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

[BarryBreensBandage]

Don't worry lads - Gerry Adams is comin down to save yis.

[Franko]

I still find it surprising how many people in the south just don't realise how bad things are.

I find it surprising how many people in the north don't realise who close behind us they are.

We're tied into the UK as a whole (thank god), time will tell but certainly the bond markets seem much happier that the UK isn't going to default (running around the 4 % mark on 10 year bonds).
That the UK is going to go cap in hand like ireland is largely wishful thinking on your part.

I was a being a bit dramatic I agree, but it's quite annoying to hear northerners constantly talk with great glee about the situation down here, seemingly ignorant of the fact that they had a worse bubble that was equally as badly handled and the people behaved in a similar way as that witnessed in the worst excesses of the celtic tiger and that without the UK backing up the north it would have been in Ireland's position long ago.
In the long term you are probably right, the UK will probably not need to resort to the EU for funding, but it's definitely not certain, stranger things have happened.

http://www.guardian.co.uk/commentisfree/2010/nov/16/ireland-globalrecession?intcmp=239

see this article

Firstly, any 'northerner' who talks with glee about the situation in the Irish Republic is a fool and as such their opinion should be treated with due respect.

The knock-on effect of the ROI financial collapse and the UK's austerity plans (especially regarding public sector jobs) could be almost catastrophic for our economy here in the black north.

However, you are being dramatic again with your assertion that there was a worse bubble here than in ROI and that it was just as badly handled.  I will agree that it was of the same order of magnitude though.

[Kerry Mike]

rte.ie

Taoiseach Brian Cowen, along with the leaders of the Opposition, will make statements in the Dáil this evening on financial stability.

The new addition to today's Dáil schedule will allow for ten-minute slots for Mr Cowen, and for Fine Gael, Labour and Sinn Féin.

The title of the discussion is 'Statements on financial stability development in Ireland and elsewhere'.

It is due to take place following the Order of Business, which usually finishes around 5pm.

The statements will be made as Ireland's debt crisis is expected to be discussed by eurozone finance ministers who are meeting in Brussels.

[give her dixie]

http://www.guardian.co.uk/business/2010/nov/16/ireland-bailout-debt-crisis

Live coverage from Brussels

[seafoid]

Biffo said nothing. FF are still hanging on.

[thejuice]

yeah it seems Cowen was just flapping his lips for the sake of it. The signs are looking to be that the country is going in the opposite direction that he said

[muppet]

4.54pm: It's Rumour City right now, with the Wall Street Journal reporting that EU officials are considering a "€80bn to €100bn" bailout for Ireland, and a separate rescue package for the Irish banks.

The WSJ also claims that the Eurozone are keen for the UK to make a contribution to this rescue package....

[muppet]

5.10pm: Over in the Irish Dail, the breaking news is that Ireland has not applied for a bailout.

Brian Cowen has just said that Ireland has made no application for external support. Instead, his government is close to finalising its four-year fiscal plan, and hopes to publish it next week.

Cowen told the Dail that this plan will be "clear and workable", and that it will maintain the current commitment to protect bank deposits in Ireland. He also said that it is important to find a "credible, workable solution to remove the uncertainty in the markets", and argued that the current turbulence has been about "issues beyond just Ireland"

We won't see out the month..........

[muppet]

5.25pm: Brian Lenihan, Ireland's finance minister, has finally arrived at the crucial eurozone talks in Brussels!

Running an hour and a quarter late, Lenihan told reporters that Ireland is "fully funded until the middle of next year", adding that the markets are "not being good to Ireland".

This has to be a wind up. FF are about to find out that they can destroy their own country but they won't be allowed to destroy anyone else's.

[muppet]

5.45pm David Cameron, Prime Minister of Britain has claimed inability of his nation to contribute the €8 Billion required by the EU to the bailout of the Republic of Ireland. In a statement to reporters, following the announcement of the Royal Engagement, Mr. Cameron stated that Britain were willing to give Northern Ireland and Wales to the Republic instead.

The Taoiseach, Brian Cowen, refused Mr. Cameron's offer stating 'a bailout is supposed to leave us LESS fucked'.

[muppet]

More seriously we are going to have another 'statement'. I hope Lenihan knows what is happening because the rest of FF don't.

6.04pm: Over in Dublin, RTE journalist Fergal Keane is reporting Cowen's speech didn't go down well with backbenchers and that the rumour mill is in overdrive about the announcement due at 7pm from Brussels.

There is speculation that it would include some sort of face-saving deal for the Irish government.

Of course, that press conference could come later than 7pm, given the late start (see 5.25pm)

[CiKe]

http://www.youtube.com/watch?v=jllJ-HeErjU

Saw this, thought was quite funny.

[Shamrock Shore]

Can we not get Dick Roche out again for some more clarification?

What genius thought it was a good idea to let him out earlier.

We are a laughing stock 

[muppet]

Can we not get Dick Roche out again for some more clarification?

What genius thought it was a good idea to let him out earlier.

We are a laughing stock 

1840

Dick Roche statement: We are fully fucked into the middle of the next century.

[thejuice]

what did Eamon Gilmore say, i only got the start of his speech but he said that our best days are ahead of us. Did he go on the explain what was going to be so good in the 2050's?