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Thread: Angela Merkel consigns Ireland, Portugal and Spain to their fate

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    Politics.ie Member TradCat's Avatar
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    Default Angela Merkel consigns Ireland, Portugal and Spain to their fate

    Interesting article in the Telegraph.

    Angela Merkel consigns Ireland, Portugal and Spain to their fate - Telegraph

    It may explain some of the panic we have seen at the weekend from Garret Fitzgerald and Colm McCarthy.

    If the markets are going to price our risk with no German safety net we are out of the game. So the budget will be savage as the political class try desperately to keep our membership of the eurozone viable. But for the Germans our departure might not be such a bad idea. It's going to be a rough couple of months.

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    Its an outrage !
    Germans should bail us out but we must remain independant .
    Simples !

    Seriosly though , its disgraceful how the markets are disrespecting our 'passiveness' .

    I mean ffs , are we not bending over backwards ?

    I'm beginning to think that their are people who really want to 'break' us .
    Last edited by TonyBird; 1st November 2010 at 09:33 AM.

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    Politics.ie Member FutureTaoiseach's Avatar
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    Quote Originally Posted by TradCat View Post
    Interesting article in the Telegraph.

    Angela Merkel consigns Ireland, Portugal and Spain to their fate - Telegraph

    It may explain some of the panic we have seen at the weekend from Garret Fitzgerald and Colm McCarthy.

    If the markets are going to price our risk with no German safety net we are out of the game. So the budget will be savage as the political class try desperately to keep our membership of the eurozone viable. But for the Germans our departure might not be such a bad idea. It's going to be a rough couple of months.
    The Brits, Danes and Swedes have been vindicated in their refusal to join the Euro given it has been such a catastrophe for us.

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    Politics.ie Member owedtojoy's Avatar
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    Quote Originally Posted by FutureTaoiseach View Post
    The Brits, Danes and Swedes have been vindicated in their refusal to join the Euro given it has been such a catastrophe for us.
    Be honest ... we ************************************ it up ourselves, and we continue to do so with this abysmal pack of idiots in office.

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    Politics.ie Member FutureTaoiseach's Avatar
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    Quote Originally Posted by owedtojoy View Post
    Be honest ... we ************************************ it up ourselves, and we continue to do so with this abysmal pack of idiots in office.
    We were doing fine before we joined the Euro in 1999. Inflation could not have taken off the way it did if interest-rates had remained where they were in 1998 when they were 10%. Am I calling for 10% interest rates in 2010? Of course not. I am calling for a return to setting interest rates at national level according to what the economy needs at any given time. If the problem were simply "ourselves" then why are the Spanish (20% unemployment), Portuguese and Greeks in the same or worse situation? I'm sorry but I don't buy the argument coming down from the Vichy-elites that argues the Irish cannot effectively govern ourselves.

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    Politics.ie Member Mister men's Avatar
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    Lisbon. Yes for jobs.

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    Politics.ie Member dresden8's Avatar
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    Why wouldn't she?

    The gambling German banks and pension funds have gotten their money back out of us.

    Now they can drop the pretence and tell us to fnck the fnck right off.

    Thanks Lenny.

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    Quote Originally Posted by FutureTaoiseach View Post
    We were doing fine before we joined the Euro in 1999. Inflation could not have taken off the way it did if interest-rates had remained where they were in 1998 when they were 10%. Am I calling for 10% interest rates in 2010? Of course not. I am calling for a return to setting interest rates at national level according to what the economy needs at any given time. If the problem were simply "ourselves" then why are the Spanish (20% unemployment), Portuguese and Greeks in the same or worse situation? I'm sorry but I don't buy the argument coming down from the Vichy-elites that argues the Irish cannot effectively govern ourselves.
    +1

    Joining the euro was a catastrophic decision by the Irish elites.

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    Politics.ie Member vanla sighs's Avatar
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    Lisbon. Yes for Recovery.

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    Politics.ie Member Thac0man's Avatar
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    Quote Originally Posted by TonyBird View Post

    I mean ffs , are we not bending over backwards ?

    I'm beginning to think that their are people who really want to 'break' us .
    No we are not. Our national finances are festooned with Golden Calves, state pensions, Quangos, public and political pay packets. Any EU paymaster looking at us does not see a ship sailing out of troubled waters, but a ship of greedy fools waiting for a tow. Does anyone really think that Merkal does not tap up the German ambassador to Ireland once in a while? The question shes asked is; has been any effort to get serious and break the golden circle of government and social partners and their deal to immunise each other from the effects of recession? The answer is always, no.

    Lets face it, the one way out of this recession and way to correct our economy is to lower our cost base. And the governments single biggest achievement to date thus far has been an agreement that makes that impossible. Anyone really think that has escaped the EUs notice?

    The only question there really is over this thread is whether Germany thinks we cannot recover, or will not?

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