goldbug9999 Posted November 22, 2010 Share Posted November 22, 2010 Gruffydd, my comment wasn't aimed at you but at the person I quoted. I know what the feeling is like from a few phone calls to mates over the weekend. I know I'm biased as wearing my economist hat I would favour a default but everyone I spoke to seems to think 1) the politicians have been forced into this. 2) they are idiots for doing so. Sorry by the Irish general public did this to themselves. They borrowed recklessly to bid up house prices and MEW, its their own stupid fault, just like it will be ours when we (eventually) go bankrupt ourselves. I am VERY f*cked *off that we are bailing them out, especially since were having to borrow to do, its just complete madness. Quote Link to comment Share on other sites More sharing options...
eek Posted November 22, 2010 Share Posted November 22, 2010 ...don't know about the English financiars ...it would appear the RBofS and BofS had the main exposures....is that right...?.... Do you have to ask? Quote Link to comment Share on other sites More sharing options...
leicestersq Posted November 22, 2010 Share Posted November 22, 2010 http://blogs.telegraph.co.uk/news/iainmartin/9382147/Britain_heading_for_the_IMF__official/ which of the New Labour tossers said that? All of them. Quote Link to comment Share on other sites More sharing options...
South Lorne Posted November 22, 2010 Share Posted November 22, 2010 (edited) I saw a brilliant business last time I was in Northern Ireland. In a temporary building someone had set up shop allowing you to make your own bead jewellery. It worked because costs had been kept to a minimum so the only requirement was to cover the wages of the people who helped you out (although in my case I sat on my laptop and let my family go made). Looking at doing it locally I'm stuck with the issue of how on earth do you cover the £50,000 in rent and business rates while still keeping prices low. you are renting the wrong place ....you need something that is virtually rent free for a startup..... Edited November 22, 2010 by South Lorne Quote Link to comment Share on other sites More sharing options...
indirectapproach Posted November 22, 2010 Share Posted November 22, 2010 "which of the New Labour tossers said that?" Wasn't it Mandy? Quote Link to comment Share on other sites More sharing options...
IP Newcomer Posted November 22, 2010 Share Posted November 22, 2010 http://blogs.telegraph.co.uk/news/iainmartin/9382147/Britain_heading_for_the_IMF__official/ which of the New Labour tossers said that? It was a cabinet minister, but he kept anonymous. For some reason I thought it was Mandleson at the time, but I may have simply been making an assumption rather than having read that from somewhere. Quote Link to comment Share on other sites More sharing options...
eek Posted November 22, 2010 Share Posted November 22, 2010 you are renting the wrong place ....you need something that is virtually rent free for a startup..... No I need something that is cheap long term with parking. The idea that you have to pay £50,000 for a suitable location in the South East is insane. Quote Link to comment Share on other sites More sharing options...
AvidFan Posted November 22, 2010 Share Posted November 22, 2010 (edited) Merged, broken up, scaled down. The usual story: http://www.msnbc.msn.com/id/40315568/ns/business-world_business/ Shares in Irish Life & Permanent fell 28 percent to €0.83, Bank of Ireland 22 percent to €0.37. Allied Irish — which has already dumped its two prized foreign assets, stakes in Poland's Bank Zachodni and New York's M&T Bank — fell 10 percent to €0.39.Alan Dukes, chairman of Anglo Irish Bank, said he expected most, if not all, of Ireland's six banks to end up in state hands. Unions have warned of probable mass job cuts — the unemployment rate of 13.6 percent is already the second-highest rate in the eurozone behind Spain. Edited November 22, 2010 by AvidFan Quote Link to comment Share on other sites More sharing options...
Vivaldo Posted November 22, 2010 Share Posted November 22, 2010 I like some of the comments underneath... Quote Link to comment Share on other sites More sharing options...
AvidFan Posted November 22, 2010 Share Posted November 22, 2010 (edited) There's some upside though: http://www.businessworld.ie/livenews.htm?a=2679516 Although I doubt this cull will include senior bankers - just those that need the money and work in customer service or on counter service I suppose Edited November 22, 2010 by AvidFan Quote Link to comment Share on other sites More sharing options...
Seydel Posted November 22, 2010 Share Posted November 22, 2010 "The one aim of these financiers is world control by the creation of inextinguishable debt.” Henry Ford. An alternative view is that stupid decisions upon stupid decisions for years and years were all unfortunate coincidences. It will be QE to infinity as we all end up where the Greeks and Irish are headed first. The gutter. Quote Link to comment Share on other sites More sharing options...
R K Posted November 22, 2010 Share Posted November 22, 2010 It was a cabinet minister, but he kept anonymous. For some reason I thought it was Mandleson at the time, but I may have simply been making an assumption rather than having read that from somewhere. It was indeed Baron Mandelschild. Lord Protector of Wealth. Quote Link to comment Share on other sites More sharing options...
yellerkat Posted November 22, 2010 Share Posted November 22, 2010 (edited) There was an Irish journalist on the radio - Fivelive I think - a few hours ago pointing out that, in her opinion, the Irish equivalent of the Taffia have creamed off vast sums of money. That would be the Murphia. Oh, and from FT Alphaville yet again: Irish bailout *fail* RTRS-IRISH FIVE-YEAR CREDIT DEFAULT SWAPS AT 530 BPS, 25 BPS WIDER ON DAY ED: Formatting Edited November 22, 2010 by yellerkat Quote Link to comment Share on other sites More sharing options...
eric pebble Posted November 22, 2010 Share Posted November 22, 2010 (edited) Sorry by the Irish general public did this to themselves. They borrowed recklessly to bid up house prices and MEW, its their own stupid fault, just like it will be ours when we (eventually) go bankrupt ourselves. I am VERY f*cked *off that we are bailing them out, especially since were having to borrow to do, its just complete madness. Agree with you up to about halfway..... But - once people were using LIAR LOANS to buy property -- the ONLY way ANYONE could subsequently "afford" to buy a roof over their head was to ALSO take out some form of a LIAR LOAN. The banksters/Moneylenders got the whole system up and running -- they URGED PEOPLE to take out LIAR LOANS --- and SO THIS BECAME THE NORM ---- it all ended up being EXACTLY like a CLASSIC Ponzi/Pyramid Scam - and the "money" or FUEL - was these PREDATORY LIAR LOANS. YOU COULDN'T "BUY" PROPERTY ANY OTHER WAY!! SO EVERYONE DID. SEE ALL DETAILS BELOW -- AND TYPE LIAR LOANS/PREDATORY LIAR LOANS --- into a search engine and get reading........ Edited November 22, 2010 by eric pebble Quote Link to comment Share on other sites More sharing options...
DTMark Posted November 22, 2010 Share Posted November 22, 2010 Is there any mileage in the theory that the reason the UK was quick to lend a helping hand because of the rise of Nationalism and Sinn Feinn in all this? Quote Link to comment Share on other sites More sharing options...
The Masked Tulip Posted November 22, 2010 Share Posted November 22, 2010 Is there any mileage in the theory that the reason the UK was quick to lend a helping hand because of the rise of Nationalism and Sinn Feinn in all this? No. Quote Link to comment Share on other sites More sharing options...
madpenguin Posted November 22, 2010 Share Posted November 22, 2010 "The one aim of these financiers is world control by the creation of inextinguishable debt.” Henry Ford. An alternative view is that stupid decisions upon stupid decisions for years and years were all unfortunate coincidences. It will be QE to infinity as we all end up where the Greeks and Irish are headed first. The gutter. Or the population at large get totally fed up with the austerity being forced on them, and organize some kind of retribution, as in revolutionary France :angry: Quote Link to comment Share on other sites More sharing options...
Zzzzzzzzzzzzzzzzzzzzzzzzzz Posted November 22, 2010 Author Share Posted November 22, 2010 two independent members of parliament on whom Prime Minister Brian Cowen's government relies for support said they may withhold support from the 2011 budget due to be unveiled on Dec. 7, effectively depriving the government of a working majority. [Jackie Healy-Rae and Michael Lowry] SHTF! Quote Link to comment Share on other sites More sharing options...
DTMark Posted November 22, 2010 Share Posted November 22, 2010 two independent members of parliament on whom Prime Minister Brian Cowen's government relies for support said they may withhold support from the 2011 budget due to be unveiled on Dec. 7, effectively depriving the government of a working majority. [Jackie Healy-Rae and Michael Lowry] SHTF! I don't think our coalition will last to the end of the current Parliament. Quote Link to comment Share on other sites More sharing options...
Toto deVeer Posted November 22, 2010 Share Posted November 22, 2010 "The one aim of these financiers is world control by the creation of inextinguishable debt.” Henry Ford. Really interesting quote. Thanks. He was correct about the banks and their skulduggery. Didn't seem to like them much. Quote Link to comment Share on other sites More sharing options...
Stay Beautiful Posted November 22, 2010 Share Posted November 22, 2010 Dont watch if easily offended. Quote Link to comment Share on other sites More sharing options...
needsleep Posted November 22, 2010 Share Posted November 22, 2010 Father Dougal: I know! Well lure them into a giant bingo game! Father Ted: And how are we going to do that? Father Dougal: We'll print up some bingo cards on our printing press and... oh. Father Ted: Yes, it's the lack of a printing press that lets us down there. Or bingo balls. Or a PA system. Or in fact, any bingo paraphernalia at all. Father Dougal: Damn. So near, yet so far. Quote Link to comment Share on other sites More sharing options...
geezer466 Posted November 22, 2010 Share Posted November 22, 2010 So in essence.. Government needs to introduce an austerity budget that will make the Irish peoples balls squeak in return for the IMF loans. Government needs to get that budget through it's parliamentary process. Junior coalition partners are already making noises about withholding support to allow the budget to pass. Noises being made about a General Election. IMF bailout is conditional on the budget being passed. Seems to me the power is now in the hands of the Irish people. If they take to the streets in huge numbers taking an anti Euro position then there may be no appetite across the Government to pass the budget. This story is not over, not by a long chalk. Quote Link to comment Share on other sites More sharing options...
cybernoid Posted November 22, 2010 Share Posted November 22, 2010 Thoise loitle green fellows over dere, dey take demselves far too seriously, so they do. Diddly diddly Quote Link to comment Share on other sites More sharing options...
South Lorne Posted November 22, 2010 Share Posted November 22, 2010 It was indeed Baron Mandelschild. Lord Protector of Wealth. ...his own wealth..... Quote Link to comment Share on other sites More sharing options...
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