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Thread: German finance minister in Dublin, repeats that a debt deal is a go but pushes us for a plan

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    Politics.ie Member Sync's Avatar
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    Default German finance minister in Dublin, repeats that a debt deal is a go but pushes us for a plan

    God this is boring at this point: Pressure on Noonan to devise 'unique' debt plan - National News - Independent.ie

    THE Government has been told it will get a one-off bank debt deal -- but has to come up with a way to show our case is unique in the EU.

    Hardline German Finance Minister Wolfgang Schaeuble signalled his government was positively disposed towards Ireland getting relief on our crippling debt burden.

    But the Government, and particularly Finance Minister Michael Noonan, has to devise a way to get the money so that other countries can't use our case as a precedent.

    The economy got another major vote of confidence when Mr Schaeuble insisted the country won't need a second bailout -- and will get a bank debt deal.
    Now that's reasonable enough tbh. We're the one asking for the variance, we're the one that should come up with the supporting, documented plan. Except....this is EU politics involving Ireland's politicians. Are we really able to come up with a comprehensive business plan that takes into account financial impact, implications of creating a possible precedent and the legal/constitutional ramifications of this? Have we ever come up with something like this in the past?

    Or will we just keep people shuttling over to Germany and back to hear nice things?

    The man in question stated:

    "We know it's a very specific situation in Ireland, Ireland is a special case, the Eurogroup will continue to take this into account.

    On the other hand, we agree we have to avoid any announcement which could be misunderstood in a way that everyone in the world is thinking the actual programme for Ireland does not work well, because it works well, and that is the most important thing. I am totally confident that Ireland is on track.

    The country, despite facing great adversity, continues to make progress on fiscal reform, and is increasingly getting recognition as a model for other countries."
    Time to go out of house to get this done. Hire a third party in (I know people won't like it, but we're talking about one of the big 4 most likely) to put a comprehensive plan together which will A: Give the Germans the cover they evidently want to give us the deal while B: Provide cover against other countries citing us as precedent.
    I'm living in America, and in America, you're on your own. America's not a country. It's just a business. Now f***ing pay me.

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    Politics.ie Member Clanrickard's Avatar
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    If legacy debt is a national problem why don't Schoolteacher Noonan and Schoolteacher Kenny not just say that we will with it as we see fit. Schauble can't have it every way dictating to Ireland what we can and cannot do and then saying it is a national issue.

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    Politics.ie Member tigerben's Avatar
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    It looks like some creative accountant has to come up with a plan, but seen as the department of finance statements, and fantasy budgeting, and failure to see or do anything to dampen spending during the boom , I'm sure they can come up with a fairy tale story that no other country could believe.

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    I`had a slight problem about this German buckeen landing in on our October Bank Holiday weekend, when we usually let our hair down a bit. Then I called to mind that we`re not too slow at imposing our own National Holiday on anyone that`ll have us.
    So, memo to self; Stop digging.

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    Quote Originally Posted by Clanrickard View Post
    If legacy debt is a national problem why don't Schoolteacher Noonan and Schoolteacher Kenny not just say that we will with it as we see fit. Schauble can't have it every way dictating to Ireland what we can and cannot do and then saying it is a national issue.
    It iz ein issue vor Germany, ven ze Irish can not afford to buy ze German goods!
    Heaven and Earth Meet in the Human Heart!

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    Politics.ie Member Volatire's Avatar
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    Quote Originally Posted by Sync View Post
    Time to go out of house to get this done. Hire a third party in (I know people won't like it, but we're talking about one of the big 4 most likely) to put a comprehensive plan together which will A: Give the Germans the cover they evidently want to give us the deal while B: Provide cover against other countries citing us as precedent.
    The notion that ex-school teachers and semi-literates financiers from DoF are the best people to close this deal is a sick joke on the Irish people. Goldman Sachs should be hired to conduct the renegotiation of the bank legacy debt on our behalf. They can be offered a % of the real NPV gain to the Irish taxpayer of the deal ( e.g. 2%). Many of the main players in European finance are ex-GS. They are listened to and respected where it counts.

    We need the best financial deal that can possibly be extracted from europe. Kenny and Noonan's diplomacy has created a window of opportunity to achieve real financial gain for Ireland. It is now time for them to step back, forget about vanity and face-saving non-sense and do something of tangible benefit for their country.

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    Politics.ie Member SilverSpurs's Avatar
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    Quote Originally Posted by Sync View Post
    God this is boring at this point: Pressure on Noonan to devise 'unique' debt plan - National News - Independent.ie



    Now that's reasonable enough tbh. We're the one asking for the variance, we're the one that should come up with the supporting, documented plan. Except....this is EU politics involving Ireland's politicians. Are we really able to come up with a comprehensive business plan that takes into account financial impact, implications of creating a possible precedent and the legal/constitutional ramifications of this? Have we ever come up with something like this in the past?

    Or will we just keep people shuttling over to Germany and back to hear nice things?

    The man in question stated:



    Time to go out of house to get this done. Hire a third party in (I know people won't like it, but we're talking about one of the big 4 most likely) to put a comprehensive plan together which will A: Give the Germans the cover they evidently want to give us the deal while B: Provide cover against other countries citing us as precedent.
    Same old trickery. The nightmare scenario is initially floated so when the bad deal arrives people will be "relieved as it could have been so much worse".

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    Politics.ie Member statsman's Avatar
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    Quote Originally Posted by Sync View Post
    God this is boring at this point: Pressure on Noonan to devise 'unique' debt plan - National News - Independent.ie



    Now that's reasonable enough tbh. We're the one asking for the variance, we're the one that should come up with the supporting, documented plan. Except....this is EU politics involving Ireland's politicians. Are we really able to come up with a comprehensive business plan that takes into account financial impact, implications of creating a possible precedent and the legal/constitutional ramifications of this? Have we ever come up with something like this in the past?

    Or will we just keep people shuttling over to Germany and back to hear nice things?

    The man in question stated:



    Time to go out of house to get this done. Hire a third party in (I know people won't like it, but we're talking about one of the big 4 most likely) to put a comprehensive plan together which will A: Give the Germans the cover they evidently want to give us the deal while B: Provide cover against other countries citing us as precedent.
    Sounds like a job for the Troika to me.
    Put a thief among honest men and they will eventually relieve him of his watch. Flann O'Brien

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    Politics.ie Member Eoin Coir's Avatar
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    just saw some figures foreign banks lent us from about 1999 - 2008, shocked me. Belgium 87 billion, France 75.8 billion, Germany 154 billion. Where did it all go, el Celtica Tigra. Who is to blame ?

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    Politics.ie Member Prester Jim's Avatar
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    Quote Originally Posted by Clanrickard View Post
    If legacy debt is a national problem why don't Schoolteacher Noonan and Schoolteacher Kenny not just say that we will with it as we see fit. Schauble can't have it every way dictating to Ireland what we can and cannot do and then saying it is a national issue.
    As stated multiple times previously, they haven't taught for decades, are now career politicians and have been for decades and our previous bunch of lawyers and accountants and accounts clerks got us into this Effing mess, the current "schoolteachers" are doing their best in truly sh1tty circumstances to get us out of it.
    What profession do you think should be running the state?
    Personally I think that previous profession is an irrelevance, we should choose based on ability as a politician and leader with a special consideration to judgment and ability to find trusted experts, but hey what do I know? I am only an anonymous poster like yourself.

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