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Thread: What is "the deal" and what would it mean?

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    Politics.ie Member Disillusioned democrat's Avatar
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    Default What is "the deal" and what would it mean?

    Okay - so "the deal" may or may not be back on, but what is "the deal" and what difference is it really likely to make?

    Ireland is carrying 64bn of debt that it wouldn't be if both our own and the ECB's financial regulators were doing their jobs AND we're running a current deficit because, even with interest and repayments excluded, we're spending more money on our government, its employees and its beneficiaries than they're able to squeeze out of the tax payers.

    Are we fooling ourselves that somehow this "deal" will make everything okay again and avoiding the reality that, deal or no deal, we still need very radical reforms. Based on a best case scenario - does anyone have any opinions on what the deal will do for Irish tax payers?
    The more things change....

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    It will make our balance sheet look more sane to international investors , hence allow us to return to the markets and hopefully avoid another bailout. Will allow govt to force banks to start targetting negative equity etc. in debt forgiveness measures , allow government to force banks to lend to small business....thus generating liquidity, thus stimulating economic growth, thus increasing revenue and thus closing the budget deficit in a healthier way than the slash- burn- die -kill -austerity madness that we currently face.

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    The 'deal' is confirmation of what we alrady knew- we are an official(basket) case.And we're so fooked that's meant to be good news.

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    Politics.ie Member Disillusioned democrat's Avatar
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    Quote Originally Posted by Bonsai Experiment View Post
    It will make our balance sheet look more sane to international investors , hence allow us to return to the markets and hopefully avoid another bailout. Will allow govt to force banks to start targetting negative equity etc. in debt forgiveness measures , allow government to force banks to lend to small business....thus generating liquidity, thus stimulating economic growth, thus increasing revenue and thus closing the budget deficit in a healthier way than the slash- burn- die -kill -austerity madness that we currently face.
    Am I correct in thinking that it will do very little really to address the elephant in the room, that we're a 2nd world country with 1st world government, public service and social welfare?
    The more things change....

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    Politics.ie Member Clanrickard's Avatar
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    Quote Originally Posted by Disillusioned democrat View Post
    Am I correct in thinking that it will do very little really to address the elephant in the room, that we're a 2nd world country with 1st world government, public service and social welfare?
    You mean our inflated social welfare payments and bloated public sector salaries? Correct. Deep cuts to be implemented no matter what is secured in the "deal".

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    Quote Originally Posted by Disillusioned democrat View Post
    Am I correct in thinking that it will do very little really to address the elephant in the room, that we're a 2nd world country with 1st world government, public service and social welfare?
    That's about the height of it.

    Any deal, if there is one, will be about the repayments, not the capital, so its impact will be minimal.

    Anyone who thinks there will be a debt write down should put themselves in the shoes of a German taxpayer.

    Would you like your taxes to go to pay off loans that were used in another country to great the most generous social welfare system in Europe and the highest paid civil servants?
    A demagogue is someone who will preach doctrines he knows to be untrue to men he knows to be idiots.

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    The deal will be a long term bond on the PN and nothing more.

    The rest will be saddled on the taxpayer to teach us a lesson and keep us down. Like a war off attrition ze germans will sing a song and ultimatly our corp tax will be on the table.

    Watch and see as we move towards the second bailout, federalised budgets, CCTB etc.

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    The deal is this.

    We pretend that Angela Merkel has offered us lots of money and

    Angela Merkel won't tell us to STFU in public,

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    Politics.ie Member Goa Tse's Avatar
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    There is no "deal" and it means sweet fuck all. Sorry to be the one who p1sses in everyone's Cornflakes, but at least I'm not deulding myself like the europhiles, govt shills and others that populate this joke of a site.

    It's all hot air and idle speculation. Having said that, why would the Germans change anything, seeing as the govt is so willing to screw us to appease them?

    All that matters is we (and Greece, Spain et al), but especially us, manipulated by our servile govt & media to the point of Stockholm Syndrome, continue to be economic cannon fodder to take the flak to safeguard both the sacred cow single currency the €uro, and the German economy.

    That's all.
    Last edited by Goa Tse; 22nd October 2012 at 02:56 PM.
    'I am not gay, although I wish I were, just to piss off homophobes.' - Kurt Cobain

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    Politics.ie Member Disillusioned democrat's Avatar
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    Quote Originally Posted by goosebump View Post
    That's about the height of it.

    Any deal, if there is one, will be about the repayments, not the capital, so its impact will be minimal.

    Anyone who thinks there will be a debt write down should put themselves in the shoes of a German taxpayer.

    Would you like your taxes to go to pay off loans that were used in another country to great the most generous social welfare system in Europe and the highest paid civil servants?
    Are our leaders are being somewhat disingenuous focussing on the “big deal” when really it will mean nothing for 75% of the population and merely enable the direct beneficiaries of even more cheap money – today’s recipients of many tomorrows’ money – live on as if the bubble hadn’t burst?
    Are they being purposefully misleading and lazy or do many politicians believe that the cheap long term money will allow the private sector get back to being able to fund the kind of auction politics they rely on for success?
    The more things change....

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