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Infrastructure and the IMF/EU

  • 18-11-2010 8:31pm
    #1
    greyed
    Registered Users Posts: 324 ✭✭


    So considering the almost certainty of a bailout package... if it covers the public finances, what kind of policy does the IMF or the commision have on infrastructure and capital spending? Do they pursue a stimulus policy or cut to the bone in all respects?

    Basically what im asking (as these projects concern me as a dubliner) will MN and Interconnector survive the next few months? What about the childrens hospital? Opinions?
    Tagged:


Comments

  • #2
    Chris_5339762
    Registered Users, Registered Users 2 Posts: 5,963 ✭✭✭Chris_5339762


    I just hope Newlands gets done, its cost/benefit ratio must be enormous :(


  • #3
    mgmt
    Closed Accounts Posts: 1,361 ✭✭✭mgmt


    Did a quick google search:
    Likely EU/IMF stance: Any external assistance would likely come with a demand for even deeper cuts with expensive projects such as the 'Metro North' -- a railway linking the north and center of Dublin -- almost certain to be shelved.

    http://www.cnbc.com/id/40213203


  • #4
    DWCommuter
    Closed Accounts Posts: 3,032 ✭✭✭DWCommuter


    Just from my own intellectual experience of the IMF, if they do become involved in funding the country, then we can kiss our asses goodbye to MN and DU regardless of the PPP nature. At the end of the day, a country that needs to borrow to fund its banks and day to day operations cannot countenance further expenditure on PPP repayments in the short to medium term. Absolutely everything has to be cut to the bone.

    The aspirations of those who think we should do it now during recession when prices are apparently cheaper do not consider the dire financial state of the country. Its very bad. Please do not forget that when your Government tell you that they cannot afford these pieces of infrastructure, its really because they bull****ted you for over 10 years and paid lip service to public transport via CIE dream projects and RPA lead developer buddy schemes and paid no attention to overall requirements contained in an actual plan.


  • #5
    Sponge Bob
    Banned (with Prison Access) Posts: 25,234 ✭✭✭✭Sponge Bob


    May as well start a pothole reporting thread for every county in Ireland and lock the rest up for the next 5 years. Sticky the (26-30 odd) pothole threads to make the place look busy.


  • #6
    greyed
    Registered Users Posts: 324 ✭✭greyed


    mgmt wrote: »
    Likely EU/IMF stance: Any external assistance would likely come with a demand for even deeper cuts with expensive projects such as the 'Metro North' -- a railway linking the north and center of Dublin -- almost certain to be shelved.

    So depressing, was hoping for this project to maintain a sense of life and progress in the city in bleak times :(


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  • #7
    dowlingm
    Registered Users, Registered Users 2 Posts: 5,337 ✭✭✭dowlingm


    Cancelling the projects will cost money too. The question is how many contracts have been signed. For example, City of Ottawa had to pay Siemens $36.7m in go-away money even though not a rail had been laid on the cancelled LRT project nor a vehicle put into production.


  • #8
    D'Peoples Voice
    Registered Users, Registered Users 2 Posts: 1,698 ✭✭✭D'Peoples Voice


    DWCommuter wrote: »
    At the end of the day, a country that needs to borrow to fund its banks and day to day operations cannot countenance further expenditure on PPP repayments in the short to medium term. Absolutely everything has to be cut to the bone.
    with the exception of the train to Navan I assume, Dempsey promised that by 2015!


  • #9
    Sponge Bob
    Banned (with Prison Access) Posts: 25,234 ✭✭✭✭Sponge Bob


    D'Peoples Voice wrote: »
    with the exception of the train to Navan I assume, Dempsey promised that by 2015!

    By early 2004 you mean , he originally told the Meath Chronicle in March 1999 that the railway to Navan would be built within 5 years.


  • #10
    strassenwo!f
    Registered Users Posts: 1,512 ✭✭✭strassenwo!f


    The IMF's arrival in town might have some affect on newer infrastructure plans.

    But, as I recall from the launch of T21, Martin Cullen and his colleagues at the high table assured us that the money for the projects therein was ring-fenced.

    So, while there may be problems finding funding for newer infrastructure plans, I think we can all feel safe that projects like the metro, interconnector, atlantic corridor, etc, will proceed as planned.

    Why would they not?

    Of course they will.

    'Cos the money for these projects was ring-fenced.


    :(:(


  • #11
    DWCommuter
    Closed Accounts Posts: 3,032 ✭✭✭DWCommuter


    strassenwo!f wrote: »
    The IMF's arrival in town might have some affect on newer infrastructure plans.

    But, as I recall from the launch of T21, Martin Cullen and his colleagues at the high table assured us that the money for the projects therein was ring-fenced.

    So, while there may be problems finding funding for newer infrastructure plans, I think we can all feel safe that projects like the metro, interconnector, atlantic corridor, etc, will proceed as planned.

    Why would they not?

    Of course they will.

    'Cos the money for these projects was ring-fenced.


    :(:(

    The day I sat in Dublin Castle at the T21 launch is a day that will always remind me of Pinnochio.


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