Ireland needs to vote No on May 31st

fries · 18-05-2012 11:20PM #1

We need to vote No on May 31st.... The Banks already bribed the politicians enough, it seems, to force the Irish to pay them back. And hopefully, the Banks and Bondholders will learn what it means. No one forced anyone to loan Anglo Irish Bank money. The Irish people should not have to pay their debts without concessions.

... unfortunately, thanks to the Moles of the Banks, and Brian Lenihan or his successor Noonan, Banks and bond-holders have gotten used to Marxism, -these moles tax citizens with inflation and thus force them to pay for their losses. Fine Gael have successfully taxed citizens inflation, and gotten away with it. In the case of Ireland, the European Banks are having no trouble pulling off a 'Bernanke'

Europeans are not as naive as Irish people are, it seems. Good for European citizens, bad for the Irish people.

If Greece exits the Eurozone, Ireland’s rescued banks may need €4bn more to cover losses on loans than was assumed in stress tests last year, said analysts at Deutsche Bank today. This treaty will make it more difficult to repudiate the existing bank debt than anticipated.

The other question is corporation tax: this treaty is the beginning of the harmonization process. The first step has started, be under no illusion of Europe's intentions.

The question regularly arises about where Ireland will get the money from:

1. The IMF (supports burning the bank debt)
2. Bilateral loans from UK, Sweden, US, Canada, Australia, etc.
3. Defaulting on the existing bank debt
4. The EFSF (still effective until 2013)

Letting one or two Banks fail like in Iceland would only have short-term consequences like a 10% increase in unemployment. While, in retrospect, Anglo Irish Bank (a slush fund for developers turned zombie bank) can still be let go instead of private debt being made into sovereign debt, there is still time to ring fence the promissory note by refusing to use the ECB money thus returning it to the ECB. The Banks are already gone from throwing money at anyone with a pulse to withdrawing necessary ongoing bank facilities from many businesses... from one extreme to another really. So it cannot fall much further. Now is the time...

carrolls · 18-05-2012 11:52PM

fries wrote: »

Letting one or two Banks fail like in Iceland would only have short-term consequences like a 10% increase in unemployment. ...

:rolleyes:

Godge · 18-05-2012 11:58PM

fries wrote: »

We need to vote No on May 31st.... The Banks already bribed the politicians enough, it seems, to force the Irish to pay them back. And hopefully, the Banks and Bondholders will learn what it means. No one forced anyone to loan Anglo Irish Bank money. The Irish people should not have to pay their debts without concessions.

... unfortunately, thanks to the Moles of the Banks, and Brian Lenihan or his successor Noonan, Banks and bond-holders have gotten used to Marxism, -these moles tax citizens with inflation and thus force them to pay for their losses. Fine Gael have successfully taxed citizens inflation, and gotten away with it. In the case of Ireland, the European Banks are having no trouble pulling off a 'Bernanke' Europeans are not as naive as Irish people are, it seems. Good for European citizens, bad for the Irish people.

If Greece exits the Eurozone, Ireland’s rescued banks may need €4bn more to cover losses on loans than was assumed in stress tests last year, said analysts at Deutsche Bank today. This treaty will make it more difficult to repudiate the existing bank debt than anticipated.

The other question is corporation tax: this treaty is the beginning of the harmonization process. The first step has started, be under no illusion of Europe's intentions.

The question regularly arises about where Ireland will get the money from:

1. The IMF (supports burning the bank debt)
2. Bilateral loans from UK, Sweden, US, Canada, Australia, etc.
3. Defaulting on the existing bank debt
4. The EFSF (still effective until 2013)

Letting one or two Banks fail like in Iceland would only have short-term consequences like a 10% increase in unemployment. While, in retrospect, Anglo Irish Bank (a slush fund for developers turned zombie bank) can still be let go instead of private debt being made into sovereign debt, there is still time to ring fence the promissory note by refusing to use the ECB money thus returning it to the ECB. The Banks are already gone from throwing money at anyone with a pulse to withdrawing necessary ongoing bank facilities from many businesses... from one extreme to another really. So it cannot fall much further. Now is the time...

Have you read Alice in Wonderland?

meglome · 19-05-2012 12:02AM

fries wrote: »

Letting one or two Banks fail like in Iceland would only have short-term consequences like a 10% increase in unemployment. While, in retrospect, Anglo Irish Bank (a slush fund for developers turned zombie bank) can still be let go instead of private debt being made into sovereign debt, there is still time to ring fence the promissory note by refusing to use the ECB money thus returning it to the ECB. The Banks are already gone from throwing money at anyone with a pulse to withdrawing necessary ongoing bank facilities from many businesses... from one extreme to another really. So it cannot fall much further. Now is the time...

I'm not sure I'm amused or frightened by your little fantasy. The last government made the bank debt sovereign debt. We have paid off most of the original bondholders so who do yo think we'd stuffing if we let them go? (It's us if you didn't know)

NoAnimalID · 19-05-2012 12:04AM

fries wrote: »

We need to vote No on May 31st.... The Banks already bribed the politicians enough, it seems, to force the Irish to pay them back. And hopefully, the Banks and Bondholders will learn what it means. No one forced anyone to loan Anglo Irish Bank money. The Irish people should not have to pay their debts without concessions.

... unfortunately, thanks to the Moles of the Banks, and Brian Lenihan or his successor Noonan, Banks and bond-holders have gotten used to Marxism, -these moles tax citizens with inflation and thus force them to pay for their losses. Fine Gael have successfully taxed citizens inflation, and gotten away with it. In the case of Ireland, the European Banks are having no trouble pulling off a 'Bernanke' Europeans are not as naive as Irish people are, it seems. Good for European citizens, bad for the Irish people.

If Greece exits the Eurozone, Ireland’s rescued banks may need €4bn more to cover losses on loans than was assumed in stress tests last year, said analysts at Deutsche Bank today. This treaty will make it more difficult to repudiate the existing bank debt than anticipated.

The other question is corporation tax: this treaty is the beginning of the harmonization process. The first step has started, be under no illusion of Europe's intentions.

The question regularly arises about where Ireland will get the money from:

1. The IMF (supports burning the bank debt)
2. Bilateral loans from UK, Sweden, US, Canada, Australia, etc.
3. Defaulting on the existing bank debt
4. The EFSF (still effective until 2013)

Letting one or two Banks fail like in Iceland would only have short-term consequences like a 10% increase in unemployment. While, in retrospect, Anglo Irish Bank (a slush fund for developers turned zombie bank) can still be let go instead of private debt being made into sovereign debt, there is still time to ring fence the promissory note by refusing to use the ECB money thus returning it to the ECB. The Banks are already gone from throwing money at anyone with a pulse to withdrawing necessary ongoing bank facilities from many businesses... from one extreme to another really. So it cannot fall much further. Now is the time...

Excellent insight, I agree that the Bank debt needs to written off.

The first three replies did not put forward any valid argument in favor/against.

The Gutless FG / LAB coalition will no doubt

Common policy amongst the G8-Countries is never to yield to blackmail, whatever it takes. It is for this reason that terrorists are never paid ransom money and if they are paid they may as well never get to spend their loot. The Irish Gov't will sink in their own popularity demise.

The likes of Kenny, Noonan, Creighton and Gilmore in rhetoric from Mrs Burton, they sure stumble in their graves.

For Richard Bruton, ignorance is blyss....The only idiot in this instance is one who thinks he can bring the whole world to its knees and get his way...

The bank debt could literally be torn-up but the politicians don't want that. I can't understand why people are willing to continue to pay the debts of Frankfurt on May 31st...

K-9 · 19-05-2012 12:09AM

Rereg posters on this thread, topic closed.

19-05-2012 12:23AM

carrolls wrote: »

:rolleyes:

Godge wrote: »

Have you read Alice in Wonderland?

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Ireland needs to vote No on May 31st

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