EU-IMF and the Banks

Cheapo

Quick Question - Now with the EU-IMF in town to discuss the bail out and analysis our figures, will they be giving direct access to the Banks books or will the Banks only be giving summaries to them? If this is the case could the Banks hide their numbers like they did to the government just before the Guarantee?

Liam Byrne

I hope the IMF get access to them, because we currently have no proof that they did indeed hide the figures from the government; we only have FF's word for it.

Yes, the above is a little CT, but if the government had actually taken minutes at the relevant meeting we would know what led to their decisions; as it is, we only have the word of a discredited and unbelievable group of characters who vote confidence in fellow con-men and wash their hands of unfairness and dodgy goings-on, refusing to intervene or act for the good of the country.

thebman

Cheapo wrote: »

Quick Question - Now with the EU-IMF in town to discuss the bail out and analysis our figures, will they be giving direct access to the Banks books or will the Banks only be giving summaries to them? If this is the case could the Banks hide their numbers like they did to the government just before the Guarantee?

Well at this stage, they'd most likely exaggerate their problems to get more money TBH.

Bob_Latchford

what happened to the "stress test"

Was it a poor test or were the figures massaged?

Tim Robbins

Knock Knock!
Who's there? IMF!
IMF who?
I M F ing serious, you better let me in to your country.

ei.sdraob

Bob_Latchford wrote: »

what happened to the "stress test"

Was it a poor test or were the figures massaged?

The tests where all a farce

Gurdiev wrote:

In the case of AIB – the sick puppy was ‘passed’ by allowing to include into regulators’ calculations the €7.4 billion the bank plans to raise by the end of 2010. Good intentions count for hard evidence, then, per EU regulators. And Bank of Ireland passed - along with all the rest of the PIIGS banks is by the test excluding any possibility of twin shocks - simultaneous continued deterioration in quality of loans and a sovereign debt crisis

Bob_Latchford

Honohan reckons the loan is 10s of Billions.

So something is really very wonky with the stress test. ECB should hold up their hands to that one.

thebman

Bob_Latchford wrote: »

Honohan reckons the loan is 10s of Billions.

So something is really very wonky with the stress test. ECB should hold up their hands to that one.

yes the stress tests were an attempt to manipulate the markets.

It worked fantastically :P

You can't blame them for trying given how large the problem is and how likely it is to all fall down.

Personally I think a proper stress test would have just made us have to go to the IMF sooner so maybe bluffing it bought us some time but who knows.

Scofflaw

Cheapo wrote: »

Quick Question - Now with the EU-IMF in town to discuss the bail out and analysis our figures, will they be giving direct access to the Banks books or will the Banks only be giving summaries to them? If this is the case could the Banks hide their numbers like they did to the government just before the Guarantee?

I suspect they'll be somewhat more thorough than our government ever was. Had the Irish banks been properly regulated for the last decade they wouldn't have been able to lie to the government - mind you, the same applies to the government and the people.

cordially,
Scofflaw

Tim Robbins

Did you hear the Gardai arrested two senior members of the IMF?

Apparently they had no problem getting a bailout.