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What happens the Government Bank Deposit Guarantee if the I.M.F. move in ??

  • 08-07-2009 4:37pm
    #1
    Uncle Chenzo
    Registered Users, Registered Users 2 Posts: 67 ✭✭


    Can anyone answer this?

    cheers


Comments

  • #2
    ixus
    Registered Users, Registered Users 2 Posts: 2,435 ✭✭✭ixus


    Bot sure it would be affected. IMF would focus on spending cuts.
    IMF is some way off yet, ECB would be before them.

    Read the Quiet Coup


  • #3
    Time Magazine
    Registered Users, Registered Users 2 Posts: 8,452 ✭✭✭Time Magazine


    The IMF don't "move in". They enter on request, when a country cannot pay its debts. The standard approach if the IMF enter is for a country to devalue their currency. As we're in the Euro, we can't devalue our currency.

    So basically the answer is "nobody knows". And it's really quite unlikely anyway. It's more likely that the ECB continue to buy debt off the State until we realise the interest repayments are killing us and we really have to make cuts.


  • #4
    Comordha
    Closed Accounts Posts: 562 ✭✭✭Comordha


    1800 Garda, NO OVERTIME (no matter what)
    900 Army, 100 Navy,
    25,000 reduction in remainder of Public Sector,
    Reduce dole payments by 50%,
    Increase class sizes (even though they are already very high),
    Admit that Metro North is unfeasible

    Then we might be half way there.

    In 2011 we have €4.5 billion worth of loans to repay (excluding interest payments).

    Between 2013 - 2015 €9.2 Billion

    Any ideas anyone?


  • #5
    syboit
    Registered Users, Registered Users 2 Posts: 2,171 ✭✭✭syboit


    a rumour I heard is that IMF can freeze our bank accounts and take a %. Any truth to this ??

    Economist you also mentioned the Euro, can the IMF take us out of the Euro ?


  • #6
    TTNYWWBM
    Closed Accounts Posts: 89 ✭✭TTNYWWBM


    syboit wrote: »
    a rumour I heard is that IMF can freeze our bank accounts and take a %. Any truth to this ?? Economist you also mentioned the Euro, can the IMF take us out of the Euro ?

    I heard they like to eat sheeps eyeballs, and run around stonehenge dressed as Viking Berserkers after eating red and white mushrooms... :D

    'Ireland Inc' for want of a better cliche, while it is in recession is not bankrupt, your answer is that simple I think.


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  • #7
    syboit
    Registered Users, Registered Users 2 Posts: 2,171 ✭✭✭syboit


    TTNYWWBM wrote: »
    I heard they like to eat sheeps eyeballs, and run around stonehenge dressed as Viking Berserkers after eating red and white mushrooms... :D

    was never into that foreign food :)


  • #8
    Time Magazine
    Registered Users, Registered Users 2 Posts: 8,452 ✭✭✭Time Magazine


    syboit wrote: »
    a rumour I heard is that IMF can freeze our bank accounts and take a %. Any truth to this ??
    If he had our own currency what could happen is there could be a devaluation. That's not taking a %, but it would erode the value of the currency, so it's a bit like taking a %. But we don't have our own currency.
    Economist you also mentioned the Euro, can the IMF take us out of the Euro ?
    No. But if we were to become bankrupt, we'd have to leave the Euro afaik. Basically, it can't happen, we have to (and almost certainly will) make the necessary cuts.


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