Bailout megathread.

Permabear · 12-11-2010 01:33PM

This post has been deleted.

ei.sdraob · 12-11-2010 01:33PM

mathie wrote: »

Thanks.

So the gubberment can say 'Sure it wasn't us who cut your social welfare it was dem evil lads in Europe.'

They're like cornered rats now.

Yeh thats why IMF have such a reputation, the people who ****ed up the countries they have to sort out endup blaming them, same will happen here with respect to whoever bails us out. Hmm didnt Morgan Kelly write about rise of Euroscepticism? we already have people blaming europe for everything

Scofflaw · 12-11-2010 01:35PM

I'm afraid that at this point we can expect a new rumour every day - we've had "rumoured IMF bailout", we've had "rumoured inability of Irish banks to get overnight deposits", now we have "rumoured EU bailout".

Eventually something will be true, but it's hardly worth hopping around like mice on a griddle until then.

cordially,
Scofflaw

tunney · 12-11-2010 01:37PM

Scofflaw wrote: »

I'm afraid that at this point we can expect a new rumour every day - we've had "rumoured IMF bailout", we've had "rumoured inability of Irish banks to get overnight deposits", now we have "rumoured EU bailout".

Eventually something will be true, but it's hardly worth hopping around like mice on a griddle until then.

cordially,
Scofflaw

I heard it was Cowen in the library with the candle stick.

Cosmo K · 12-11-2010 01:40PM

Ireland is in the headlines in Germany, here is an article (in english) in Germany's most influential magazine:

http://www.spiegel.de/international/europe/0,1518,728582,00.html

OMD · 12-11-2010 01:41PM

Scofflaw wrote: »

I'm afraid that at this point we can expect a new rumour every day - we've had "rumoured IMF bailout", we've had "rumoured inability of Irish banks to get overnight deposits", now we have "rumoured EU bailout".

Eventually something will be true, but it's hardly worth hopping around like mice on a griddle until then.

cordially,
Scofflaw

The EU statement seems to be doing the trick though (at least a bit)
10 year bonds now 6.43% (down from 7.15% a half hour ago and 9% yeaterday)

NewDirection · 12-11-2010 01:43PM

OMD wrote: »

The EU statement seems to be doing the trick though (at least a bit)
10 year bonds now 6.43% (down from 7.15% a half hour ago and 9% yeaterday)

Where are you getting these figures from?
Link please

OMD · 12-11-2010 01:44PM

NewDirection wrote: »

Where are you getting these figures from?
Link please

http://www.bloomberg.com/apps/quote?ticker=GIGB10YR:IND

NewDirection · 12-11-2010 01:46PM

OMD wrote: »

http://www.bloomberg.com/apps/quote?ticker=GIGB10YR:IND

Does that not say the bonds are at 8.3% or am I being stupid?

tunney · 12-11-2010 01:46PM

OMD wrote: »

http://www.bloomberg.com/apps/quote?ticker=GIGB10YR:IND

Would help if you read the right number, 8.3%

techdiver · 12-11-2010 01:47PM

OMD wrote: »

http://www.bloomberg.com/apps/quote?ticker=GIGB10YR:IND

The actual figure is 8.326%. You are reading it wrong. The reduction in the rate is 6.406% from it's high.

ei.sdraob · 12-11-2010 01:47PM

NewDirection wrote: »

Does that not say the bonds are at 8.3% or am I being stupid?

yes they were at 9% yesterday

rumour or no rumour it seems to have knocked things down

the question is for how long? before the bears return to savage ireland

danbohan · 12-11-2010 01:47PM

tunney wrote: »

Would help if you read the right number, 8.3%

leave him alone, its one d brians , dr not good with figures

Sticky_Fingers · 12-11-2010 01:48PM

Already mentioned

OMD · 12-11-2010 01:49PM

NewDirection wrote: »

Does that not say the bonds are at 8.3% or am I being stupid?

Sorry. Read figure at top of page

hinault · 12-11-2010 01:49PM

Scofflaw wrote: »

I'm afraid that at this point we can expect a new rumour every day - we've had "rumoured IMF bailout", we've had "rumoured inability of Irish banks to get overnight deposits", now we have "rumoured EU bailout".

Eventually something will be true, but it's hardly worth hopping around like mice on a griddle until then.

cordially,
Scofflaw

best post on this thread.

It is one downside in this age of "instant media" that when "information" is divulged, speculation becomes rife.

mathie · 12-11-2010 01:50PM

OMD wrote: »

The EU statement seems to be doing the trick though (at least a bit)
10 year bonds now 6.43% (down from 7.15% a half hour ago and 9% yeaterday)

……………………………………..________
………………………………,.-‘”……………….“~.,
………………………..,.-”……………………………..“-.,
…………………….,/………………………………………..”:,
…………………,?………………………………………………\,
………………./…………………………………………………..,}
……………../………………………………………………,:`^`..}
……………/……………………………………………,:”………/
…………..?…..__…………………………………..:`………../
…………./__.(…..“~-,_…………………………,:`………./
………../(_….”~,_……..“~,_………………..,:`…….._/
……….{.._$;_……”=,_…….“-,_…….,.-~-,},.~”;/….}
………..((…..*~_…….”=-._……“;,,./`…./”…………../
…,,,___.\`~,……“~.,………………..`…..}…………../
…………(….`=-,,…….`……………………(……;_,,-”
…………/.`~,……`-………………………….\……/\
………….\`~.*-,……………………………….|,./…..\,__
,,_……….}.>-._\……………………………..|…………..`=~-,
…..`=~-,_\_……`\,……………………………\
……………….`=~-,,.\,………………………….\
…………………………..`:,,………………………`\…………..__
……………………………….`=-,……………….,%`>–==“
…………………………………._\……….._,-%…….`\
……………………………..,< `.._|_,-&``................`\

ei.sdraob · 12-11-2010 02:11PM

hinault wrote: »

best post on this thread.

It is one downside in this age of "instant media" that when "information" is divulged, speculation becomes rife.

Thats the world we live in

And since our finances are in such a sorry state (thank you FF :rolleyes:) we are at the mercy of speculators

We either acknowledge and discuss these events or bury our heads in sand.

Scofflaw · 12-11-2010 02:16PM

OMD wrote: »

The EU statement seems to be doing the trick though (at least a bit)
10 year bonds now 6.43% (down from 7.15% a half hour ago and 9% yeaterday)

That's really an amazing indictment of the rational markets view, given that was already the case.

not actually amazed really,
Scofflaw

OMD · 12-11-2010 02:22PM

Scofflaw wrote: »

That's really an amazing indictment of the rational markets view, given that was already the case.

not actually amazed really,
Scofflaw

No sorry. I misquoted the rate. It is down to 8.3%

Liam Byrne · 12-11-2010 02:26PM

Scofflaw wrote: »

That's really an amazing indictment of the rational markets view, given that was already the case.

What's with the "rational" market phrasing ?

digme · 12-11-2010 02:44PM

since when is a herd rational?

Scofflaw · 12-11-2010 02:44PM

Liam Byrne wrote: »

What's with the "rational" market phrasing ?

The result of spending time arguing with people who believe that a change in the markets represents a change in the underlying position of the asset being traded, and that the markets only act on solid information - that is, that the markets are "rational" in the sense that their price signals have a meaning beyond the market because they only act on real information.

cordially,
Scofflaw

r3nu4l · 12-11-2010 02:47PM

donegalfella wrote: »

This post has been deleted.

Do you really think that if the rumours were true that it would be the end of all of those things? I don't, it would merely be a temporary halt to a lot of them and the rest will still go on, they'll just be even more devious and less open about it.

Cronyism will certainly not go and to be honest given the way Ireland has applauded and reelected tax dodgers in the past I can only imagine a lot of the population saying 'Ah sure it's great the way he managed to get one over on Europe, he's the man to lead us out of this'.

No if this were true it would merely apply the brakes a bit. Leopards, spots and all that.

irishh_bob · 12-11-2010 02:50PM

will this have any effect on peoples ability to make withdrawls from banks ???

were thier not strict guidelines enforced regarding this when the IMF engaged with argentina in 2001

kravmaga · 12-11-2010 02:53PM

mathie wrote: »

Cheerio low corporation tax?

Agreed , mentioned on the Pat Kenny radio show this am.

Pat kenny mentioned EU may increase to circa 20%

Then bye bye large US Multinationals.

COYW · 12-11-2010 02:53PM

ei.sdraob wrote: »

Yeh thats why IMF have such a reputation, the people who ****ed up the countries they have to sort out endup blaming them, same will happen here with respect to whoever bails us out.

Not alone will the people who caused the mess point the finger of blame at the IMF, so we all those who are effected by the cuts. I can see large scale strikes and all sort of anti-IMF whinging going on, should they come in to sort this mess out. None of the poor souls who are hit by their cuts will care/understand that they likes of the IMF are brought in the fix the problems. They are not the ones who caused them.

Inquitus · 12-11-2010 02:57PM

kravmaga wrote: »

Agreed , mentioned on the Pat Kenny radio show this am.

Pat kenny mentioned EU may increase to circa 20%

Then bye bye large US Multinationals.

If we raise our Corporation Tax we get rid of one of the very few things we have going for us as a country, I cannot see any circumstances under which we would cave into the EU on this.

We could also theoretically bypass the EU and go direct to the IMF who would have no issues with our Corp Tax rate, obviously this would have grave political consequences with regard to our EU position etc.

jmayo · 12-11-2010 03:07PM

ei.sdraob wrote: »

Can we please stop with the public/private stuff

anyways this gives us a longer rope to hang ourselves with, rounds of champagne and cheese anyone:D

What type of cheese ?

Inquitus wrote: »

If we raise our Corporation Tax we get rid of one of the very few things we have going for us as a country, I cannot see any circumstances under which we would cave into the EU on this.

We could also theoretically bypass the EU and go direct to the IMF who would have no issues with our Corp Tax rate, obviously this would have grave political consequences with regard to our EU position etc.

As Euro member I don't thinbk we can bypass the ECB and go straight to IMF ?

After seeing how during our boom, when they had no other worries, one of our top (as in high paid prominent dept not top as in quality) ministers couldn't be ar**ed making sure the EU had the correct facts so that we didn't have to end an industry, I don't hold out much hope they would realistically save the low Corpo Tax rate.

Permabear · 12-11-2010 03:07PM

This post has been deleted.

Bailout megathread.

Comments