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

[mikehunt]

Sponge €1,000 off Social welfare and you're a disgraceful criminal, dodge €3,000,000 in tax and sure you're a great lad and probably good mates with a scatter of politicians.

http://www.independent.ie/irish-news/courts/man-jailed-for-six-years-over-16m-garlic-tax-scam-26830346.html

[muppet]

http://www.bbc.com/news/business-31532755

Greece are doing what we should have done in September 2008, i.e. bring everything to the brink.

So far the ECB have slightly increased ELA funding to the Greek Banks. This is what Lenihan told us they wouldn't do and that there would be a run on the banks in the morning if there wasn't a Bank Guarantee.

If he had sat tight and let Anglo and IN go, the ECB would have either had to step into the breach or let them fail. Either way the Irish taxpayer would have been €35bn-€40bn better off.

Greece are trying too late, having mortgaged everything when they signed up for the bailout. They will either back down to the Germans or face  unprecedented problems.

[seafoid]

http://www.bbc.com/news/business-31532755

Greece are doing what we should have done in September 2008, i.e. bring everything to the brink.

So far the ECB have slightly increased ELA funding to the Greek Banks. This is what Lenihan told us they wouldn't do and that there would be a run on the banks in the morning if there wasn't a Bank Guarantee.

If he had sat tight and let Anglo and IN go, the ECB would have either had to step into the breach or let them fail. Either way the Irish taxpayer would have been €35bn-€40bn better off.

Greece are trying too late, having mortgaged everything when they signed up for the bailout. They will either back down to the Germans or face  unprecedented problems.

Ireland couldn't have done it. Greece do it now having proof the bailouts and austerity do not bring growth. FF had no choice. Debt for equity and debt writeoffs were not on the table. France was not banjaxed in 2008.m

[muppet]

http://www.bbc.com/news/business-31532755

Greece are doing what we should have done in September 2008, i.e. bring everything to the brink.

So far the ECB have slightly increased ELA funding to the Greek Banks. This is what Lenihan told us they wouldn't do and that there would be a run on the banks in the morning if there wasn't a Bank Guarantee.

If he had sat tight and let Anglo and IN go, the ECB would have either had to step into the breach or let them fail. Either way the Irish taxpayer would have been €35bn-€40bn better off.

Greece are trying too late, having mortgaged everything when they signed up for the bailout. They will either back down to the Germans or face  unprecedented problems.

Ireland couldn't have done it. Greece do it now having proof the bailouts and austerity do not bring growth. FF had no choice. Debt for equity and debt writeoffs were not on the table. France was not banjaxed in 2008.m

Debt for equity and debt write-offs would not have been what was sought. Why would we accept the Anglo debt when we weren't on the hook for it? Tell the ECB 'if it goes then it goes'. It was Trichet who insisted on no bank being let fail. His gambit of threatening to fail an entire country if you don't save a bank for me, was farcical and needed to be called.

I accept we would have had to deal, but there was a far better deal there for us if we had stood up for ourselves.

[muppet]

You know the way people who observe a tsunami talk about the tide going a long, long way out first?

I think that it was this represents.........

[johnneycool]

You know the way people who observe a tsunami talk about the tide going a long, long way out first?

I think that it was this represents.........

Question;
                 why is negative inflation seen as a bad thing;
                                                                            i    for consumers?
                                                                           ii    for the economy?

[macdanger2]

I'm no expert but I believe it's because people see prices going down so they decide to wait to spend money which results in reduced demand and in turn drives prices down and so people wait longer to spend money and on and on.......less money circulating = less jobs

[muppet]

You know the way people who observe a tsunami talk about the tide going a long, long way out first?

I think that it was this represents.........

Question;
                 why is negative inflation seen as a bad thing;
                                                                            i    for consumers?
                                                                           ii    for the economy?

We were talking about that a while back in the context of oil prices falling. I think it is a very good thing, unless you are a net producer of oil. A smaller percentage of your costs or household expenses going on power/heat etc can't be bad for you.

The problem as I see it is that the new global financial system is like a giant pendulum. That last time the pendulum swung through it took out the US sub-prime market and half of Wall Street with it, along with the European banking system. The latter hasn't recovered yet.

The pendulum can't be stopped, only delayed. The imminent Eurozone QE, along with the US QE, British QE and Japanese QE has delayed it coming again, by pushing it further back on its swing away from us. But that is only likely to create a bigger problem.

[muppet]

http://www.bbc.com/news/business-31690198

Manufacturing output in Ireland has risen to its highest level in more than 15 years, according to the Markit Purchasing Managers' Index (PMI).

Accelerated growth in both new orders and production pushed Ireland's PMI to 57.5 in February. A figure above 50 suggests expansion.

Overall eurozone manufacturing PMI held steady in February at 51.0.

France's manufacturing sector contracted to 47.6, the lowest score in the eurozone.

Manufacturing in the eurozone matched January's figure, even though new orders rose to a seven month-high.

Meanwhile, lower oil prices have reduced manufacturing input costs, said Markit.

'Key test'
Ireland's manufacturing growth seems to be resilient, said Investec's chief economist Philip O'Sullivan, but "any uncertainty ahead of the upcoming UK election - given that Ireland's closest neighbour has repeatedly been identified by manufacturers as a key source of demand - is likely to put that to the test".

Job creation in Ireland's manufacturing sector reached its highest since May 1998, Markit said.

Greece, France and Austria all saw their manufacturing sectors contract in February.

France's manufacturing PMI fell as sharp declines in output, new orders and employment weighed on the index.

"France is the most worrying, not just because it trails behind all other countries, but it is also the only country seeing a steepening downturn," said Markit's chief economist Chris Williamson.



Serious question, what are we manufacturing so much of?

[macdanger2]

Pharmaceuticals & electronics make up a nice chunk of it I'd say

[armaghniac]

Job creation in Ireland's manufacturing sector reached its highest since May 1998, Markit said.


I think this is the important line. The value is greatly inflated by transfer pricing and the like, but if some people are getting jobs that is a real gain.

[muppet]

Job creation in Ireland's manufacturing sector reached its highest since May 1998, Markit said.


I think this is the important line. The value is greatly inflated by transfer pricing and the like, but if some people are getting jobs that is a real gain.

Lookit, go out and Markit 'til we winit.

[armaghniac]

Job creation in Ireland's manufacturing sector reached its highest since May 1998, Markit said.


I think this is the important line. The value is greatly inflated by transfer pricing and the like, but if some people are getting jobs that is a real gain.

Lookit, go out and Markit 'til we winit.

Somebody is scoring
http://m.rte.ie/news/business/2015/0303/684232-exchequer-returns-february/

[armaghniac]

Ireland, fastest growing economy in the Eurozone
http://www.rte.ie/news/business/2015/0312/686549-cso-gdp-growth/

[Mike Sheehy]

Ireland, fastest growing economy in the Eurozone
http://www.rte.ie/news/business/2015/0312/686549-cso-gdp-growth/

If we could reimagine the relationship between labour and capital this rollercoaster might flatten out.