IMF - Big Bad Wolf?

Biggins · 03-11-2010 06:24PM

Amhran Nua wrote: »

The saddest thing about the whole situation is we don't need the IMF to tell us anything, its as plain as the nose on Cowen's face what we need to do. If it does reach the stage that they are called in, it'll really be an effort to pass the blame by whoever is in charge at the time.

I agree what your saying but I don't think they would be passing the blame, just naming some of those that brought the mess about in the first place if they are by then, still in power!

Biggins · 03-11-2010 06:25PM

Morlar wrote: »

Ireland's economic reputation is already adversely affected for years to come. That is a fact regardless of IMF intervention or not. It's arguable that the IMF would at least put an end to the the slow motion car crash we have all been in for the last few years.

I think they will slash and burn and some people and services will be adversely affected - but that's the situation we are in and the alternatives appear worse to me at this stage. FF /greens can not be trusted - we are years down the road and the hole is still getting bigger and bigger, they still have not tackled any of the core issues such as public sector, HSE, welfare burden nor have they come clean with exactly how screwed things really are. They are hoping to bluff their way out of it by getting lucky and no one in the intl community finds them remotely credible. That is my 'non-financial background' off the cuff take on it.

I don't think is there is much there, if anything, I disagree with.

Sizzler · 03-11-2010 06:26PM

In summary, they will basically do the things the govt doesnt have the balls to do.

A footnote to this is Jack O'Connor & David Begg will be on the scratcher as well when their members realise their union isnt worth toss all.

Morlar · 03-11-2010 06:27PM

Biggins wrote: »

I don't think is there is much there, if anything, I disagree with.

I'd agree with you that every single shred of hardship caused by an imf intervention would be 100% the fault of the green party and fianna fail.

Duck's hoop · 03-11-2010 06:29PM

Amhran Nua wrote: »

The term "enormous middle management rump" is doing the rounds a lot these days.

For sure. Lot of fat to be trimmed. Only those at the bony end will no doubt be hurt the most.

Keith186 · 03-11-2010 06:29PM

We should take the IMF money to sort us out then pay them back Cavan style.

Ill pay ya next week, no actually the one after that. Actually no the one after that. We'll probably pay ya back sometime, maybe.

That'll learn em!

Tigger · 03-11-2010 06:36PM

Lumen wrote: »

There's no way a wolf can take an elephant.

badass timberwolf could take a weak old fat elephant like the hse

southsiderosie · 03-11-2010 06:37PM

Ireland needs to do what Argentina did and find itself an international Sugar Daddy to buy its bad debt and give it cheap oil. Too bad the government was cozying up to Washington instead of Chavez. :pac:

cson · 03-11-2010 06:46PM

Ireland only needs a lend of €25? I'll lend it to them! :pac:

On topic and in all seriousness be careful what you wish for; I think we will need IMF/EU Rescue Fund intervention by February next year and it won't be pretty. You can delight in having Political salaries and PS Workers pay absolutely gutted but remember that it'll also result in some of the following;

Airport Metro - Gone. Along with anything resembling non essential capital expenditure.

Local Hospitals - Gone. Expect to see these close and everything relocated to the main regional centres. i.e. think Ennis and Nenagh hospitals gone and Limerick Regional picking up the slack.

Tax - Going up up up. Minimum wage earners would included in the tax bracket. Probably change tax bands to 25% and 50%

University Fees - In, in a big way. Expect them to dictate that each University or IT be self funding.

Those are just some of the not so desirable things that may happen.

bleg · 03-11-2010 06:56PM

It's game over already. It's not likely that the interest rates on our bonds will fall below 5% by the Spring time. The leadership of this country (all members of the Oireachtas) have shown themselves time and time again to be completely incompetent during good times and bad. Dept of Finance figures haven't been right in years. We have a barrister as Minister for Finance and a weak Government. These aren't really things that inspire confidence in an investor.

Put yourselves in their shoes, would you invest in Ireland's bonds? I definitely wouldn't.

The NTMA delayed us going to Europe/the IMF but the outcome is inevitable.

Coriolanus · 03-11-2010 06:59PM

cson wrote: »

Airport Metro - Gone. Along with anything resembling non essential capital expenditure.
Lets see if its gets done on time and under budget. Given Irelands past history in fúcking up capital projects like this (M50, luas, slash and burning the train network, Tara etc) maybe being forced to stop this would be a good thing.
Local Hospitals - Gone. Expect to see these close and everything relocated to the main regional centres. i.e. think Ennis and Nenagh hospitals gone and Limerick Regional picking up the slack.
Funny that, the Govt is already slashing services to prepare the way for closures under thier watch.
Tax - Going up up up. Minimum wage earners would included in the tax bracket. Probably change tax bands to 25% and 50%
Again, probably going to happen in the next five years anyway. Looking at the figures they're looking to cut, they're not going to find all the money they can just by dumping services. Taxes can and will go up.
University Fees - In, in a big way. Expect them to dictate that each University or IT be self funding.
Hai registration fees taking a massive spike in the last few years!
Those are just some of the not so desirable things that are happening already.

There we go.

IMF - Big Bad Wolf?

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