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

Started by muppet, September 28, 2008, 11:36:36 PM

Previous topic - Next topic

muppet

Quote from: Gaoth Dobhair Abu on November 17, 2011, 06:54:38 PM
Quote from: muppet on November 16, 2011, 09:32:28 PM
Quote from: muppet on November 16, 2011, 06:05:33 PM
http://www.irishtimes.com/newspaper/breaking/2011/1116/breaking3.html

Kenny in conflict with Merkel

Heard an interesting twist on why Kenny might be at odds with Angel.

He may be prioritising our special relationships and acting accordingly.

Muppet can you expand on this please.

If it all goes bang, or we burn the bondholders, we might be needing old friends urgently. I would expect to see him meeting Cameron and Obama more than Merkel and Sarky.
MWWSI 2017

Tubberman

Quote from: muppet on November 17, 2011, 07:05:21 PM
Quote from: Gaoth Dobhair Abu on November 17, 2011, 06:54:38 PM
Quote from: muppet on November 16, 2011, 09:32:28 PM
Quote from: muppet on November 16, 2011, 06:05:33 PM
http://www.irishtimes.com/newspaper/breaking/2011/1116/breaking3.html

Kenny in conflict with Merkel

Heard an interesting twist on why Kenny might be at odds with Angel.

He may be prioritising our special relationships and acting accordingly.

Muppet can you expand on this please.

If it all goes bang, or we burn the bondholders, we might be needing old friends urgently. I would expect to see him meeting Cameron and Obama more than Merkel and Sarky.

He'd be a fool not to keep as many options open as possible to cover as many outcomes as possible. Wonder where it ranks from plan a to plan z....
"Our greatest glory is not in never falling, but in rising every time we fall."

whiskeysteve

A copy of the Irish budget has been passed round the German Bundestag according to Matt Frei on the BBC there now
Somewhere, somehow, someone's going to pay: http://www.youtube.com/watch?v=pPhISgw3I2w

Gaoth Dobhair Abu

Quote from: muppet on November 17, 2011, 07:05:21 PM
Quote from: Gaoth Dobhair Abu on November 17, 2011, 06:54:38 PM
Quote from: muppet on November 16, 2011, 09:32:28 PM
Quote from: muppet on November 16, 2011, 06:05:33 PM
http://www.irishtimes.com/newspaper/breaking/2011/1116/breaking3.html

Kenny in conflict with Merkel

Heard an interesting twist on why Kenny might be at odds with Angel.

He may be prioritising our special relationships and acting accordingly.

Muppet can you expand on this please.

If it all goes bang, or we burn the bondholders, we might be needing old friends urgently. I would expect to see him meeting Cameron and Obama more than Merkel and Sarky.

Thanks.
Should we not have burnt the bond holders ages ago?!
Tbc....

muppet

Quote from: Gaoth Dobhair Abu on November 17, 2011, 07:56:05 PM
Quote from: muppet on November 17, 2011, 07:05:21 PM
Quote from: Gaoth Dobhair Abu on November 17, 2011, 06:54:38 PM
Quote from: muppet on November 16, 2011, 09:32:28 PM
Quote from: muppet on November 16, 2011, 06:05:33 PM
http://www.irishtimes.com/newspaper/breaking/2011/1116/breaking3.html

Kenny in conflict with Merkel

Heard an interesting twist on why Kenny might be at odds with Angel.

He may be prioritising our special relationships and acting accordingly.

Muppet can you expand on this please.

If it all goes bang, or we burn the bondholders, we might be needing old friends urgently. I would expect to see him meeting Cameron and Obama more than Merkel and Sarky.

Thanks.
Should we not have burnt the bond holders ages ago?!

I think we should have done it in Sep 2008. We had a bargaining position.

If we did it then it would have been burning private investors in private banks. If we do it now we burn the ECB and most of the rest of the Eurozone along with Britain, USA and the IMF. We will be popular.
MWWSI 2017

muppet

Free App for iPhone.

€conomia - You are the head of the ECB and you set the interest rates for the Eurozone. You have to keep inflation just below 2%.

I am deadly serious, it is free!
MWWSI 2017

Orangemac

Quote from: whiskeysteve on November 17, 2011, 07:44:35 PM
A copy of the Irish budget has been passed round the German Bundestag according to Matt Frei on the BBC there now
Is this the real reason Kenny was invited over to Germany to get the ok for the Irish budget and we had the whole Kenny acting tough spiel as a cover yesterday?


whiskeysteve

Quote from: muppet on November 17, 2011, 08:45:24 PM
Quote from: Gaoth Dobhair Abu on November 17, 2011, 07:56:05 PM
Quote from: muppet on November 17, 2011, 07:05:21 PM
Quote from: Gaoth Dobhair Abu on November 17, 2011, 06:54:38 PM
Quote from: muppet on November 16, 2011, 09:32:28 PM
Quote from: muppet on November 16, 2011, 06:05:33 PM
http://www.irishtimes.com/newspaper/breaking/2011/1116/breaking3.html

Kenny in conflict with Merkel

Heard an interesting twist on why Kenny might be at odds with Angel.

He may be prioritising our special relationships and acting accordingly.

Muppet can you expand on this please.

If it all goes bang, or we burn the bondholders, we might be needing old friends urgently. I would expect to see him meeting Cameron and Obama more than Merkel and Sarky.

Thanks.
Should we not have burnt the bond holders ages ago?!

I think we should have done it in Sep 2008. We had a bargaining position.

If we did it then it would have been burning private investors in private banks. If we do it now we burn the ECB and most of the rest of the Eurozone along with Britain, USA and the IMF. We will be popular.

Yes popular with the powers that be, hopefully a great swathe of whom get ejected with global default.

And on the question of blame, sure the bastarding bankers have poured petrol over everything, how long can everybody hold onto a lit match without dropping it? Point being burning our fingers now won't save us or earn us any plaudits when SocGen, Bank of America, etc hit the dust - everyone will be too busy fending for themselves if it comes to that.

Wish we were more concerned about being popular in the long term with our own people... too many f**king Lucinda Creighton climbers. f**king shite
Somewhere, somehow, someone's going to pay: http://www.youtube.com/watch?v=pPhISgw3I2w

whiskeysteve

Quote from: Orangemac on November 17, 2011, 09:47:53 PM
Quote from: whiskeysteve on November 17, 2011, 07:44:35 PM
A copy of the Irish budget has been passed round the German Bundestag according to Matt Frei on the BBC there now
Is this the real reason Kenny was invited over to Germany to get the ok for the Irish budget and we had the whole Kenny acting tough spiel as a cover yesterday?

i'd say he got wind of it coming out it in the press and gave off stink in light of the embarrasment, aye
Somewhere, somehow, someone's going to pay: http://www.youtube.com/watch?v=pPhISgw3I2w

muppet

Budgets are tactically leaked every year. Not just in Ireland. (I concede that the German Parliament is a novel place to 'leak' it)

Did anything else, other than the VAT, come out in Berlin? The Italians have flagged a VAT increase even before they had an unelected Government.
MWWSI 2017

whiskeysteve

Somewhere, somehow, someone's going to pay: http://www.youtube.com/watch?v=pPhISgw3I2w

Hardy

Quote from: whiskeysteve on November 17, 2011, 09:53:30 PM
Nigel Farage telling the hoors a few home truths

http://www.youtube.com/watch?v=bdob6QRLRJU&feature=player_embedded

You know, that could be the most frightening moment of this whole crisis so far. Why? Because Nigel Farrage comes across as totally reasonable and rational in every word he says there. In fact, everything he says is true. That's how Hitler sounded to the German voters who elected him in 1933. We are in real trouble when the extremists start to make sense. Merkel, if she's serious about the importance of this crisis for the future of Europe, must bite the bullet and direct the ECB to act as the Central Bank of Europe. It's a straight choice now between the fear of the financial inconvenience of inflation and the fear of the collapse of the political consensus that has underpinned peace in Europe for 65 years.


Declan

German memo shows secret slide towards a super-state

By Bruno Waterfield
Friday November 18 2011
AN INTRUSIVE European body with the power to take over the economies of struggling nations should be set up to tackle the eurozone crisis, according to a leaked German government document.

The memo will prompt fears that Germany's euro crisis plans could result in a European super-state with spending and tax plans set in Brussels

The six-page memo, by the German foreign office, argues that Europe's economic powerhouses should be able to intervene in how beleaguered eurozone countries are run.

The confidential blueprint sets out Germany's plan to tackle the eurozone debt crisis by creating a "stability union" that will be "immediately followed by moves "on the way towards a political union".

It will prompt fears that Germany's euro crisis plans could result in a European super-state with spending and tax plans set in Brussels.

The proposals urge that the European Stability Mechanism (ESM), a eurozone bailout fund that will be established by the end of next year, should be transformed into a version of the International Monetary Fund for the EU.

The European Monetary Fund (EMF) would be able to take full fiscal control of a failing country, including taking countries into receivership.

The leaked document, The Future of the EU: Required Integration Policy Improvements for the Creation of a Stability Union, begins with a proposal to create "automatic sanctions" that could be imposed on euro members spending beyond targets set by the European Commission. Germany is demanding that if euro rules are "consistently violated", it should be able to demand action from the European Court of Justice.

Germany, Finland, Austria and the Netherlands would be able to ask EU courts to impose sanctions, from fines to the loss of budgetary sovereignty, to protect the euro.

The memo states the EMF would be given "real intervention rights" in the budgets of euro members who have received EU-IMF bailouts.

Open Europe, a think tank, has called for Mr Cameron to demand concessions from Mrs Merkel in exchange for the plans, which need the consent of all 27 EU countries, giving Britain a veto

Rossfan

Davy's given us a dream to cling to
We're going to bring home the SAM