
    The NTMA has sufficient cash reserves to keep us going until the middle of next year without having to go back to the market. This is separate to the pension fund.
    Do you know they have to rollover at least a billion Euro of debt per working day on average?
    “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 ballot stuffer's Avatar
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    Quote Originally Posted by ronsh2000 View Post
    The NTMA has sufficient cash reserves to keep us going until the middle of next year without having to go back to the market. This is separate to the pension fund.
    I'm referring to the national pension reserve fund which will be dipped into for AIB at the very least and probably Anglo.

    We would certainly be selling gilts to cover this otherwise.
    Sow the wind, reap the whirlwind.

  9. #9

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    Quote Originally Posted by firefighter View Post
    We're focked.

    My dad is due his final salary lump sum from the State next month. He's crapping himself at the mo.
    Sorry to hear that. Has he a pension fund?
    “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

  10. #10
    Politics.ie Member borntorum's Avatar
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    How does cancelling bond auctions = failing at bond auctions?

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