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Irish Govt Falls Apart

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The Greens have left the Irish Govt Coalition throwing the March 11th election into doubt... as it might need to be sooner... if possible...

But methinks they are all trying to look as if "Bankrupt Eire? Nothing to do with us mate!" at the polling booths.

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Does the election really matter any more? Since the bail out was agreed Ireland is just the banks' bitch, regardless of who is "in power" politically.

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Does the election really matter any more? Since the bail out was agreed Ireland is just the banks' bitch, regardless of who is "in power" politically.

Each election needs to be taken seriously or extremists will take their opportunity. :rolleyes:

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Does the election really matter any more? Since the bail out was agreed Ireland is just the banks' bitch, regardless of who is "in power" politically.

It's not a totally done deal yet is it?

IMF approves Ireland loan; open to re-negotiation

IMF Director Dominique Strauss-Kahn, interviewed in Washington at a Thomson Reuters Newsmaker event, played down chances of substantial changes in the loan agreement even if the current opposition party gains power next year.

"If they win the election, they'll come back arguing that this thing, which was proposed by the former government, should be done differently," Strauss-Kahn said. "But I'm confident they won't question in any way the global framework of this agreement."

Chopra, who negotiated the bailout with officials from the European Union, the European Central Bank and the Irish government in Dublin last month, sidestepped a question about whether senior bondholders in Irish banks should shoulder losses.

Ireland was forced to go to the IMF and the EU to deal with a crisis in its banking sector which brought the former "Celtic Tiger" economy to its knees and rattled the wider euro zone.

Under the terms of the EU/IMF deal, Irish people face years of cutbacks and tax increases in return for fresh capital to shore up the banks, preserving full payment of their senior bonds -- those first in line to be repaid in the event of default.

The country's parliament passed legislation on Wednesday giving the government the power to impose losses on holders of subordinated debt, a riskier class of asset. But the European Union fears imposing losses on senior bondholders, who rank on a par with depositors, could destabilize other banks in Europe and compound the region's debt crisis.

http://www.reuters.com/article/idUSTRE6BF4QO20101216

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If the vote of no confidence is passed on Tuesday there will be a snap election instead of an election on March 11th. Who knows which way it will go.

When Strauss-Kahn said. "But I'm confident they won't question in any way the global framework of this agreement.". It implies to me that they could if they wanted. He must think they won't dare try too much because they are up a brown waterway without means of propulsion and must have the IMF in. The IMF won't want any talk of haircuts for the ripple effect but wouldn't that reduce their debt?

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Its a shame they don't default and tell the banking cartels to go stuff themselves. Would be a very good european test bed for default as Iceland isn't really big enough to be representative.

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They (and we) can vote for whatever colour they like.

They'll still get banksters.

That's the law.

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Each election needs to be taken seriously or extremists will take their opportunity. :rolleyes:

In this case the extremists will take their chance , look out when Sinn Fein get into a new coalition they make Alan Johnston look like an economics professor :ph34r:

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Each election needs to be taken seriously or extremists will take their opportunity.

Good point- can't let those extremists in- they might bring the country to ruin. :lol: They need government that will keep the people on their knees sucking off the banksters. How else all those foreign banks going to get paid off.

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Does the election really matter any more? Since the bail out was agreed Ireland is just the banks' bitch, regardless of who is "in power" politically.

If the Government falls on Tuesday, the Finance Bill (including December's budget, & the legislation required for the bail out) doesn't get passed.

The new government start with a blankish slate. Depends on which shower of nutters gets elected. :huh:

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They (and we) can vote for whatever colour they like.

They'll still get banksters.

That's the law.

Too true RK. Any election is now a non event.

Edited by Sir John Steed

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If the Government falls on Tuesday, the Finance Bill (including December's budget, & the legislation required for the bail out) doesn't get passed.

The new government start with a blankish slate. Depends on which shower of nutters gets elected. :huh:

The Greens have said they will still support the Finance Bill.

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The Greens have said they will still support the Finance Bill.

They have to survive the confidence votes on Tuesday & Wednesday.

The Greens can hardly support a government that they have withdrawn from. :blink:

The lose the confidence vote Biffo goes to the Aras to dissolve the Dail.

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A week is a long time in politics and any sort of policy could come out into the open (and be available to be reneged on as well). Having said that it's not looking very likely that any party will stand on a policy of default but who knows stranger things have happened. The future looks very grim for the Irish with current policies.

Perhaps FF might take it on. After all as things stand they're going to be wiped out and the others seem to be unduly hasty to get everything passed with a quick election possibly so that a default party hasn't enough time to gain momentum.

Edited by billybong

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They have to survive the confidence votes on Tuesday & Wednesday.

The Greens can hardly support a government that they have withdrawn from. :blink:

The lose the confidence vote Biffo goes to the Aras to dissolve the Dail.

Yehudi Lenihan is trying to meet with the opposition parties to get the finance bill passed.

Opposition want it passed by the end of the week, FF are saying they'll need longer.

(All above according to Newstalk news bulletin)

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  • 312 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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