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Why is IMF/ECB running the Irish economy so bad?

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Comments

  • #32
    Rubik.
    Closed Accounts Posts: 1,185 ✭✭✭Rubik.


    There is the interest that will have to be paid on the bailout, which I assume will be at around 5%. This will not be an insignificant amount.


  • #33
    irishh_bob
    Closed Accounts Posts: 5,700 ✭✭✭irishh_bob


    someone sent a text message into vincent browne earlier

    who will bail out the IMF when fianna fail are finished with them ???

    they can take our freedom but they cant take our wit :)


  • #34
    RockinRolla
    Closed Accounts Posts: 575 ✭✭✭RockinRolla


    MUSSOLINI wrote: »
    As a teenager can I sit on a high horse and decry you elder folk for fcuking everything up?

    Seriously though it is very depressing that all my expectations, job wise etc, the ideal life that everyone strove for(two cars, holiday home etc) has been exposed as the type of thing which has messed everything up. Even more depressing that the world and country I spent my childhood in is gone forever, it will never be as good as it was, economically. Now I am in a position where I may not be able to afford to complete my education. Or if I do complete my college course I highly doubt I will be able to go on to do what I wanted to do afterwards(I wanted to be a Barrister, gonna be difficult to afford that). So emigration seems likely.

    Dont worry - Im already gone.

    And to think, here I am living the high life.

    Irelands a ****hole.


  • #35
    Sand
    Registered Users Posts: 12,468 ✭✭✭✭Sand


    The main reason is that the insiders are terrified that Hanz and Pierre wont understand why they need to pay stupidly high wages to get below average performances in the Dail and the public sector.


  • #36
    amacachi
    Closed Accounts Posts: 23,316 ✭✭✭✭amacachi


    I'm wishing now that I didn't cheek Dermot Ahern when he came around here before the last election, I probably won't get a chance to next time.


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  • #37
    lmaopml
    Registered Users Posts: 3,080 ✭✭✭lmaopml


    Rebelheart wrote: »
    So, it could be a very naive question but I've yet to hear reasons why IMF/ECB calling the shots will be so bad. Apparently the IMF was also called to sort out Britain's finances in 1976 (although I'm not sure how they compared with our situation).

    Yes, there'll be enormous cuts, but now won't Fianna Fáil have an outsider to blame for doing what Fianna Fáil was promising to do to us anyway. What else will be different?

    Without being cynical, could Fianna Fáil be so against IMF/ECB involvement because they're afraid that it will be revealed that our economy is much worse than we have thus far thought it is?

    Enlighten me, please.

    Op, I think no matter what political persuasion one is we would prefer to be able to handle this on our own and not be forced into a corner by anybody, in our 'interests' or no. The EU and IMF are frightening 'foreigners' to some and it's a scary time for some cause they see it as some kind of a loss of sovereignty etc. or are thinking about grave turners of times gone by blah blah blah.

    I'm not Eurosceptic, but I am defo Euro realist!

    For my part, no matter the awl crap talk fired across the dail at the moment, I do hope that the talks over the next few days are in our 'interest' over the coming years. I believe the Government have nothing more to lose; and no, I don't buy that they are only fighting for survival at this stage, even though they have been blunderous idiots with policy, I don't particularly buy all the 'Galway Tent' populist nonsense either.....Reality bites hard, and it's a great motivator...

    I'm glad it's Lenihan talking tbh, the best of a rather archaic system of nepotism and cronyism; on either side of the dail, that has spoiled real change with the tide of politics in this country for a very long time.

    I think the least we could do is wish them well at the moment and not go all populace who's to blame cept me nonsense..

    Join a political party with a new and vigorous agenda or else don't blame people being cynical over 'opposition' politics - it's simply not believable, and it's far too late.


  • #38
    RichardAnd
    Registered Users Posts: 3,627 ✭✭✭RichardAnd


    rumour wrote: »
    Don't worry, go abroad enjoy yourself for a few(10) years. Some time in the future FAS will come looking for you to help out old Ireland. (all on expenses of course). FF will probably be back in power and the good times will start all over again.


    Very likely. An celtic tiger take two will most likely be followed by another recession. Personally, I think that in 20 years time we'll all be back here wondering why nothing was learned from the last recession. Oh well, that's Ireland :(


  • #39
    TheRealPONeil
    Registered Users Posts: 131 ✭✭TheRealPONeil


    donegalfella wrote: »
    This post has been deleted.
    donegalfella wrote: »
    This post has been deleted.

    So we have disproportionate hysterical reporting when the minister for finance is
    1 - lying about the true situation or
    2 - doesn't really have a clue what's going on

    and all the other front bench nodding heads are falling into line !!


  • #40
    nesf
    Registered Users Posts: 27,645 ✭✭✭✭nesf


    Liam Byrne wrote: »
    Not as "very few" (i.e. zero) as the FF apologists would like us to believe.



    I think know it's (unfair) to say that.

    Meh, if you want to dismiss it as the mere FF apologist propoganda go ahead, but I remember an Ireland completely obsessed with property and the insane amount of lobbying and demands for the abolishment of Stamp Duty and similar.


  • #41
    jimmycrackcorm
    Registered Users Posts: 14,326 ✭✭✭✭jimmycrackcorm


    MUSSOLINI wrote: »
    As a teenager can I sit on a high horse and decry you elder folk for fcuking everything up?

    Seriously though it is very depressing that all my expectations, job wise etc, the ideal life that everyone strove for(two cars, holiday home etc) has been exposed as the type of thing which has messed everything up. Even more depressing that the world and country I spent my childhood in is gone forever, it will never be as good as it was, economically. Now I am in a position where I may not be able to afford to complete my education. Or if I do complete my college course I highly doubt I will be able to go on to do what I wanted to do afterwards(I wanted to be a Barrister, gonna be difficult to afford that). So emigration seems likely.

    If you can afford to sit on a high horse then I guess Daddy still owns a Range Rover.
    Assuming you are a teenager then you are still at school; you'd be much better directed to asking your teachers why our deficit is so large because they and others like them screwed us by demanding higher pay than their EU compatriots.

    Her's some homework research: http://www.ronanlyons.com/2009/04/20/tackling-the-thorny-issue-of-teachers-pay/

    Teachers musn't be teaching gravity these days as it only applies in the private sector and FYI when I was your age we all assumed we'd be emigrating, so we didn't whinge about it.

    While you're complaining about not being able to afford further education, try comparing dropout statistics for our third level educational institutions with comparable institutions in the U.S. where large fees are the norm. You'll be surprised.


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  • #42
    Liam Byrne
    Closed Accounts Posts: 18,163 ✭✭✭✭Liam Byrne


    nesf wrote: »
    Meh, if you want to dismiss it as the mere FF apologist propoganda go ahead

    Thank you for giving me permission to state facts and tell it like it is :rolleyes:


  • #43
    TheUsual
    Closed Accounts Posts: 2,288 ✭✭✭TheUsual


    DOH !

    More IMF rubbisah.
    IMF will not take over Ireland ... ever (because of European Central Bank). Thank you.

    ECB will never take over Ireland because we are paying our bills and have not asked for help - ignoring "journalists" who think that a Google search is like going to the library. Irish journalists are the laziest in the World.


  • #44
    rumour
    Closed Accounts Posts: 836 ✭✭✭rumour


    RichardAnd wrote: »
    Very likely. An celtic tiger take two will most likely be followed by another recession. Personally, I think that in 20 years time we'll all be back here wondering why nothing was learned from the last recession. Oh well, that's Ireland :(

    Look on the positive side. Planning is made so much easier(certainty provides sound possibilities).....no venturing into the unknown for Ireland:rolleyes:


  • #45
    Duckytech
    Registered Users Posts: 164 ✭✭Duckytech


    Monty Burnz wrote: »
    It's actually not so bad, but only due to the fact that it will hopefully stop Fianna Failure totally wiping out the state. I'd rather a 5-year old was in charge than the current shower of corrupt gombeen men.

    So it's better than Fianna Failure running things, but it's a minor disaster for when Fianna Failure get the boot and a proper government takes over.

    The way i picture it is........

    Greedy Independants, Overpaid civil servants, incompetent Td's and gluttonous Union leaders are the grass...

    and the IMF

    .......are the lawnmover.

    The long dead grass is gone (along with the dogsh@t) and your left with lovely fresh new grass...and a large petrol bill. :P


  • #46
    nommm
    Registered Users Posts: 700 ✭✭✭nommm


    I have a question as I don't have a clue about economics etc.

    I was reading an article on the Guardian website about all of this and they said that this could possibly lead to even more unemployment as the main aim is to make our economy smaller. Is this true? How will this benefit the country?


  • #47
    TheRealPONeil
    Registered Users Posts: 131 ✭✭TheRealPONeil


    jimmycrackcorm wrote: »
    <waffle>... you'd be much better directed to asking your teachers why our deficit is so large because they and others like them screwed us by demanding higher pay than their EU compatriots.</waffle>

    James you'd be better off paying attention to people who actually work in the financial industry instead of ranting off against a poor student. The real cause of your higher taxes and lower services is

    " ... the bank guarantee in 2008 this is seen as public not private debt"

    P.O'Neill.


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