Did we say 'thanks'?

Nolanger

Did anyone in the Irish government say 'thanks' to Britain and the other countries who offered bi-lateral loans to help bail us out? If so, how was this done? If not, should the Irish government have said 'thank you'?

MagicMarker

They didn't give money to us for nothing, so why should we say thanks?

Scofflaw

MagicMarker wrote: »

They didn't give money to us for nothing, so why should we say thanks?

For lending us money at a good deal less than the markets would?

cordially,
Scofflaw

parsi

I'm sure they clicked the thanks button on the super-secret governments.eu forum....

ZYX

Nolanger wrote: »

Did anyone in the Irish government say 'thanks' to Britain who offered bi-lateral loans to help bail us out? If so, how was this done? If not, should the Irish government have said 'thank you'?

They borrowed money at 4% (or so) promised to lend it to us at over 5% so we could give it to our banks, so our banks could repay their banks, so they wouldn't have to bail out their own banks. Even more so they will only give it to us if first we use our own pension reserves.

Yeah. Thanks a bunch.

ei.sdraob

Scofflaw wrote: »

For lending us money at a good deal less than the markets would?

cordially,
Scofflaw

Its not as if they did it our of goodness of their hearts, if we went down they would have to bailout some rather big banks at much higher expense.

Scofflaw

ei.sdraob wrote: »

Its not as if they did it our of goodness of their hearts, if we went down they would have to bailout some rather big banks at much higher expense.

Still, we needed it, and got it. That it served their interests as well as ours doesn't change that.

cordially,
Scofflaw

Scofflaw

ZYX wrote: »

They borrowed money at 4% (or so) promised to lend it to us at over 5% so we could give it to our banks, so our banks could repay their banks, so they wouldn't have to bail out their own banks. Even more so they will only give it to us if first we use our own pension reserves.

Yeah. Thanks a bunch.

Eh, but we were already bailing out our banks - heck, we were bailing out a bank everyone else wanted us to shut down. That's maybe why they preferred that we use our own money to bail out our banks - who else would want to see their taxpayers' money disappearing into Anglo?

cordially,
Scofflaw

zig

Scofflaw wrote: »

Still, we needed it, and got it. That it served their interests as well as ours doesn't change that.

cordially,
Scofflaw

so that means they should be thanking us as well!!:D

redto

parsi wrote: »

I'm sure they clicked the thanks button on the super-secret governments.eu forum....

we can read the letters on wikileaks in a year or so:)

Scofflaw

zig wrote: »

so that means they should be thanking us as well!!:D

Oh, strictly speaking Portugal and Spain, maybe Italy too, ought to be nicely grateful. I'm sure we can take receipt of their thank-you about the same time we deliver ours...

Mind you, a bit of a real genuine no-strings thank-you is owed to Sweden and Denmark, who really had no reason to stump up anything.

cordially,
Scofflaw

ei.sdraob

Scofflaw wrote: »

you, a bit of a real genuine no-strings thank-you is owed to Sweden and Denmark, who really had no reason to stump up anything.

Irish Branch of Danske Bank....

Clarehobo

Nolanger wrote: »

Did anyone in the Irish government say 'thanks' to Britain and the other countries who offered bi-lateral loans to help bail us out? If so, how was this done? If not, should the Irish government have said 'thank you'?

Yup - Lenihan said it during the two Brians televised press conference announcing the IMF bailout. Britian was the first country mentioned during the thank yous.

Japer

MagicMarker wrote: »

They didn't give money to us for nothing, so why should we say thanks?

Because if Britain and the other EU countries did not lend us money, we would have to have a 0% budget decefit this year....because we could not borrow money from anyone else. We could not even borrow on the bond markets @ 9% because if the bond markets saw that even the IMF would not lend to us, neither would they then.
a 0% budget decefit would mean we spend 30 billion this year + hope to take in 30 billion in taxes. Spending 30 billion means a 40% cut in public sector wages, social welfare, all government spending etc....it would probably mean more even as tax revenue would fall further if that happened.

Britain lent us the money because if society really broke down here / there was rioting for food etc on the streets, then half a million Irish people would suddenly arrive in the UK looking for support.

ei.sdraob

Japer wrote: »

Because if Britain and the other EU countries did not lend us money, we would have to have a 0% budget decefit this year....b.

bull****

They should have loaned us the money at no interest.
the alternative is the country and its banks defaulting bringing down euro and banks outside the euro with it
Then they would have been queueing to give us money at no interest to keep our and their pyramid scheme going

as for the deficit we have to address it sooner or later no more kicking the can down the road in this scenario, anyways if we default on national debt then thats 5-8 billion a year we dont have to pay in interest

Japer

ei.sdraob wrote: »

bull****

They should have loaned us the money at no interest.

Looking at it from their point of view, we have been the beggars of Europe up until this crises. Think of all the tens of billions in various EC grants we got since the seventies etc. We then are a tax haven, and entice their companies and other companies to launder their profits through Ireland to avail of 12.5% corporation tax rate.

"They should have loaned us the money at no interest."....if a down and out cannot borrow money anywhere else, and goes to a moneylender, who is he to say "he should have loaned us the money at no interest".

We could be forced to borrow money at double digit interest before too long, if we can borrow it at all

ei.sdraob

Hey I am every pro EU as anyone who has been here for a while knows that


But the ECB have really let us down, they gave the banks are clean bill of health in the stress farce tests.
It is their responsibility now to deal with these banks, instead the problem was dumped once again onto the taxpayer and the pensions piggy bank has to be raided.
Thats where the EU/ECB have crossed the line with me, what they have done is un-honorable and shown no solidarity hence why i think threatening them with default is now justified.

they have the printing presses they should be the ones bailing out the banks. And yes I argued against QE before, but now we are being made fools of. enough!