Misstatement of Cowen remarks causes Euro to slide against dollar

turgon

Cowen made a speech that apparently caused the Euro to slide down one US cent on the markets (I read this morning in the Irish Examiner). Basically he insinuated that the International Monetary Fund (IMF) would come in to help with the Irish economy. He didnt say this directly, but reading the transcript at the bottom of the article linked it is easy to see why it was interpreted that way.

Irish Times article:
http://www.irishtimes.com/newspaper/ireland/2009/0115/1231974456135.html?via=rel

Hes supposed to be a Prime Minister; I think speaking to the press is a big issue and he has got to be able to do it right. He was a bit ambiguous in the original interview.

So far one might be a bit embarrassed of the way this country has gone with FF etal in power, but this really tops it all. Not only is he screwing us in some ways, but now hes messing with the EU as a whole. I was very embarrassed reading this article, not for Cowen, but for myself.

Mr.Micro

If true no surprises there. I am utterly appalled so far at his handling of the country, nay shocked. IMO if anything this Government is daily digging us into a deeper hole. If the IMF is to be involved at some stage then how much money was really given to the banks? What a mess. In reality I do believe its a cry for help, and the economy is beyond him and his Government.

lostexpectation

i never uttered the letters imf /cowen

Permabear

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Danuogma

donegalfella wrote: »

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He won't roll the presses, the privately owned federal reserve will.

US national debt:

$ 10,619,917,522,584. 64

Permabear

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Oracle

No you've all got it wrong. What Cowen actually said was that MFI would come in to help the Irish economy. That was an embarrassing mistake because they'd already gone bust last year.

Victor

Can we have the thread title corrected?

turgon wrote: »

Cowen made a speech that apparently caused the Euro to slide down one US cent on the markets (I read this morning in the Irish Examiner). Basically he insinuated that the International Monetary Fund (IMF) would come in to help with the Irish economy. He didnt say this directly, but reading the transcript at the bottom of the article linked it is easy to see why it was interpreted that way.

Irish Times article:
http://www.irishtimes.com/newspaper/ireland/2009/0115/1231974456135.html?via=rel

Hes supposed to be a Prime Minister; I think speaking to the press is a big issue and he has got to be able to do it right. He was a bit ambiguous in the original interview.

So far one might be a bit embarrassed of the way this country has gone with FF etal in power, but this really tops it all. Not only is he screwing us in some ways, but now hes messing with the EU as a whole. I was very embarrassed reading this article, not for Cowen, but for myself.

Did you actually read the article which says in the first paragraph "TAOISEACH BRIAN Cowen stressed yesterday that neither he nor his officials made any reference to the possibility of the International Monetary Fund (IMF) being called into Ireland during a Government briefing with trade unions." and further down it says "“At no stage did the Government make any reference to the IMF. I want to make that absolutely clear,” said Mr Murphy.".

What you have said is blatantly false. If anyone Mr Murphy and RTÉ need to apologise, not Cowen.

sceptre

I've changed the thread title, anyone seeking extra info on the debacle can find it here and here. The original story claiming Cowen said that the IMF could be getting a call has been removed from the RTE site as far as I can see. The Irish Times gave over an editorial (free access) to it today. Reuters are running with a "there's smoke, there may be a fire" slant on page two of this story, though frankly, that seems like a silly line to take on this specific incident.

Looks like simple sloppy reporting from RTE to be honest.

Pride Fighter

turgon wrote: »

Cowen made a speech that apparently caused the Euro to slide down one US cent on the markets (I read this morning in the Irish Examiner). Basically he insinuated that the International Monetary Fund (IMF) would come in to help with the Irish economy. He didnt say this directly, but reading the transcript at the bottom of the article linked it is easy to see why it was interpreted that way.

It is an ingenious rouse by Cowen to make our exports cheaper in America;). It would not surprise me if the IMF came in, maybe 2 years down the line unless something can be done.

K-9

sceptre wrote: »

I've changed the thread title, anyone seeking extra info on the debacle can find it here and here. The original story claiming Cowen said that the IMF could be getting a call has been removed from the RTE site as far as I can see. The Irish Times gave over an editorial (free access) to it today. Reuters are running with a "there's smoke, there may be a fire" slant on page two of this story, though frankly, that seems like a silly line to take on this specific incident.

Looks like simple sloppy reporting from RTE to be honest.

And very expensive reporting too.

turgon

Apologies for all the mistakes In my original post, I was just interpreting what I read, sorry!