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

[armaghniac]

Basically the government gives a whack of money to the bank and levies the depositors. The bank stays solvent and this is a "tax".

The experience of this Government taking €1.88bn from private pensions between 2011-2014 to fund the Jobs Initiative (mostly the reduction in VAT on certain services), would also make you ill-at-ease that the Government would regard as sacred the guarantee for sub-€100k depositors.

The government takes money from depositors every year, it is called DIRT.

However sub 1% taxes are one thing, 10% taxes another.

[muppet]

Basically the government gives a whack of money to the bank and levies the depositors. The bank stays solvent and this is a "tax".

The experience of this Government taking €1.88bn from private pensions between 2011-2014 to fund the Jobs Initiative (mostly the reduction in VAT on certain services), would also make you ill-at-ease that the Government would regard as sacred the guarantee for sub-€100k depositors.

The government takes money from depositors every year, it is called DIRT.

However sub 1% taxes are one thing, 10% taxes another.

But that is a tax on interest surely?

This is a tax on savings/wealth.

[muppet]

Declan Ganley has tweeted a video outlining ECB strategy to deal with the Eurozone Financial Crisis:

http://www.youtube.com/watch?v=hz65AOjabtM&feature=youtu.be

[Declan]

http://trueeconomics.blogspot.be/2013/03/2532013-bankrupted-cyprus-aka-rescue.html?spref=tw

[muppet]

http://trueeconomics.blogspot.be/2013/03/2532013-bankrupted-cyprus-aka-rescue.html?spref=tw

And on it goes.

[highorlow]

All I can say is God help the youngsters he is teaching Finance to in Trinity.

[Declan]

Interesting article here - Can we speculate as to where it'll end?
http://www.businessinsider.com/morgan-stanley-cyprus-is-no-longer-a-full-member-of-the-eurozone-2013-3

Also great to see that we've turned the corner!! - http://cso.ie/en/media/csoie/releasespublications/documents/prices/2013/rppi_feb2013.pdf

[muppet]

http://www.bondvigilantes.com/blog/2013/03/26/germany-doesnt-like-its-own-fiscal-union-so-why-would-it-ever-agree-upon-a-european-one/?utm_source=rss&utm_medium=rss&utm_campaign=germany-doesnt-like-its-own-fiscal-union-so-why-would-it-ever-agree-upon-a-european-one

[Declan]

Interesting article muppet

[Declan]

Good piece by Bloomberg on how Germany's been bailed out by Eurozone just as much as Greece

http://www.bloomberg.com/news/2012-05-23/merkel-should-know-her-country-has-been-bailed-out-too.html

[Declan]

All good on the World economic front I see. It's really incredible what's going on and yet the commentary here is so weak and biased from the established media it beggars belief

http://www.zerohedge.com/news/2013-04-05/deutsche-bank-central-bank-intervention-we-are-flying-blind

[muppet]

All good on the World economic front I see. It's really incredible what's going on and yet the commentary here is so weak and biased from the established media it beggars belief

http://www.zerohedge.com/news/2013-04-05/deutsche-bank-central-bank-intervention-we-are-flying-blind

Yip,  coming up to half time, we are 5 -10 to no score down and the media are screaming at us to take off the corner forward.

[Dinny Breen]

I'd hate to ring the Samaritans and have one you two on the other...

[Declan]

Ah now I have a very calming voice

[Bord na Mona man]

Mortgage arrears and strategic defaulters is now coming onto the radar a lot more.
Though if the IMF didn't highlight it, the (state owned) banks and government would happily not deal with the repossession issue.
There is still a section of the population who mistakenly think they'll qualify for some sort of amnesty if they stop making mortgage payments.

http://qz.com/50615/welcome-to-ireland-where-house-payments-are-optional-apparently/