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Positives from IMF takeover?

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  • 20-11-2010 10:51am
    #1
    brandon_flowers
    Closed Accounts Posts: 1,657 ✭✭✭


    Please do not post negative stuff there is a world of threads out there already.

    OK the benefits I see of the IMF taking over are as follows
    1. Getting our economy back on track will take 50-75% less time than if they weren't in charge.
    2. Our banks will begin lending to SMB's sooner which will remove savage pressure currently on them.
    3. A reformed public service, slimmed down with the necessary amount of staff & management (I foresee 100,000 civil servants being made redundant). This is a long term reform but the cuts will be immediate.
    4. Mr Chopra and his gang will make decisions and fast - none of this bumbling around with discussions & cabinet meetings and sub-comittees and ****e. If they have to make a decision it will be one day in one meeting and decision implemented.
    5. Our recovery is dependent on the IMF (professional) not a fool from Offaly and an equally incompetent leader from Mayo.
    6. These will be hard to stomach for some people but paying higher taxes will be crippling for a while but in a long term situation it will benefit the country. The more tax we pay the more money that is available to services - unfortunately most of this money pays for salaries at present and not services. With a higher tax income and lean and efficint services the country will improve no end. Look at Sweden and Norway. It may take 10-15 years but remember making the country like it is at present also took 15 years.
    7. It will remove a lot of deadwood from this country. Free-wheeling doesn't only happen in the public service. I met a business man in his seventies a few weeks ago and he said the IMF will be in before Christmas and he said every time there is a deep recession it really sorts the men from the boys.
    I have full confidence in the IMF - I will pay whatever taxes are expected of me. I will sympathise with anyone who is made redundant but we need to take positives from what is happening. The IMF won't spare anybody either so there is no point saying I'll be hit hardest. What am I going to do? etc etc. Everyone is in for a severe bashing.

    The IMF will reform this country - there is no doubting it. We were completely incapable of doing it ourselves FF/FG/Lab whoever is in power wouldn't have stood a chance.

    Anyone else add positives to the list?


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Comments

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    #2
    kippy
    Registered Users Posts: 18,393 ✭✭✭✭kippy


    I dont expect that the IMF will have the level of granular control you are foreseeing, but then again I didnt expect to see them come in either.


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    #3
    Swampy
    Registered Users Posts: 2,104 ✭✭✭Swampy


    I think I'll go back asleep.


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    #4
    brandon_flowers
    Closed Accounts Posts: 1,657 ✭✭✭brandon_flowers


    kippy wrote: »
    I dont expect that the IMF will have the level of granular control you are foreseeing, but then again I didnt expect to see them come in either.


    I think they will - purely because of the amount of money they will be giving Ireland and how fast they want it paid back. They will be giving us €90-€100 billion at least.


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    #5
    scientific1982
    Closed Accounts Posts: 1,562 ✭✭✭scientific1982


    It'll expose corruption and negligence in our government and public sector.


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    #6
    [Deleted User]
    Posts: 0 ✭ [Deleted User]


    brandon_flowers wrote: »
    I think they will - purely because of the amount of money they will be giving Ireland and how fast they want it paid back. They will be giving lending us €90-€100 billion at least.

    I just can't see how they can lend that much and expect to get it back plus interest!

    The economy simply isn't big enough to support the interest on such a loan let alone the capital.

    If they can let the banks fall, then they will be doing us a great service.


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    #7
    brandon_flowers
    Closed Accounts Posts: 1,657 ✭✭✭brandon_flowers


    Deleted User wrote: »
    I just can't see how they can lend that much and expect to get it back plus interest!

    The economy simply isn't big enough to support the interest on such a loan let alone the capital.

    If they can let the banks fall, then they will be doing us a great service.


    Like Iceland we will be paying it back for 70-80 years. People should realise that we are now Iceland. We have a small economy but thats the hole we have dug and we do need that amount of money to get us out of it. They will look for immediate reform so the world can see how we will pay it back over 70 years. If they gave us 80 billion and now reform we would have it spent in 5 years without a cent paid back. That is how ****ed this country is.

    Edit: I should say lend but with the attitude of "hand the keys back and let the bank sort it out" there is a possibility that we may never pay it back.


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    #8
    Son Of A Vidic
    Registered Users Posts: 32,370 ✭✭✭✭Son Of A Vidic


    scientific1982 wrote: »
    It'll expose corruption and negligence in our government and public sector.

    We can only hope for that indeed. As a former HSE employee, I hope they fcuk out the many wasters the idle with their undeserved privileges within that monolith.


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    #9
    [Deleted User]
    Posts: 0 ✭ [Deleted User]


    I expect the entire global financial system to collapse and be replaced before this loan gets repaid. The world is changing from a growth model to one of declining resources!


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    #10
    Snakeblood
    Registered Users Posts: 4,466 ✭✭✭Snakeblood


    It might crush cronyism as a political force, and send Fianna Fail out to the ****hole they've been digging for the last few decades. Maybe it will end the idea of Rent Allowance as a subsidy for landlords and bring rent in line with the rest of the universe.

    I live in hope at least.


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    #11
    Joe C
    Closed Accounts Posts: 75 ✭✭Joe C


    "I for one welcome our new insect overlords"


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    #12
    Snakeblood
    Registered Users Posts: 4,466 ✭✭✭Snakeblood


    Joe C wrote: »
    "I for one welcome our new insect overlords"

    I hope they introduce a stale meme tax


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    #13
    Jay D
    Registered Users Posts: 2,738 ✭✭✭Jay D


    With a bit of luck people will finally in large, see through the complete bs FF are giving on an absolutely constant basis and we will see change.


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    #14
    drdeadlift
    Closed Accounts Posts: 2,189 ✭✭✭drdeadlift


    nothing like a bit of ah to depress the shiet out of ya.


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    #15
    bigneacy
    Registered Users Posts: 1,222 ✭✭✭bigneacy


    We as a nation got ourselves into this mess. Yes, fair enough - some of us took the piss more than others, some are still taking the piss but they'll get their comeuppance soon.

    The harsh reality is, however, it is now painstakingly clear to the rest of the world and becoming clear to ourselves that we as a nation are unable to get ourselves out of this mess.

    Hopefully:

    The positives to come from this is Fianna Fail will go by the wayside (please, if there's any self respect or dignity left in this country, they will). I'd imagine the next General Election will be cataclysmic for the old guard. We will have a fresh new cabinet with fresh ideas. (i.e. not that mayo ****)

    The old cronyism, backhanders and scandal will be washed away with the rest of the ****e.


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    #16
    brandon_flowers
    Closed Accounts Posts: 1,657 ✭✭✭brandon_flowers


    bigneacy wrote: »
    We as a nation got ourselves into this mess. Yes, fair enough - some of us took the piss more than others, some are still taking the piss but they'll get their comeuppance soon.

    The harsh reality is, however, it is now painstakingly clear to the rest of the world and becoming clear to ourselves that we as a nation are unable to get ourselves out of this mess.

    Hopefully:

    The positives to come from this is Fianna Fail will go by the wayside (please, if there's any self respect or dignity left in this country, they will). I'd imagine the next General Election will be cataclysmic for the old guard. We will have a fresh new cabinet with fresh ideas. (i.e. not that mayo ****)

    The old cronyism, backhanders and scandal will be washed away with the rest of the ****e.

    That is exactly what I would like to see. This country is rotting from the core outwards and its about time to clean out all the ****e that exists in every system in Ireland. HSE suddenly wake up and realise that they have 28,000 staff too many, they only have 140,000 staff thats 20% too many. What a comical ****ing effort? Can you imagine General Electric suddenly realising one day that they have 70,000 employees too many? Hilarious management at the highest level.


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    #17
    ch750536
    Registered Users Posts: 3,736 ✭✭✭ch750536


    Balance will be made between public and private. At the moment the public sector is larger than the private, this means that people find it hard to compete, as you are competing against state services. In the UK at the moment it is far far bigger than the private sector, their collapse will come too.

    So, I expect to see pruning from the public sector and in many cases this being replaced with the private, as long as services are not impacted so be it.


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    #18
    brandon_flowers
    Closed Accounts Posts: 1,657 ✭✭✭brandon_flowers


    ch750536 wrote: »
    Balance will be made between public and private. At the moment the public sector is larger than the private, this means that people find it hard to compete, as you are competing against state services. In the UK at the moment it is far far bigger than the private sector, their collapse will come too.

    So, I expect to see pruning from the public sector and in many cases this being replaced with the private, as long as services are not impacted so be it.


    The only difference is public servants in the UK are paid far lower than their private sector colleagues. Working in the public sector in the UK is nothing like here.


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    #19
    ilovelamp2000
    Registered Users Posts: 2,435 ✭✭✭ilovelamp2000


    What is it like to work in the public service here Brandon ?


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    #20
    brandon_flowers
    Closed Accounts Posts: 1,657 ✭✭✭brandon_flowers


    ilovelamp2000 wrote: »
    What is it like to work in the public service here Brandon ?


    No idea, I work for a living.


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    #21
    ilovelamp2000
    Registered Users Posts: 2,435 ✭✭✭ilovelamp2000


    brandon_flowers wrote: »
    No idea, I work for a living.

    Well at least your opinion is well researched and not based on lazy generalisations.


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    #22
    brandon_flowers
    Closed Accounts Posts: 1,657 ✭✭✭brandon_flowers


    ilovelamp2000 wrote: »
    Well at least your opinion is well researched and not based on lazy generalisations.

    At what is your opinion on our public service so? That it is not over-bloated to the point where it has destroyed the public finances? There is far more workers than work to be done. It is exponentially more in fact.


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    #23
    Kev_ps3
    Closed Accounts Posts: 3,604 ✭✭✭Kev_ps3


    The IMF are adding to our national debt you clowns. Plus FF are finished soon. The IMF coming here is a national disaster and humiliation.


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    #24
    [Deleted User]
    Posts: 0 ✭ [Deleted User]


    brandon_flowers wrote: »
    At what is your opinion on our public service so? That it is not over-bloated to the point where it has destroyed the public finances? There is far more workers than work to be done. It is exponentially more in fact.

    You can't blame the staff for that, just the management (government).
    I dread to think what slashing the PS will do to the length of the queue at the dole office not to mention the unemployment figures.


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    #25
    Johnny Utah
    Registered Users Posts: 2,157 ✭✭✭Johnny Utah


    Pat Kenny, Tubirdy, Marian Finucane, Miriam OCallaghan, and (socialist hero) Joe Duffy will all be forced to take massive pay cuts. So every cloud......:D


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    #26
    Kev_ps3
    Closed Accounts Posts: 3,604 ✭✭✭Kev_ps3


    Johnny Utah wrote: »
    Pat Kenny, Tubirdy, Marian Finucane, Miriam OCallaghan, and (socialist hero) Joe Duffy will all be forced to take massive pay cuts. So every cloud......:D

    Forced? The IMO dont force anything, they give guidelines. Fat chance any party does anything but cut the dole and essential services.


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    #27
    brandon_flowers
    Closed Accounts Posts: 1,657 ✭✭✭brandon_flowers


    Deleted User wrote: »
    You can't blame the staff for that, just the management (government).
    I dread to think what slashing the PS will do to the length of the queue at the dole office not to mention the unemployment figures.


    I am not blaming the staff, look at the HSE they have only opened the redundancy scheme to management - obviously have too many "management" staff. The government never had a redundancy scheme for any civil servant. You stayed in the job until you retired regardless of whether you were needed or not. Now we find it is crazily over staffed and there is no method of removing people or trimming the numbers down.

    Slashing the PS will obv add to the dole queue but the dole payment will be the biggest victim. It will be halved at least by the IMF. Maybe not immediately but they will butcher it.

    We should note that the IMF in their first week in Latvia cut PS pay by 25% in one go. No questions asked. These are the decisions this country is facing. I don't think people realise the power and the not caring attitude the IMF will have. It will be their money being spent and they will watch every cent.

    It was like this country was eating fast food for 10 years and must now loose 10 stone in 6 months.


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    #28
    HalloweenJack
    Registered Users Posts: 7,055 ✭✭✭HalloweenJack


    - FF won't be making our financial decisions anymore.
    - The IMF won't be making decisions based on who they know in the upper echelons of Irish society.
    - They'll actually have the balls to make tough decisions as their only interest in Ireland is about getting their money back, they don't care about getting re-elected.
    - They're going to be hated anyway so it doesn't matter to them how much the public protests their decisions.


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    #29
    mossyc123
    Registered Users Posts: 879 ✭✭✭mossyc123


    brandon_flowers wrote: »
    Our recovery is dependent on the IMF (professional) not a fool from Offaly and an equally incompetent leader from Mayo.

    Your a Dub, yeah?!
    Do you honestly think that where Enda Kenny is from has anything to do with how good a job he'd do?!
    Surely couldn't do any worse then that chancer from Drumcondra hiding in the cupboard anyway!


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    #30
    brandon_flowers
    Closed Accounts Posts: 1,657 ✭✭✭brandon_flowers


    Kev_ps3 wrote: »
    Forced? The IMO dont force anything, they give guidelines. Fat chance any party does anything but cut the dole and essential services.

    Oh yes they do. If the government don't follow the IMF the "bail-out" disappears and so does our country.


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    #31
    brandon_flowers
    Closed Accounts Posts: 1,657 ✭✭✭brandon_flowers


    mossyc123 wrote: »
    Your a Dub, yeah?!
    Do you honestly think that where Enda Kenny is from has anything to do with how good a job he'd do?!
    Surely couldn't do any worse then that chancer from Drumcondra hiding in the cupboard anyway!

    Ya def a Dub!!! With Kerry football in my signature. We have no capable politicains in this country - that is one reason why we are where we are.

    And I might add Kerry has some of the worst politicians. Ferris ran guns, Deenihan played football and the Healy-Raes run their business out of Kerry Co. Council money. I won't mention Sean Kelly.


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