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Thread: Deal to postpone repayment of €40 billion bailout for over a decade seems to be a certainty

  1. #1
    Politics.ie Member Sync's Avatar
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    Default Deal to postpone repayment of €40 billion bailout for over a decade seems to be a certainty

    Big progress for the Irish govt is expected today in their efforts to postpone debt repayments as finance ministers meet today to discuss approving it, with little opposition expected. The Indo are hopeful of a "deal" being announced today, but that would seem premature.

    A NEW deal on Ireland's multi-billion euro debt to the European Union could be struck as soon as today – reducing the pressure for harsh budgets in the years ahead.
    Ireland received a significant boost in its bid to seek an extension to the maturities of its bailout loans last night after finance ministers of the countries that share the euro currency backed the deal.

    EU commissioner for economic and monetary affairs Olli Rehn said he expected an arrangement to be concluded by next month’s meeting of finance ministers, which is scheduled to take place in Dublin.
    So basically it gets the blessing today from the ministers, the Troika then work out how to execute it (Depressing once again how our finance dept can't do this work) and then they sit down next month to officially vote it through. So the "deal" would be announced next month, the intention to deal may well be called out today.

    Importantly for FG (And Noonan's job), the mooted German opposition doesn't seem to be materialising.

    EU deal set to postpone our
    Boost for Ireland as eurogroup backs loan extension - The Irish Times - Tue, Mar 05, 2013
    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.

  2. #2

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    Is this the 'seismic change'?

  3. #3
    simeongrimes
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    This is huge. Game changer.

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    Politics.ie Member Ulster-Lad's Avatar
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    So he is conceding that there is No other deal or that he could not get one. He is hopeful though that he can kick the can to our grandchildren and their children maybe? Like this bit.....

    A NEW deal on Ireland's multi-billion euro debt to the European Union could be struck as soon as today – reducing the pressure for harsh budgets in the years ahead.
    ‘The Great only appear great because we are on our knees: Let Us Rise!’ “ (James Larkin)

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    Politics.ie Member ballot stuffer's Avatar
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    Wow. If true it is almost certainly four more years for Fine Gael.

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    Politics.ie Member Sync's Avatar
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    Quote Originally Posted by Ulster-Lad View Post
    Like this bit.....
    Dead right. This is not a new deal. The deal has not been done yet. Like all deals, it's done when all parties have signed the papers. That said, if the financial ministers from the EU countries agree in principle today then it's hard to see the Troika mucking things up between now and a month's time.
    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 Ulster-Lad's Avatar
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    Quote Originally Posted by Sync View Post
    Dead right. This is not a new deal. The deal has not been done yet. Like all deals, it's done when all parties have signed the papers. That said, if the financial ministers from the EU countries agree in principle today then it's hard to see the Troika mucking things up between now and a month's time.
    As I said, the "New Deal" is simply kicking the can down the road because there is no other deal. Wonderful
    ‘The Great only appear great because we are on our knees: Let Us Rise!’ “ (James Larkin)

  8. #8
    Dylan2010
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    Give paddy an inch and suddenly everyone wants easier budgets, hay how about some pay rises all round? this country still need to get down to ~3% deficit fast. The country is still spending like a drunken sailor (apologies to drunken sailors, at least they spend their own money)

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    Quote Originally Posted by ballot stuffer View Post
    Wow. If true it is almost certainly four more years for Fine Gael.
    ... the EU. Buying Irish elections since 1973.




    D

  10. #10
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    The deal will be done because we cannot afford to pay, as evidenced by poor tax take and massive deficit.

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