Germany commissioner wants to humiliate Ireland officially!

that guy is a joke what a ridiculous comment to make.

Crazy Horse 6 wrote: »

But we need that wheelbarrow back, you know for any future building boom.

Or for carrying our new punt to the shops.

KeithAFC wrote: »

Burn the EU flag.

Sure put one up with the Tricolour next July for us will ya?

87

saywhatyousee wrote: »

Honest question.... Do you think that if FG or Labour were in power at the time of the bank guarantee or Nama that things would of panned out differently?

Watched Joan Burton talk about this on TV3s Vincent Browne show. She was adamant that Anglo should not be bailed or given the guarantee. She recalled a late night meeting with herself Brian Lenihan and the then FG finance spokesman (?) before the banking guarantees were introduced.

Dionysus wrote: »

This is a turn-up for the books; somebody starts a thread about a German and somebody responds by bringing up Nazism. The originality symbolises why Ireland is a ****-up and why the land of Beethoven, Bach and Benz is bailing us out from myopic rightwing Thatcherite decisions made by europhobic politicians like Charles McCreevy and corrupt cu nts like Ahern, O Donoghue and the rest.

Thatcherite? Really?

4leto wrote: »

Gummy Panda wrote: »

Aren't they a big manufacturing country?

Wouldn't a strong currency destroy them if the eurozone fells apart considering other countries couldn't afford to import from them.

They would at least have more control over their own currency. But yes an impoverished europe is not good for anyone never mind germany.

Take us, if the Punt was reintroduce we would be lucky if it was worth one third of what the euro is.

So imported things like fuel would be 3 times dearer, and our wages would not increase.

Iceland for example when their currency collapsed.

Iceland is doing fine.

Yahew wrote: »

Iceland is doing fine.

Iceland have only 300,000 people a massive fishery resource and a very low energy costs with their thermal energy. But they are still under a very high inflation for imported goods.

But I take your point they are doing very well and will be back in business pretty soon. As a matter of fact I am thinking of giving them some extra tourist bucks in october its meant to be great scenic place and cheap at the moment for obvious reasons.

But knowing my luck Katla will pop while I am there.

Dionysus wrote: »

Fuhrer wrote: »

Heres a proposal.


All the flags of countries that tried to commit genocide should also be flown at half mast.

This is a turn-up for the books; somebody starts a thread about a German and somebody responds by bringing up Nazism. The originality symbolises why Ireland is a ****-up and why the land of Beethoven, Bach and Benz is bailing us out from myopic rightwing Thatcherite decisions made by europhobic politicians like Charles McCreevy and corrupt cu nts like Ahern, O Donoghue and the rest.

It's long past time that Paddy stopped blaming the Germans and took responsibility for the shower of grade A corrupt arseholes who have been elected by Irish people to govern independent Ireland.

I wouldn't fully blame the Germans for running the ECB as is it were their own central bank and keeping interest rates in the periphery negative in real terms. I just blame them for 90% of that.

Nor do I fully blame them for expecting us to bail out their banks by proxy by not burning the bondholders of Anglo for instance. 90% there too.

But they have more to lose than us.

george tobin wrote: »

scary if the euro goes pearshaped...fcukit we will come out the other side and not have to pander to the arrogant french and the talentless humorless fcuwtis in germany....:p

I don't think so and the other side will be a long time away
This poster put it brilliantly in another thread
I am Quoting Fallschirmjager

what will happen is roughly as follows:

we will get a new currency (say puntnua)
this will probably be whats called a fiat currency, aka just paper (what we have today)
the value of the currency is depending on the belief of its value and the belief we can pay (something we dont have which is why the IMF is in town)
punt nua will say its 1:1 value with say the euro or sterling or the dollar
if i remember right, the government will rush to pay off as many debts with punt nua as possible.
the first day our currency will easily loose anywhere from 30 to 70% of value, in other words it will find its real value
the devalued currency will allow us to pay off debts because we can just print it. sounds good but isnt, because no one will loan you anything until the currency stabilises.
the cost of exports get incredibly cheap
the cost of imports gets incredibly expensive, think 10,20 punts for a coffee
companies based in ireland will leave, due to an unstable economy and we will not have free access to EU markets.

then it gets bad....

the fact that most of our debt is external, will mean the government will have to cut public services and i aint talking a pussy billion here or there, i am talking 10 billion here, 10 billion there.
we will have, because the governemnt are dense, a huge tax increase as well
this will drive anyone who can earn a living abroad. we will have hundreds of thousands seeking work abroad per annum. expect things like rubber, oil, gas to sky rocket
if it keeps going and they cant stabilise the currency, look at zimbabwe, thats a possible outcome.
because we dont really have any internal companies for food, clothing, shoes, books etc...everything will get incredibly expensive. so you will be wearing leather patches on your elbows again.
importing energy from england by the interconnector or gas will be dependant on if you can pay. if the currency hits worthless value or instability, they will want to be paid in real things, cows, wheat, anything of real intrinsic value
you will have power cuts, you will have a huge jump in crime

now to your savings

the goverment will peg punt nua to the euro

so say you have 1000 euro savings. on day one the bank will be ordered by the central bank to convert it to 1000 punt nua. if it drops 50% on the international markets, you will still have 1000 puntnua, but its value is actually 500. the printing of money is a scam to take your savings. this is why so much money has been moved abroad in the last 2 years. there is no trust.

expect the government to demand gold (as the US did under FDR). expect them to take gold and silver. they may do this to prop up a currency with real value.

we only have 9 tonnes of gold. not enough to base a currency on something real and valuable. despite what people think, gold is not going up in value, its currencies falling versus something with real value. gold is gold, its primarly about preserving wealth. dont get me wrong you have speculators but most of that price is people betting on currencies failing, so they want to keep their wealth. they are betting if it goes down and 10 years from now a country reforms, gold will still be worth what it is and they can convert, or if it goes all mad max, they can buy food with it. gold has remained incredibly static in real value throughout history. the example normally given is at the time of Christ an ounce of gold would have gotten you a really excellent toga (or whatever the hell they wore), shoes, belt etc. today an ounce of gold will get you a really great suit, tie, shoes, belt etc (i aint talking dunnes finest here). also another example is a roman centurion was paid about an ounce of gold per month. today some one in the US military get around 1700-1800 dollars per month. today gold was around 1900 per oz. so it is incredibly stable.


so in a word, do you trust the irish govt to manage something like this well?, no i dont either

Yahew wrote: »

None of this happened in Iceland. The idea that companies leave as wages collapse is a funny one.

The punt should theoretically appreciate as Ireland is a net exporter. It will, however, probably fall by 30% - 70% is scaremongering. Inflation will increase ( which is just another way of saying the currency will decrease) and the debt burden will decrease.

A net exporter of other foreign companies goods, and they could up sticks and go if the Euro collapses, with the single market and the EU. It really is that scary.

And there still is the debt burden, the banking burden, Nama, and of course our still massive fiscal deficit and the flight of capital which will happen when it looks imminent

I think he is right. We really do not want the Euro to collapse. So please GERMANY stick with us. Germany will suffer if he Euro collapses but it will be no way as devastating to them as it would be to the rest of Europe.

So we really should be grateful to them for sticking with it.