Irish bond yields rise above 6% greece is lower

digme · 07-09-2010 01:45PM #1

So we play by the rules and we get shafted in the ass, while the Greeks
go out and protest and get a lower rate than us.Makes my blood boil.

Skrynesaver · 07-09-2010 02:20PM

Looks like the ECB came into the market after lunch and bought all round them.

Thank $DEITY that Frankfurt can't afford us to default yet

However borrowing €20bn per anum is not going to be tolerated any more

07-09-2010 02:44PM

The markets are just bored again and looking for a new bogey boy.
The ECB won't let us go the way of greece so this is just academic really.

Look on the bright side,if we can't source funds at a reasonable rate on the markets,then the EU will step in and enforce spending controls on us,the likes of which we can't politically do properly ourselves.

ei.sdraob · 07-09-2010 03:01PM

digme wrote: »

So we play by the rules and we get shafted in the ass, while the Greeks
go out and protest and get a lower rate than us.Makes my blood boil.

Greece doesn't have a government called Fianna Fail and doesnt have a bank called Anglo

Oh and markets dont care about "fairness" and "playing by the rules"
they care about having the economy being sensibly run

Anglo is flesh wound in our side which is going septic, and the voulchers are circling, now where did I put that popcorn machine

Denerick · 07-09-2010 03:21PM

ei.sdraob wrote: »

Anglo is flesh wound in our side which is going septic, and the voulchers are circling, now where did I put that popcorn machine

The REPO men took it away.

whatawaster · 07-09-2010 03:26PM

digme wrote: »

So we play by the rules and we get shafted in the ass, while the Greeks
go out and protest and get a lower rate than us.Makes my blood boil.

How did we play by the rules? We were imprudent for years with our spending and our regulation, and now the likes of Germany are probably going to have to pay the price.

I’d say that makes their blood boil.

stumpypeeps · 07-09-2010 05:21PM

whatawaster wrote: »

How did we play by the rules? We were imprudent for years with our spending and our regulation, and now the likes of Germany are probably going to have to pay the price.

I’d say that makes their blood boil.

Germany has reaped more rewards than any other European Country from membership of the EU. They may contribute to new member states and member states in difficulty but their reward is a stranglehold on said members imports.

Denerick · 07-09-2010 05:37PM

stumpypeeps wrote: »

Germany has reaped more rewards than any other European Country from membership of the EU. They may contribute to new member states and member states in difficulty but their reward is a stranglehold on said members imports.

Germany has been a net contributor to EU funds from the start. They have to pay the largest share of a bail out fund for lazy and corrupt Greeks whilst their own citizens have to retire at 68. Don't diss the Germans - the last thing you'd want is for them to leave the EU. Who'd write the checques then?

stumpypeeps · 07-09-2010 05:44PM

Denerick wrote: »

Germany has been a net contributor to EU funds from the start. They have to pay the largest share of a bail out fund for lazy and corrupt Greeks whilst their own citizens have to retire at 68. Don't diss the Germans - the last thing you'd want is for them to leave the EU. Who'd write the checques then?

The Germans are hardly a charity. They control fiscal policy in order to serve their own ends. Such as inflation, wages are very low in Germany allowing them to undercut the rest of Europe.

Sand · 07-09-2010 05:52PM

The Germans are hardly a charity. They control fiscal policy in order to serve their own ends. Such as inflation, wages are very low in Germany allowing them to undercut the rest of Europe.

Damned Germans - why cant they let spending get out of control and die in a fiscal fire like we did?

stumpypeeps · 07-09-2010 05:58PM

Sand wrote: »

Damned Germans - why cant they let spending get out of control and die in a fiscal fire like we did?

They're far too prudent.

They're the sort of people who after pints til close at the pub and with work in the morning, go home and not to the local nightclub. Forsprung dirch technique or something.

Einhard · 07-09-2010 06:23PM

stumpypeeps wrote: »

They're far too prudent.

They're the sort of people who after pints til close at the pub and with work in the morning, go home and not to the local nightclub. Forsprung dirch technique or something.

And we're the type of people who say fuck work, head to the nightclub, splash all our money on booze, get shitfaced, have a great time, wake up the next morning and ask the Germans for a lend because we wasted all our money. And then have the cheek to laugh at them for being dry!

stumpypeeps · 07-09-2010 06:27PM

Einhard wrote: »

And we're the type of people who say fuck work, head to the nightclub, splash all our money on booze, get shitfaced, have a great time, wake up the next morning and ask the Germans for a lend because we wasted all our money. And then have the cheek to laugh at them for being dry!

We're the loveable rogues of Europe!

Einhard · 07-09-2010 06:37PM

Yeah I'm sure the average German taxpayer is tickled pink by our antics.

Stinicker · 07-09-2010 06:38PM

stumpypeeps wrote: »

The Germans are hardly a charity. They control fiscal policy in order to serve their own ends. Such as inflation, wages are very low in Germany allowing them to undercut the rest of Europe.

We are entering a truly calamitous period in the World. Germany can only prop up its Empire the EU for so long; Ireland, the UK, Italy, Portgual, Spain and Greece will all default on Sovereign debt. Ireland is sailing blindly into an Argentinian style financial mess. Every single person in this country will wake up some morning before the end of next year only to discover every cent they had in the bank has been seized by the Government.

Euro's will be exchanged for Nua Punts which will devalue by power of ten the following day. Gold is no longer a safe bet I also firmly beleive.

stumpypeeps · 07-09-2010 06:41PM

Einhard wrote: »

Yeah I'm sure the average German taxpayer is tickled pink by our antics.

I think Germans know all about recieving hand outs.

R P McMurphy · 07-09-2010 06:41PM

I am sure the German weapons companies were delighted that we had to borrow from German banks to give to the Greek government so they in turn could fulfill their agreed purchases with these German companies

Einhard · 07-09-2010 06:48PM

Stinicker wrote: »

Ireland is sailing blindly into an Argentinian style financial mess.

Well considering that Argentina has enjoyed an economic boom since 2003, the future looks bright! Thanks for helping to lift some of the gloom Stinicker!

R P McMurphy · 07-09-2010 06:50PM

When you think about it, we are being made complete and utter mugs by the German government, borrowing heavily from German banks at high interest rates in order to give to Greece, a substantial portion of which went back to German weapons companies. The Greek government were under serious pressure from the German government to do this. Here it is painted that the German government is like some saintly figure bestowing its benovelent blessings upon us

Einhard · 07-09-2010 06:54PM

R P McMurphy wrote: »

When you think about it, we are being made complete and utter mugs by the German government, borrowing heavily from German banks at high interest rates in order to give to Greece, a substantial portion of which went back to German weapons companies. The Greek government were under serious pressure from the German government to do this. Here it is painted that the German government is like some saintly figure bestowing its benovelent blessings upon us

When you think about it....we're not borrowing from German banks. It's an open bond market. And we've made mugs out of ourselves. We don't need any help from outsiders.

R P McMurphy · 07-09-2010 06:57PM

It is an open bond market but the reality is that ourt borrowings are now predominantly from German banks. The fact that we are subsidising the forced Greek military spending on German weapons does make us mugs or can you not see this

R P McMurphy · 07-09-2010 07:00PM

Add to this that German banks lended in a reckless manner to Irish banks as well. They are hardly role models and played their part in our downfall. Are no bastions of virtue that some would have people believe

ei.sdraob · 07-09-2010 07:12PM

Einhard wrote: »

Well considering that Argentina has enjoyed an economic boom since 2003, the future looks bright! Thanks for helping to lift some of the gloom Stinicker!

erm your they have a higher chance of default than us, and its not hard to grow when you have hit the bottom

lets admire for a moment the lovely club of failed states that we have joined

Colonel Sanders · 07-09-2010 07:22PM

digme wrote: »

So we play by the rules and we get shafted in the ass, while the Greeks
go out and protest and get a lower rate than us.Makes my blood boil.

Indeed. After all we did introduce "the cheapest bailout in the world so far". Our government didn't rush into the banks "without knowing precisely what the position is in those banks”.

Don't worry, our glorious Taoiseach has spoken and reassured all the doubters. This is merely part of the 'ebbs and flows' which have been a feature of the markets in recent months. :rolleyes:

More fiddling while Rome is engulfed in a raging inferno :mad:

southsiderosie · 07-09-2010 07:32PM

ei.sdraob wrote: »

erm your they have a higher chance of default than us, and its not hard to grow when you have hit the bottom

lets admire for a moment the lovely club of failed states that we have joined

Well, luckily for them, it looks like Argentina's decennial economic meltdown will be overshadowed by the collapse of the euro.

Good lord, what a depressing list.

Anita Blow · 07-09-2010 08:19PM

I may be wrong, but isn't the title wrong and misleading?
According to IrishTimes today Greece is around 947 basis points while Ireland is around 370?
http://www.irishtimes.com/newspaper/breaking/2010/0907/breaking33.html?via=mr

southsiderosie · 07-09-2010 08:35PM

Anita Blow wrote: »

I may be wrong, but isn't the title wrong and misleading?
According to IrishTimes today Greece is around 947 basis points while Ireland is around 370?
http://www.irishtimes.com/newspaper/breaking/2010/0907/breaking33.html?via=mr

I think they mean a historic high for Ireland, not the euro zone as a whole.

Anita Blow · 07-09-2010 09:35PM

But then why does the title say Greece is lower?

strathspey · 07-09-2010 09:52PM

stumpypeeps wrote: »

We're the loveable rogues of Europe!

I though the Irish were the n*ggers of Europe?

galwayrush · 07-09-2010 09:53PM

Einhard wrote: »

Yeah I'm sure the average German taxpayer is tickled pink by our antics.

Yes, i heard they are quite tikled by our Government's and their advisors amazing salaries and pension plans.............

Stinicker · 07-09-2010 10:33PM

R P McMurphy wrote: »

When you think about it, we are being made complete and utter mugs by the German government, borrowing heavily from German banks at high interest rates in order to give to Greece, a substantial portion of which went back to German weapons companies. The Greek government were under serious pressure from the German government to do this. Here it is painted that the German government is like some saintly figure bestowing its benovelent blessings upon us

I think it is highly wrong for anyone to try and blame the Germans for any of the mess we are in; they have bailed us out and kept us out of the gutter for the last two years and for this I am very thankful. If Irish people had half the credibility that the Germans had we would be a better nation. We as a nation should be collectively ashamed that we have allowed our own Government to continue in office when they continue to destroy the economy of this country to protect their own vested interests.

The Germans have every right to screw Ireland and the Greeks like this; they did not create this mess and are right to profit from the fools who wrecked themselves.

We need to do an "Iceland", get rid of the Government, leave the Euro, relaunch a newly devalued currency, get people back to work, by lowering our costs we can get our economy back on track. We should focus primarily on, Tourism, Agriculture, Low Corporate Tax. Our Agricultural Industry can drive exports and bring in Hard Currency, a devalued Punt and lower costs will attract back Tourists which will bring in more currency.

We have no choice but to slash spending and raise taxes, force people back to work by cutting welfare and wages, then be prepared for ten to fifteen years of vastly lower living standards and less of everything as we pay off the Sovereign debt.

As it stands we are facing immediate default and possible IMF intervention and if this happens poverty will be the norm and we will end up like Russia of the 1990's with rampant inflation and general depression.

Either way we are screwed - Thanks Bertie.

Irish bond yields rise above 6% greece is lower

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