The Big Bailout of the Eurozone (Another crisis coming? - Seriously)

[whiskeysteve]

Mamma mia! no need to post a link, where would you start - holes all over the hull now!

http://www.youtube.com/watch?v=9jK-NcRmVcw

[Orangemac]

The bailout fund idea seems to have gone down the swanny. Heard figure of 2 trillion put at the debt level and doubt German taxpayers want to pay any more.

What are the remaining choices? Force bondholders Europe wide to take a hit and restructure debt or printy printy from the ECB to flood the market with euros with the knock on effect of inflation.

Either way it ain't going to be pretty.

[muppet]

Every time some obnoxious hurdle appears Sarky, Trichet and rest of the garcons put on their boots and deliver a well aimed kick and le can flies a bit more down the road. This is a can-do can, also known in some places as a CDO can. This Can has a AAA rating you know. From Moody's and Fitch and the like. It is a seriously resilient can. It has been used to save Greece and Portugal and the Irish have also managed to drink from le can. This can is good for congestion, and guarantees.

Amazingly the markets have been less than impressed with le can. Despite AAA ratings and Stavros Flatley and Ronaldo dancing the Can-Can at Cannes the markets just don't seem to get it. That didn't matter as they had to play along so far. Sarky, Trichet and Angel told them the can with the plan is the only show in town, we are where we are and the fundamentals are sound.

However now some idiot has actually asked what is in le can. Even worse they actually picked up le can.

Here it is:

[muppet]

http://www.rte.ie/news/2011/0805/rating-business.html

S&P estimated that lower interest rates as a result of the recent EU agreement would save Ireland around €900m. It also predicted that Ireland could go back into the bond markets in late 2013, and that market interest rates on Irish debt would fall to around 6% by then.

It said it did not expect the restructuring of the banking system to lead to any further costs to the State.

Amazing how not being cut to junk status by a dreaded ratings agencies is considered good news. But I suppose when everyone else is sliding and you are standing still it looks like progress.

This week's crash in the markets reminds me of way back eh last week when there was a crash averted at the last minute by a deal in Washington.

[muppet]

Italians get serious with ratings agencies:

http://www.telegraph.co.uk/finance/newsbysector/banksandfinance/8682558/SandPs-and-Moodys-face-Italian-raids.html

[muppet]

http://www.nytimes.com/2011/08/06/business/us-debt-downgraded-by-sp.html

Standards & Poors downgrade US 'long term debt'.

The markets on monday will be interesting. I will be on holiday.

Please only contact me in the event of a crucial Mayo squad update.

At a stretch, contact me if Kerry Mike has offered a bye in the semi.

[the Deel Rover]

allways look on the bright side of life da da da da da da da da da




Big boost for Ireland amid market chaos

Saturday August 06 2011

IRISH banks got a major boost from an influential ratings agency last night in stark contrast to the financial turmoil that is threatening the world economy.

The Standard & Poor's (S&P) agency said taxpayers would not need to pump any more money into our banks and that the country was on course to escape a Greek-style second bailout. In doing so it gave its most upbeat assessment of our prospects since before the EU/IMF bailout.

The Irish economy was singled out for praise after a week of horrendous share-value losses on world markets. The top European market lost 11pc of value, while the main US stock market dropped 7pc.

- Donal O'Donovan and Emmet Oliver

Irish Independent

[thejuice]

German growth at a sluggish 0.1%

http://www.rte.ie/news/2011/0816/germany-business.html

[seafoid]

Ireland hasn't a hope of meeting the bailout targets in the absence of growth internationally.

[muppet]

Ireland hasn't a hope of meeting the bailout targets in the absence of growth internationally.

Less of the old pessimism there Seafoid.

Some of us are still celebrating NOT being downgraded to junk status from DD-, which of course was all of our childhoods' favourite status.

[the Deel Rover]

German growth at a sluggish 0.1%

http://www.rte.ie/news/2011/0816/germany-business.html

Ok lads can any one tell me whats the story with Germany since they are the be all and end all with Europe . Since April we have had two rate rises because they said inflation was running high in Germany and now nada no growth at all despite a cople of months ago they were predicting large growth (not sure what %)

[muppet]

http://www.google.com/publicdata/explore?ds=ds22a34krhq5p_&ctype=b&strail=false&nselm=s&met_x=edp_b9_pc_gdp&scale_x=lin&ind_x=false&met_y=gd_pc_gdp&scale_y=lin&ind_y=false&met_c=edp_b9_mio_eur&met_s=gd_mio_eur&idim=country:ie:gr:pt:es:it:tr&ifdim=country&tunit=Y&pit=1281826800000&icfg&uniSize=0.034999999999999996&iconSize=0.5#ctype=b&strail=true&nselm=s&met_x=edp_b9_pc_gdp&scale_x=lin&ind_x=false&met_y=gd_pc_gdp&scale_y=lin&ind_y=false&met_s=gd_mio_eur&scale_s=lin&ind_s=false&met_c=gd_pc_gdp&scale_c=lin&ind_c=false&idim=country:uk&ifdim=country&pit=1282086000000&hl=en&dl=en

Click on the link, hit clear selections on the left, the tick the Ireland box and press play (beside the 1995)

[seafoid]

German growth at a sluggish 0.1%

http://www.rte.ie/news/2011/0816/germany-business.html

Ok lads can any one tell me whats the story with Germany since they are the be all and end all with Europe . Since April we have had two rate rises because they said inflation was running high in Germany and now nada no growth at all despite a cople of months ago they were predicting large growth (not sure what %)

Those rate rises look like a mistake. Inflation is not where it is at.

[thejuice]

http://www.google.com/publicdata/explore?ds=ds22a34krhq5p_&ctype=b&strail=false&nselm=s&met_x=edp_b9_pc_gdp&scale_x=lin&ind_x=false&met_y=gd_pc_gdp&scale_y=lin&ind_y=false&met_c=edp_b9_mio_eur&met_s=gd_mio_eur&idim=country:ie:gr:pt:es:it:tr&ifdim=country&tunit=Y&pit=1281826800000&icfg&uniSize=0.034999999999999996&iconSize=0.5#ctype=b&strail=true&nselm=s&met_x=edp_b9_pc_gdp&scale_x=lin&ind_x=false&met_y=gd_pc_gdp&scale_y=lin&ind_y=false&met_s=gd_mio_eur&scale_s=lin&ind_s=false&met_c=gd_pc_gdp&scale_c=lin&ind_c=false&idim=country:uk&ifdim=country&pit=1282086000000&hl=en&dl=en

Click on the link, hit clear selections on the left, the tick the Ireland box and press play (beside the 1995)

We could all learn a bit from Norway.

[muppet]

I think we have turned the corner.

However these people think otherwise (they back up their assertion): http://bondwatchireland.blogspot.com/