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Thread: Morgan Kelly: Ireland to contract by 20-25%, Unemployment 20%

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    Politics.ie Member Simbo67's Avatar
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    Default Morgan Kelly: Ireland to contract by 20-25%, Unemployment 20%

    Piling Anglo losses on to national debt risks bankrupting the State - The Irish Times - Tue, Jan 20, 2009

    Dr Kelly of UCD has said in todays Irish Times that the nationalisation of Anglo Irish must be stopped at all costs. He has also said that the Irish economy will contract by 20-25% before this is over and unemployment will rise to 15% this year before rising to 20% next year. Only with the onset of mass emigration will the unemployment rate stop steady.

    Kids, this is serious stuff. The nationalisation of Anglo Irish can not go ahead. The international markets are now betting against us. Anglo needs to go under and we need to concentrate on the "good" banks. The vote will likely be one of the most important a TD will ever make.

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    Politics.ie Member Bobert's Avatar
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    How is the vote looking?

    I believe FG and Labour are to vote against it, SF probably will as well. What about the indos and FF BBs?
    Every one sees what you appear to be, few really know what you are, and those few dare not oppose themselves to the opinion of the many, who have the majesty of the state to defend them.

    - Niccolò Machiavelli

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    Quote Originally Posted by Simbo67 View Post
    Piling Anglo losses on to national debt risks bankrupting the State - The Irish Times - Tue, Jan 20, 2009

    Dr Kelly of UCD has said in todays Irish Times that the nationalisation of Anglo Irish must be stopped at all costs. He has also said that the Irish economy will contract by 20-25% before this is over and unemployment will rise to 15% this year before rising to 20% next year. Only with the onset of mass emigration will the unemployment rate stop steady.

    Kids, this is serious stuff. The nationalisation of Anglo Irish can not go ahead. The international markets are now betting against us. Anglo needs to go under and we need to concentrate on the "good" banks. The vote will likely be one of the most important a TD will ever make.
    TDs better start equipping the gardai with all the CS spray and tazers they need.

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    Politics.ie Member Simbo67's Avatar
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    He is basically telling people to tell their tds to vote against this...
    His revelation about Cowen going against the advice of his advisors is pretty damning too

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    Quote Originally Posted by Bobert View Post
    How is the vote looking?

    I believe FG and Labour are to vote against it, SF probably will as well. What about the indos and FF BBs?
    The party whip will have them all in line by tomorrow.

    Of course the vote is going to pass.

    The only way it won't, is if the Greens bring down government.

    No FF TD is going to jeopardise his standing within the party by going against them in their hour of need. It's better to have a happy retirement from the inside, than a bitter one on the outside. Lots of FF dinners and race meetings (complete with the right coloured badges) for these back-benchers to look forward to.

    They'd be mad not to get in line.

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    Politics.ie Member Simbo67's Avatar
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    I can imagine that this article is going to create a bit of a firestorm, it articulates I think what a lot of us have been trying to figure out. If it gets significant play tomorrow in the media it may create some pressure.

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    Quote Originally Posted by Bobert View Post
    How is the vote looking?

    I believe FG and Labour are to vote against it, SF probably will as well. What about the indos and FF BBs?
    It'll pass. .......
    Happiness is a dry martini and a good woman … or a bad woman.
    –George Burns

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    Politics.ie Member Simbo67's Avatar
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    I am sure it will.

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    This article explains Cowen's bizarre 'shut the feck up' statement this evening. The opposition have the ammunition now to go after and bring down the government tomorrow.

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    Politics.ie Member Simbo67's Avatar
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    They must have heard that this article was coming out so they tried to get in the patriotic duty bit in first.

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