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

[Joxer]

They havent actually said how much they are reducing Social Welfare by have they?

Dark dark days ahead!

[Bogball XV]

all a bit vague and underwhelming really isn't it.

[Bogball XV]

vat up to 24%, presumably they're going to close the border too!!

[gallsman]

Idiot Simpson from the BBC "Taoiseach...Do you blame yourselves or the rest of the world?"

[Hereiam]

My main question is how much is the diesel gona go up by.

[mannix]

Jeepers, it looks like the end of the world, china owns the USA according to some in the USA and  the euro will collapse if Spain need a bailout. Time to buy those vegetable seeds and a cow or goat, and hope you don't need them.   

[thejuice]

After listening to the government and skimming through the budget, there was a word that was missing that I think we all wanted to hear.

That word was 'bank'

[Rossie11]

Heard a guy on primetime last night saying that even at 5% interest it would equate to 4 Billion a year on service of the interest alone. That is aprox 5 grand for every person working to service the debt alone  never mind normal tax collection for everyday running of the country.

Mass emigration on the cards once again

True, but the idea is that 5% is considerably cheaper than what is available on the bond markets.

Yes but still completely unserviceable so pointless.

Heres what Morgan Kelly wrote 2 weeks ago

How low is sufficiently low? Economists have a simple rule to calculate this. If the interest rate on a country's debt is lower than the sum of its growth rate and inflation rate, the ratio of debt to national income will shrink through time. After a massive credit bubble and with a shaky international economy, our growth prospects for the next decade are poor, and prices are likely to be static or falling. An interest rate beyond 2 per cent is likely to sink us.This means that if we are forced to repay the ECB at the 5 per cent interest rate imposed on Greece, our debt will rise faster than our means of servicing it, and we will inevitably face a State bankruptcy that will destroy what few shreds of our international reputation still remain.

Why would the ECB impose such a punitive interest rate on us? The answer is that we are too small to matter: the ECB's real concerns lie with Spain and Italy. Making an example of Ireland is an easy way to show that bailouts are not a soft option, and so frighten them into keeping their deficits under control.

There ya go.. its 2% or burst.

[EC Unique]

vat up to 24%, presumably they're going to close the border too!!

UK rates go to 20% in January.

[bcarrier]

Do FG/Labour actually have a policy on all of this .... SF seem to be the only party not towing the line with the banks.

Morgan said: "Even solely dealing with our structural deficit, this plan is in the main a list of deflationary actions that will deepen and lengthen the recession.

"The real issue is that we are about to embark on an insane course of borrowing to fund a failed banking policy. We cannot afford this banking policy, we cannot afford this loan. Most importantly we cannot afford this government.

"We need real negotiators in there now to deal with the banks and burn the bondholders. Not a red cent more should go into Irish banks until their debts are restructured.

[muppet]

After listening to the government and skimming through the budget, there was a word that was missing that I think we all wanted to hear.

That word was 'bank'

I'll put my hand up admit I am (fortunately) fairly well paid and short term work prospects look good (who knows after that). This budget will impact on my family but it appears to me to impact on the lower paid a lot more. While I have argued here that only half of all workers here pay tax and more need to start paying tax, this plan still seems to be a long way right of centre.

That means our extreme right wing ideology screwed up completely, needed a socialist bailout, which will now be paid for by putting apparently more of the burden on the lower paid/traditional left. Additionally those  traditionally most likely to march are among the hardest hit, e.g. students, pensioners, union members and the unemployed. IMHO this will end in tears.

Aside from that we have had no investigation into what happened. We haven't been told why we the citizens are responsible for picking up the tab for the banks failures. We haven't even had a single apology and not one person has accepted any blame for anything whatsoever.

Personally I can only accept austerity in parallel with complete transparency and accountability.

[pintsofguinness]

Just watching the BBC News and all over the UK thousands of students are protesting cuts.
Will there be any chance that people in Ireland will take to the streets?
I know there is a protest planned for this Saturday in Dublin, and I was wondering if many will bother to show up.

Will the Irish take to the streets in the same manner in which the French, Greeks and Portugese have?

No they won't, the Irish will bend over and take it up the hole as always.

[Rossfan]

•   Reinvigorate activation policies to ensure that unemployed people can make a swift return to work

Is there an Irish or English translation available anywhere? 

A load of shite overall as the lower orders get screwed again to pay for the disgraceful behaviour of FFPDBankerDeveloperBuilderEstateAgentdome 

FCUK OFF  FF. IN THE NAME OF GOD GO NOW !!!and let enda/Eamonn in .... Jesus help us

[ross4life]

FF doing the opposite to Robin hood, stealing from the poor to feed the rich!

[Declan]

I'll put my hand up admit I am (fortunately) fairly well paid and short term work prospects look good (who knows after that). This budget will impact on my family but it appears to me to impact on the lower paid a lot more. While I have argued here that only half of all workers here pay tax and more need to start paying tax, this plan still seems to be a long way right of centre.

That means our extreme right wing ideology screwed up completely, needed a socialist bailout, which will now be paid for by putting apparently more of the burden on the lower paid/traditional left. Additionally those  traditionally most likely to march are among the hardest hit, e.g. students, pensioners, union members and the unemployed. IMHO this will end in tears.

Aside from that we have had no investigation into what happened. We haven't been told why we the citizens are responsible for picking up the tab for the banks failures. We haven't even had a single apology and not one person has accepted any blame for anything whatsoever.

Personally I can only accept austerity in parallel with complete transparency and accountability.

I'd be in a similar position Muppet and it's outrageous that in all of this there's no mention of the banks. And all built around an assumption of 2.75% growth per annum - Lunacy

Oh an just noticed this as well - http://www.independent.ie/opinion/columnists/john-drennan/john-drennan-divided-dail-unites-to-give-itself-a-pay-rise-2410792.html
An official estimate of the money required to run the Dail in 2011 'sneaked' through the Dail last Thursday reveals that the recession stops at the gates of Leinster House.

In a touching scene, deputies across all parties suspended hostilities and agreed to the estimates without a single objection.

The estimates reveal that the cost of a Dail which serves fewer people than the population of cities such as greater Manchester, will in 2011 come to €112,983,000 -- which represents a drop of just €1.2m (or 1 per cent) on last year's spending.

But expenditure on the perks and services enjoyed by our TDs and senators will actually increase in certain areas next year.

The cost of salaries for TDs, senators and secretarial assistants will increase, while salaries of staff like those in catering and behind the Dail bar will decrease.
Not only have they given themselves a raise, increased the severence pay for people who lose their seats, and increased the pensions, but they've done so while CUTTING salaries for LH staff.