Grassroots campaign for a referendum.

caseyann

A European diplomat, from a large eurozone country, told The Sunday Telegraph that "the more the Irish make a big deal about renegotiation in public, the more attitudes will harden".
"It is not even take it or leave it. It's done. Ireland's only role in this now is to implement the programme agreed with the EU, IMF and European Central Bank. Irish voters are not a party in this process, whatever they have been told," said the diplomat.
In the face of the EU's refusal to substantially renegotiate the austerity programme, Mr Kenny's new government will face a grassroots campaign for a referendum.
Dessie Shiels, an independent candidate in Donegal, said: "People have not been given the basic right of deciding whether or not they should have their taxes increased in order to repay bondholders who have lent to the banks."
David McWilliams, an economist and former official at the Ireland's Central Bank, has led calls for a popular vote under Article 27 of the Irish constitution, which requires on a matter of "such national importance that the will of the people ought to be ascertained".

Sorry if anyone posted this already.
So FG will turn to the people and get us to vote,so he then can tell the EU Irish people said no.
How is this going to turn out.
Clash of David and Goliath perhaps.

"We have to re-negotiate everything," he said. "Obviously, the first way to do this is to make them aware that if they force us to pay everything, we will default and they will get nothing. So they had better get a little bit of something, than all of nothing. To make this financial pill easier to swallow, we must take the initiative politically. We can do this via a referendum.

If the Irish people hold a referendum on the bank debts now, we can go to the EU with a mandate from the people which says No. This will allow our politicians to play hard-ball, because to do otherwise would be an anti-democratic endgame."

Declan Ganley, the Irish businessman who led the 2008 No vote to the Lisbon Treaty, said Ireland must "have the balls" to threaten debt default and withdrawal from the single currency.
"We have a hostage, it is called the euro," he said. "The euro is insolvent. The only question is whether Ireland should be sacrificed to keep the Ponzi scheme going. We have to have a Plan B to the misnamed bailout, which is to go back to the Irish Punt."

Things seem to be panning out the way i believed they would lol
Has FG got the balls or will they fold?

dan_d

It IS done. That's the thing.I don't believe for one second that FG can or will renegotiate anything.

I don't understand why people have such difficulty with this concept. Defaulting is not a real option for us. What it comes down to is that we are pifflingly small little country on the fringes of Europe, who in comparison to other countries in the EU, is a very small fish. We can default all we like, but let's face it, the minute we do that, we are closing ourselves off from the world's markets - and the world's banks. And we cannot function without the EU/IMF money right now. Like it or lump it, that became abundantly clear to us at the end of last year. All it took was a few random remarks by the heads of state of other countries...bigger countries...countries with more power...for the markets to be completely spooked. They believed the Germans/French/Spanish etc - they did not believe us. That in itself should be an indication of where the power lies, and how irrelevant we are.

Enda Kenny has fed people a pack of lies (if indeed there are people out there who genuinely believe he can renegotiate this). The Europeans are not budging on this. There's 4 million of us and about 500 million of them (my source for that is Wikipedia, feel free to correct me).They are not going to let the Euro go down and bring all those countries with it. The economic carnage would be unbelievable, to say nothing of the social carnage.

Why in the world do people actually believe we have an option in this?? That's the bit I genuinely don't understand.

Pete_Cavan

Will those who vote no in this referendum be required to provide the €50bn to cover our budget deficit until 2014 and also the €160bn the ECB are pumping into our banks to keep money in the ATMs?

maccored

can anyone tell me how we are going to pay the interest of the current deal? Since we will default on all debts if we dont.

20Cent

EU will discuss lower interest rates - Rehn

http://www.rte.ie/news/2011/0228/rehn.html


Good work Enda and he hasn't even started yet.

caseyann

20Cent wrote: »

EU will discuss lower interest rates - Rehn

http://www.rte.ie/news/2011/0228/rehn.html


Good work Enda and he hasn't even started yet.

It says to me,they are afraid of the referendum as Irish are finicky lot lol And they see us say thing's like referendum and back to the punt and they become as i said David and Goliath
Should be interesting though to see how low they will go and how fast FG will fold for minuscule amounts.

Kristopherus

Rte reporting it now. Possibility of at least 1% reduction.But Jim Power said that will only save €600m. We should be looking for a minimum Of €1bn. And also be firm about burning the bondholders, is things don't go our way. The time for sentiment is long gone. Gamblers should not be a protected species.

Scofflaw

Kristopherus wrote: »

Rte reporting it now. Possibility of at least 1% reduction.But Jim Power said that will only save €600m. We should be looking for a minimum Of €1bn. And also be firm about burning the bondholders, is things don't go our way. The time for sentiment is long gone. Gamblers should not be a protected species.

This has to be the least accurate meme in the whole debate! Investors aren't gamblers. When you put money into a senior bond, you're not "gambling" - you're putting your money somewhere that's safer than under your mattress, and which has a raft of legal protections attached. An investor in a senior bond is 'gambling' to exactly the same degree as someone who puts their money on deposit.

regards,
Scofflaw