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Irish Lenders Besiege Central Bank For Emergency Loans

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This is a horror story: it shows the cataclysmic condition of the Irish banking system, said Tim Congdon from International Monetary Research. "The banks have borrowed €183bn in total, or 110pc of Irish GDP. They have burned through all their capital and a lot of their deposits as well. This is going to end up on the national debt".

Ambrose Evans-Pritchard link

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The IMF's flexible credits are designed to "encourage countries to ask for assistance before they face a full blown crisis". They are not the same as bail-out, and are only avaible to "very strong perfomers" facing "tough times" because of temporary funding pressures. They entail no stigma, and do not come with strings attached.

:lol::lol:

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Yes, he called it himself.

Looks like the Irish government has collapsed - the Irish Foreign Minister has offered his resignation to BIFFO (Brian Cowen) and has said he will vote against his own party in the vote of confidence on Tuesday. As the government only has a majority of two they are almost certain to lose the vote.

So by Wednesday Ireland may be without a functioning government and a PM who will be forced to quit as he has lost his party and the Dail's confidence.

Not good timing at all - but Fianna Fail have to go. Shame the only alternative is Fine Gael and Labour - at least Sinn Fein would be fun (quitting the EU and stopping the bailout).

Edited by MRMX9

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The IMF's flexible credits are designed to "encourage countries to ask for assistance before they face a full blown crisis". They are not the same as bail-out, and are only avaible to "very strong perfomers" facing "tough times" because of temporary funding pressures. They entail no stigma, and do not come with strings attached.

So it's a bailout for "strong performers", so a full scale bailout for Spain this year then?

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Yup caught on the golf course with Allied Irish directors. Not looking good.

Now watch this drive Bitch!

Do you know what score he had i think anything under 80 with the current pressures hes under would be admirable

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Bankruptcy sounds imminent.

Has there been a bit of a bank run?

Wouldn't be very dramatic..

1st customer in line: Please can I have my 1000 euro savings out.

Cashier: fine (hands over bag of 1 and 2 euro coins)

2nd customer in line: Please can I have my 1000 euro savings out.

Cashier: Sorry, computer says we are bankrupt. (closes window, switches off lights and cashpoint)

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It may say spa above the door but it's really a hairdressers.

Or a Chapel of Rest....after the hairdressers of course.

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Looks like the Irish government has collapsed - the Irish Foreign Minister has offered his resignation to BIFFO (Brian Cowen) and has said he will vote against his own party in the vote of confidence on Tuesday. As the government only has a majority of two they are almost certain to lose the vote.

So by Wednesday Ireland may be without a functioning government and a PM who will be forced to quit as he has lost his party and the Dail's confidence.

Not good timing at all - but Fianna Fail have to go. Shame the only alternative is Fine Gael and Labour - at least Sinn Fein would be fun (quitting the EU and stopping the bailout).

It's a vote of confidence in the parliamentary party, not parliament, so the majority isn't significant. Still, Biffo may still be pushed out. B)

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  • 311 Brexit, House prices and Summer 2020

    1. 1. Including the effects Brexit, where do you think average UK house prices will be relative to now in June 2020?


      • down 5% +
      • down 2.5%
      • Even
      • up 2.5%
      • up 5%



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