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

[stew]

My retirement nest egg is in serious trouble, I have lost 28% of my retirement funds in the past six months and I fear it is only going to get worse.

The wife's is down 11% which isnt too bad but it all adds up to a lot of money I wont have unless things improve dramatically.

I know a bail out plan was needed but that does not mean i like it.

America is in serious trouble and yer only man to get us out of it is one Barak Obama. 

[orangeman]

Germany has now guaranteed all its deposits - the market is down so far 5% with only an hour gone - what next ?

[orangeman]

Markets are in freefall !

[mannix]

as long as europe dithers and cannot make a decision about what to do the us dollar will get stronger, i hope it lasts till the weekend and give me a chance to get my dollars out of the us at the 135 mark.
Was talking to a man that appears to know what will happen, he said the irish property market would implode 2 years ago, he reckons the dollar will be around 1.80 in quick order.He also reckoned that it will remain weak for years because the usa has to try and pay for the wars they are stuck in and also pay for the crazy military system they have.Barack obama should do the wise thing and walk away from a very poisoned chalice.

[give her dixie]

With the Irish banks taking another hammering today, and Anglo Irish down another 27%, it doesn't look too good.
I feel that Anglo are in a very bad position, with nearly 80% of their lending involving property, and before the end of this week something radical will happen.
Will they be taken over, or will the Gov bail them out?
Things don't look too rosey this Monday eh?

[orangeman]

Danske, which is Denmark's biggest financial group, said today that it is going to join a two-year deposit guarantee scheme the Danish government announced last night.

Danske, which owns National Irish Bank in the Republic and Northern Bank in Northern Ireland, had applied to take part in the Irish government's bank guarantee announced last week.

But now that it has joined Denmark's scheme, Danske has withdrawn its request to join the Irish scheme.

Advertisement'National Irish Bank deposit customers will be covered by the new Danish agreement,' National Irish Bank said today.

'As part of the agreement, depositors and creditors with unsecured claims are fully covered by the State guarantee regardless of the amount.'

In an interview with Reuters news agency, the bank's chief financial officer Tonny Thierry Andersen said Danske's Irish operations were affected by the financial crisis.

Andersen said: 'What we can see in Ireland is that asset values continue to fall and we are paying the consequences of that.'

Danske said it expects to be liable for around a third of the €6.6 billion fund that participating Danish banks are expected to contribute to.

Danske expects the guarantee to reduce its net fee income by about €0.3 billion per year for two years, and that its third-quarter earnings will be slightly weaker than anticipated due to the imapct of the financial crisis.

This morning Danske's shares were down 10% at 119.75 kroner, while the Copenhagen exchange's top 20 index was down 5%.




FROM RTE WEBSITE --

Is Northern Bank in this scheme as well ??

[Zapatista]

"The government will make sure that those who were involved in irresponsible business practices will be brought to account," said Dr Merkel.

Fair play to Merkel I hope she follows through on this.

We really need to do the same. Does anyone think we will or will we pay them more in hope that they will do a better job?

[orangeman]

"The government will make sure that those who were involved in irresponsible business practices will be brought to account," said Dr Merkel.

Fair play to Merkel I hope she follows through on this.

We really need to do the same. Does anyone think we will or will we pay them more in hope that they will do a better job?

I'd ssay the latter would be more accurate.

[Donagh]

ISEQ now down 9% on the day. I'd say there's some panic happening now.

[orangeman]

ISEQ now down 9% on the day. I'd say there's some panic happening now.

I can almost smell it.

[pintsofguinness]

So on a scale of 1 to 10 how fucked are we?
10 being the most fucked.

[ardmhachaabu]

So on a scale of 1 to 10 how fucked are we?
10 being the most fucked.

8/9

[orangeman]

7

[pintsofguinness]

 
Just let me know when it's time to go and get the tinned food and bottled water.

[orangeman]

Just let me know when it's time to go and get the tinned food and bottled water.

Mighn't be bad idea at the minute to get some stocks ( no shares ) in !