Ireland ahead of its Peers - Say thanks ICTU

Tora Bora

Seems like we sold another batch of bonds this morning, so we can pay our heroic public service their salaries next month. Bet the boyos up in Liberty Hall, are secretly clapping their hands.

http://blogs.wsj.com/marketbeat/2010/05/18/ireland-ahead-of-its-troubled-peers/

Ireland Ahead of Its Troubled Peers

By Neil Shah

Ireland proved again on Tuesday that it stands at a slight distance from its troubled euro-zone peers Greece and Portugal.
The Emerald Isle’s debt managers easily sold €1.5 billion of new bonds to investors happy to gobble them up: Demand outstripped the available supply of bonds by about three times.
“With this issuance … Ireland should have completed more than 65% of the supply scheduled for this year,” says Chiara Cremonesi, an analyst at Italian bank UniCredit SpA, in a note. “It is the most advanced country in terms of progress of funding among periphery, as well as in the eurozone, after Slovenia. This, coupled with the austerity program, which was welcome by investors, should represent a favorable factor for Irish bonds going forward.”
Of course, the European Central Bank’s bond-buying program is helping to keep a lid on any outbreak of investor jitters. The interest rate that Ireland has to pay to borrow from the private market for 10 years has been remarkably steady in recent days, standing now at 4.76% — where it was Monday evening. Similar rates for Portugal, Spain and Italy have also quieted down, largely due to the ECB’s moves.
But Ireland should also get some credit for protecting its credibility with investors, who have been comfortable with its bonds partly because the country went first in detailing major fiscal reforms.
The next –- and more important -– test for Europe’s troubled bond markets: Spain, which sells between €2.5 billion and €3.5 billion Thursday after running into weak demand for its Treasury bills earlier today

douglashyde

I wonder if this would have been the same if we didnt cut our public sector wage or we didn't set up NAMA.

I'm starting to think Irish people just like complaining.

Banned Account

Surely you jest good sir, Irish people, complain? never.



P.S. don't say the N word, it summons the angry feckless ones ...

Tora Bora

douglashyde wrote: »

I wonder if this would have been the same if we didnt cut our public sector wage or we didn't set up NAMA.

I'm starting to think Irish people just like complaining.

Secretly though the beards love NAMA So much so they want another one "NAMA for the little guy". Matt Pooper, I mean Cooper will be the chairman, and Eamo Dunphy and few more of his ilk will be on the board of misdirectors.:pac:

ei.sdraob

you used the B word oh noes

Banned Account

Tora Bora wrote: »

Secretly though the beards love NAMA So much so they want another one "NAMA for the little guy". Matt Pooper, I mean Cooper will be the chairman, and Eamo Dunphy and few more of his ilk will be on the board of misdirectors.:pac:

NAMA for the little guy - this term proves that the advocates have little idea about how NAMA works in the first place and it really gets my goat when i hear it being bandied about.

Under NAMA for the little guy, the mortgage would be transferred to NAMA who would give the banks promissory notes in exchange. The little guy would then have to continue paying the same mortgage and, if he defaulted, he would lose his house.

Why is this any better - perhaps they think that the NAMA baliffs might be better looking?

Either a stupid idea, or a stupid title which is just playing on media generated hysteria.