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

[the Deel Rover]

jUST wondering lads can any one tell me how did canada and the canadian banks not get sucked in to the greed that the Irish , English , Us banks and many others how did they avoid a similiar fate whereby their govenrment has not had to bail out any banks ?Every country in the world seems to be suffering except for canada fair fcuks to them. 

[Bogball XV]

. If you took all their money off them - which I'd be fully in favour of, together with locking them up for a long spell - it wouldn't make a ripple in the ocean of debt they've caused. It wouldn't even pay the extra interest occasioned by the increased rates their spivvery and chancerism has caused us to have to pay. Ironically, only we, the little people they despise, collectively have the wherewithal to undo what they've done. And every penny we contribute will be a real penny, not a CFD, make-believe, funny-money penny like the ones they made on the way up.

Once again it's capitalism, free enterprise and "what's mine is mine" when they're gaining and nationalisation and shared pain when they're losing.

I can't see that Seanie could have too much money about him, I'd imagine almost every penny he has is tied up in property, those loans were all to finance property investments after all, and most of his other wealth was presumably in the form of anglo shares.

[Lecale2]

This year's budget shortfall is expected to be 9.5 percent of gross domestic product. Surely Social partnership has to be for the bad times as well as the good times.

The opposition are playing politics and offering no alternative strategy.  If everyone doesn't start to pull together soon to tackle the budget deficit the IMF will be brought in by the EU commission (Germans) to do the dirty work.

[Rossfan]

jUST wondering lads can any one tell me how did canada and the canadian banks not get sucked in to the greed that the Irish , English , Us banks and many others how did they avoid a similiar fate whereby their govenrment has not had to bail out any banks ?Every country in the world seems to be suffering except for canada fair fcuks to them. 

Because in Canada they still have some belief in that quaint old fashioned idea that a Country is a Society not something set up to enable rich people to get richer and when it goes belly up through their greed make the plain people feel the pain.
Canada also has an excellent public health system because of their quaint old fashioned beliefs unlike our Harney/McEvaddy health system.

[Bogball XV]

jUST wondering lads can any one tell me how did canada and the canadian banks not get sucked in to the greed that the Irish , English , Us banks and many others how did they avoid a similiar fate whereby their govenrment has not had to bail out any banks ?Every country in the world seems to be suffering except for canada fair fcuks to them. 

Because in Canada they still have some belief in that quaint old fashioned idea that a Country is a Society not something set up to enable rich people to get richer and when it goes belly up through their greed make the plain people feel the pain.
Canada also has an excellent public health system because of their quaint old fashioned beliefs unlike our Harney/McEvaddy health system.

Here's a good article on the Canadian banking system - interestingly, European banks operated along much the same lines, however whilst being as conservative as they were at home, they were hugely exposed to the US sub prime disaster.

http://www.irishtimes.com/newspaper/finance/2009/0221/1224241590852.html

[muppet]

Was this article the start of the Anglo €451 Million scandal?

The Times named the following 4 though please note there is no way of knowing at the moment if they are correct or not.

Gerry Gannon, Joe O'Reilly, Seamus Ross and Jerry Conlan

Seamus Ross of Mennolly Homes See blog

Gerry Gannon of Gannon homes

Joe O'Reilly of Adamstown and Dundrum Shopping Centre fame 2005 SBP article


Jerry Conlon set up the Mount Carmel  Medical Group which "has been appointed by the Health Service Executive to build private hospitals on the grounds of public hospitals as part of the co-location strategy. "

The article mentions two others who didn't return calls.

They are:

Partick Kearney of PBN properties from Belfast who is building in Manchester. 

John McCabe of McCabe builders

[muppet]

There are still rumours about a possible TD in the 10.

Looking at that list it wouldn't be too difficult to guess which one. Of course it is probably just a rumour with no foundation.

[tyronefan]

any clues muppet

[muppet]

any clues muppet

At least 3 property companies were to build around 13,000 units in North Dublin in a square between Clare Hall, Baldoyle, Portmarnock and Balgriffin.

Two are named above.

One named after a long river is not in the list above.

Use the force tyronefan.

[tyronefan]

got ya now  a little slow

[Bogball XV]

There are still rumours about a possible TD in the 10.

Looking at that list it wouldn't be too difficult to guess which one. Of course it is probably just a rumour with no foundation.

Bit boring really, had a fair idea Gannon would be there, Ross and Reilly not surprises either, but can't think of any TD directly linked.

[muppet]

got ya now  a little slow

I am amazed he hasn't come out with a public statement denying any involvement..............

[tyronefan]

they generally wait until they know for sure that the papers are going to name, then they give a statement hours before the paper is due out denying everything.

[Bogball XV]

I'm still lost, think I know the company, but not getting the link - are you certain that the FF TD is involved in the company?  Presuming he has been involved in controversy over his business holdings before? Is the spelling of the TD and the person connected to the company not different?

[armaghniac]

But part of the reason the Government screwed up is by increasing the Public Service bill over the years

It is even simpler than this. The government did not have a reasonable assessment of its own finances. It was taking in lots of loot from stamp duty on a volume of sales transactions at prices that couldn't last. It didn't admit that it couldn't last, had it done then it might have looked at the implications for banks etc. It then spent this money on various things, including the public service.  It is a bit like many individuals who borrowed to the hilt on the basis of incomes including lots of overtime at inflated rates for doing work which were never going to last. The government did pay back the national debt and pay into the pension fund, if they had a properly calculated assessment of what was going on they would have done much more of this in the good times. Now that the Intl situation is much worse than anyone expected the government has not enough in reserve to keep things in some sort of balance and they have to cut back too, making things worse.