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Thread: No deal on legacy bank debt : according to the Eurozone

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    Politics.ie Member gerhard dengler's Avatar
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    Default No deal on legacy bank debt : according to the Eurozone

    Wolfgang Schaeuble has stated that as things stand there is going to be no deal with regard to legacy (Irish) bank debt.
    This contradicts the stated Irish government aim to secure a deal on legacy Irish bank debt.

    German finance minister warns against
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    Politics.ie Member Dublin 4's Avatar
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    They've repeated this position umpteen times.

    Same as the Pro-notes - no writedowns...

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    Politics.ie Member DownTheyGo's Avatar
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    Quote Originally Posted by gerhard dengler View Post
    Wolfgang Schaeuble has stated that as things stand there is going to be no deal with regard to legacy (Irish) bank debt.
    This contradicts the stated Irish government aim to secure a deal on legacy Irish bank debt.

    German finance minister warns against
    I don't think it contradicts the Governments aim as intended to get a deal.

    It does confirm that Wolfgang Schaeuble has no intention of making it easy or even possible.

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    Politics.ie Member gerhard dengler's Avatar
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    Quote Originally Posted by DownTheyGo View Post
    I don't think it contradicts the Governments aim as intended to get a deal.

    It does confirm that Wolfgang Schaeuble has no intention of making it easy or even possible.
    That's a reasonable point.

    Schaeuble seems to be taking the view that the bailout fund (EFSF/ESM) will only deal with future sovereign debt.
    Politics.ie moderators should moderate instead.
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    Politics.ie Member DownTheyGo's Avatar
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    Quote Originally Posted by gerhard dengler View Post
    That's a reasonable point.

    Schaeuble seems to be taking the view that the bailout fund (EFSF/ESM) will only deal with future sovereign debt.
    I don't think he is alone in holding that view. It's been stated many times.

    Going to be a tough nut to crack.

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    Politics.ie Member Grumpy Jack's Avatar
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    Quote Originally Posted by gerhard dengler View Post
    That's a reasonable point.

    Schaeuble seems to be taking the view that the bailout fund (EFSF/ESM) will only deal with future sovereign debt.
    Herr Dengler, would you also accept as a reasonable point that throughout this crisis, Schaeuble and Merkel have said Nein to an awful lot - only to back down later in the face of pressure?

    If anyone has a credibility problem these days, it is Schaeuble and Merkel.

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