Positives from IMF takeover?

PeterIanStaker

I'm afraid people are still going to vote FF even after this. Sorry.

ger664

PeterIanStaker wrote: »

I'm afraid people are still going to vote FF even after this. Sorry.

It does not matter who we vote for its the political system thats the problem, no one/party within the system is going to have the balls to make the necessary cuts to public service pension, wages and expenses that result in them losing benefits/elections in the long term.

hondasam

I wish people would stop thinking this is only going to affect the public service it will have consequences right through the private sector also. The private sector relies on the public sector also and if there are huge job losses as most people seem to want then it is inevitable there will be repercussions for the private sector.

PAULWATSON

when it comes to corruption, your mates are boy scouts compared to "da IMF".

mike65

A postive is the crushing humiliation of "Fein an Fail" They will not be allowed to forget this happened on their watch. Useful ammo for the next 30 years or so.

As the IMF decide the parameters of spending local cute hoors will be elbowed out of the equasion, Jackie Healy Rea et al will have no power.

Dionysus

OK. I've read all of this.

I still have one question: Is there a way we, the Irish people, can see Bertie Ahern swinging from a rope just as the Iraqi people could see their former leader swing from a rope?


I am being serious. And to think one Fianna Fáil minister (Mary O Rourke here) in 2007 accused Irish people who condemned the same Bertie Ahern of 'treason'.

It is immoral, utterly immoral, that generations of Irish people should be paying for what this guy presided over -while he has numerous pensions and houses (one of which he was, apparently, given as a present by a property developer).

christina_x

Somebody who has a clue will be in control.
These job losses have to happen, and will happen eventually reguardless. If they can happen and we can get back on our feet as a result then it has to be done i suppose..?

Anyone

They're justified and they're ancient

Monty Burnz

Perhaps it will be a fatal blow to Fianna Failure? One of the biggest possible positives.

mad m

Interesting stuff...Never knew Uk went to the IMF...

http://times.cluster.newsint.co.uk/tol/news/politics/article6973057.ece

I was in the private sector for 13years, worked on sites and basically all over Dublin city. Went into the Public Sector when the building game was at its height.

I wanted a more secure wage, didnt mind at the time I was getting a lot less than what I used to make on the building sites, granted it was a shock at the time but I felt in the long term it would be worth it. I was told I was mad to go into the Public Sector.

My wages at the time 10years ago was nearly half what I was getting on the sites. Then this bench marking came in, we were brought "nearly" in line with what the Private sector was getting. I work hard for my wages, Im not the type to stand around. I will agree with everyone on here that there is a lot of dead wood in some sections of the Public Sector, I've seen it. Some people wouldn't scratch their arse and moan about it if they have to do it.

My worry is this likes of me and others who do care in their day to day jobs will get the chop because of the IMF recomendations about the Public Sector.

dr ro

Public sector worker here too. we had plumbers telling us they wouldn't get out of bed for the money we were making a couple of years ago, but that's slightly off topic. This situation didn't start with ahern, go back to haughey then through all ff leaders and finance ministers. They should all share blame and justice for treason.

Terry

I haven't read the thread, but if the IMF shuts people up for a few weeks, then it will be worth it.

I'm off to have some scrambled eggs with Jalepenos.
Enjoy your night AH.

Duiske

Deleted User wrote: »

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

Me neither. The interest rate is expected to be in the region of 5%. Thats starts us with about €5 billion per year just on interest. If we had to pay back €100 billion over 20 years, the 1st year (incl interest) would be €10 billion.
2nd year - €5 billion (plus 5% of €95 billion) = €9.75 billion, and so on.

Around €152 billion in total, averaging €7.6 billion per year over the life of the loan.

Just under €40 per week for the next 20 years for every man, woman and child in the country should cover it.

Sweet Jesus :eek:

delaad

They'll screw it up too!

Its a lucky guess what the losses of the Irish Banks are. Like all bankers the imf'll be too conservative in their call, just as were our mandarins in the dept of finance.

Its unlikely that there is any solution to the problems of the Irish economy within the Eurozone, i.e one that is to the benefit of Irish people.

Remember folks, this present crisis is about saving the Euro.

Remember the French and Germans broke the Stability Pact in 2003/4.

Ireland's in a strong position here.

The Euro is at the mercy of the "markets".

Lets not be too much in a hurry doing a deal.

Duiske

Duiske wrote: »

Me neither. The interest rate is expected to be in the region of 5%. Thats starts us with about €5 billion per year just on interest. If we had to pay back €100 billion over 20 years, the 1st year (incl interest) would be €10 billion.
2nd year - €5 billion (plus 5% of €95 billion) = €9.75 billion, and so on.

Around €152 billion in total, averaging €7.6 billion per year over the life of the loan.

Just under €40 per week for the next 20 years for every man, woman and child in the country should cover it.

Sweet Jesus :eek:

You ain't seen nothing yet! :eek:

https://www.youtube.com/watch?v=iWp6QIEeSzY

AFTER 2.5 YEARS OF SPECULATION --- THE INTERNATIONAL MONETARY FUND & THEIR EUROPEAN CENTRAL BANK CRONIES - have finally arrived in Dublin to examine the ' REAL BOOKS ' belonging to our discredited & insolvent Banks .

When we accept their 60 - 80 Billion Euro ' BAILOUT ' - the total borrowings
our Government will have to service , will amount to approx 275 Billion Euros.
Apart from paying back the capital sum - WE HAVE TO FIND BETWEEN 8 - 9
BILLION EUROS P.A. -- JUST TO SERVICE THIS DEBT.
WHEN INTEREST RATES GO UP - MATTERS WILL GET VERY INTERESTING INDEED

Run_to_da_hills

Not a fan of IMF at all however one positive thing I could forsee and that could be the break up and privatization of CIE.

animaal

There are too many vocal vested interests that the government are afraid to tackle - unions, those claiming to represent "the most vulnerable in society" (while the really vulnerable are ignored and left to raise their own funds), the grey army.

If it was up to this government, the burden would almost all fall on the shoulders of the middle earner.

At least the IMF would spread the burden evenly.

If the government had any cop-on, they'd use the opportunity to implement the reforms (to tax and spending) that need to be made regardless of the recession. They'd be able to say "The IMF are making us do it". But instead, they're pretending the IMF are only here to watch us play New Zealand.

It depresses me that our current "leaders" will be back in power in five years time.

See Ye

Anyone wrote: »

They're justified and they're ancient

[/thread]

md12

The one most probable positive is that we get rid of the incompetent fools we have running the country. They are trying to safe face right to the end. Reminds me of the soldiers who climbed out of the trenches in WW1 to be met by a hail of machine gun fire and certain death, Why did they do it??? Answer,TO SAVE FACE!!!!
(2) we get rid of most of the dead wood in the public sector.
(3) we get rid of the unions, Jack O' connor preferably and give his 150k salary to someone who deserves it. This guy really irritates me. He thinks the government can pull wads of cash out of their a*ses.

I hope things work out for this country and we get out of this mess but we won't get any help from those wasters in the Dail. I don't have the stomach to vote for any of them when the time comes.

mike65

md12 wrote: »

Reminds me of the soldiers who climbed out of the trenches in WW1 to be met by a hail of machine gun fire and certain death, Why did they do it??? Answer,TO SAVE FACE!!!!

They did that cos they were working class "honest tommys" who did what they were told to do. Not to save face.

md12

mike65 wrote: »

They did that cos they were working class "honest tommys" who did what they were told to do. Not to save face.

They did that because they didn't want to be seen as cowards and failures just like our government who didn't have the b*lls to admit how much sh*te we were in.

mike65

Terrible parrallel to draw IMO.

squod

md12 wrote: »

The one most probable positive is that we get rid of the incompetent fools we have running the country.

They're not incompetent fools. I don't understand people who come out with this line. They knew what they were doing. It's only recently that the media have started putting this point across.

Let me quote Mr Rehn's admirably frank reminder: "We need to recall that sovereign debt has not been at the origin of the crisis. Rather, private debt has become public debt. The financial sector has misallocated resources in the economy and then stopped working."

Gene Kerrigan: Elite stand ready to serve new overlords

We as a people on this island are the laughing stock in the worlds eyes. Not the politicians who brought this bounty to their masters.

Noreen1

Dionysus wrote: »

OK. I've read all of this.

I still have one question: Is there a way we, the Irish people, can see Bertie Ahern swinging from a rope just as the Iraqi people could see their former leader swing from a rope?


I am being serious. And to think one Fianna Fáil minister (Mary O Rourke here) in 2007 accused Irish people who condemned the same Bertie Ahern of 'treason'.

It is immoral, utterly immoral, that generations of Irish people should be paying for what this guy presided over -while he has numerous pensions and houses (one of which he was, apparently, given as a present by a property developer).

I agree with most of what you posted, Dionysus.
The only issue I have is with the idea of the death penalty - though keeping him in that cupboard with the sports pages for the rest of his life looks more and more tempting.....:D:D

Noreen

mad m

mike65 wrote: »

They did that cos they were working class "honest tommys" who did what they were told to do. Not to save face.

Well if they didnt get up out of those trenches, they were going to face court marshall and be shot. So damned if you do and damned if you dont....