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Thread: IMF: Ireland, like Greece, has no choice but to do fairly dramatic things

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    Default IMF: Ireland, like Greece, has no choice but to do fairly dramatic things

    IMF turns its attention to Ireland during its Washington press conference, bracketing us with Greece.

    The International Monetary Fund has said that Ireland has no choice but to take strong and credible action to try to restore its finances. The comments came at a news conference in Washington ahead of meetings of the IMF and World Bank in the city on Friday.

    The Senior IMF Economist, Jorg Decressin, said the Irish economy was still struggling from the unwinding property boom and a banking crisis that was leading to market pressures on interest rates.

    He said the IMF supported the tough measures being taken by the Government.

    [...]

    IMF Chief Economist Olivier Blanchard added that countries such as Ireland and Greece have no choice than 'to do fairly dramatic things in as clear a manner as possible'.


    RT News: IMF says Ireland must take 'credible action'
    "It is difficult to get a man to understand something when his salary depends upon his not understanding it." - Upton Sinclair.

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    Politics.ie Member spidermom's Avatar
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    Unhappy

    Snap...just about to post this.
    Beginning to feel a pi**ed off at all this sage like advice coming at us....should we all wear sack cloth and ashes and bow down to their superior intelligence????

    ( YEAH...YEAH....I know its part of the 4 year strategy ain't it???)
    When a man sits with a pretty girl for an hour, it seems like a minute. But let him sit on a hot stove for a minute and it's longer than any hour. That's relativity.

    ALBERT EINSTEIN

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    Quote Originally Posted by spidermom View Post
    Snap...just about to post this.
    Beginning to feel a pi**ed off at all this sage like advice coming at us....should we all wear sack cloth and ashes and bow down to their superior intelligence????
    Only if we want to keep borrowing 20 billion a year. This is not their fault, this is our fault.

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    Politics.ie Member LongShanks's Avatar
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    Quote Originally Posted by hmmm View Post
    Only if we want to keep borrowing 20 billion a year. This is not their fault, this is our fault.
    This is FF's fault.
    "every saint and sinner in the history of our species lived there on a mote of dust suspended in a sunbeam. -Carl Sagan, Pale Blue Dot

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    Politics.ie Member sondagefaux's Avatar
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    Quote Originally Posted by LongShanks View Post
    This is FF's fault.
    And those who voted for FF, or donated to them, or both...

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    Quote Originally Posted by LongShanks View Post
    This is FF's fault.
    If only it was that simple.

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    Quote Originally Posted by LongShanks View Post
    This is FF's fault.
    Their fault that they let us keep too much of our own money, do you mean?

    But not our fault that we spent it and more besides.

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    Politics.ie Member cyberianpan's Avatar
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    The state is borrowing €20b per year to pay for high social welfare , high PS pay - and services we cannot afford

    Social Welfare should never have been increased during the boom/bubble years - as PS pay has long since been proven excessive - unjustified and unsustainable pay increases were given out in "benchmarking"

    The game is up, time to stop pretending money grows on trees

    cYp
    "Yawn , am I alive yet ?"

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    Politics.ie Member LongShanks's Avatar
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    Quote Originally Posted by tonic View Post
    Their fault that they let us keep too much of our own money, do you mean?

    But not our fault that we spent it and more besides.
    By "our own money" do you mean the billions we have to pay back that others borrowed.
    "every saint and sinner in the history of our species lived there on a mote of dust suspended in a sunbeam. -Carl Sagan, Pale Blue Dot

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    I wonder would the IMF consider telling all bondholders in Private Banks to go jump in a lake, tough action, or does pillaging from taxpayers to bailout said bondholders, qualify for what they consider, tough action.

    If Ireland jettisoned the bankrupt Banks and bondholders, it would not have a serious problem.

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