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Irish Banks May Need Life-support As Property Prices Crash

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Well it will be the European Central Bank that has to bail them all out.

Thank God we didnt join the Euro, and thank God we are not going to accept the Lisbon Treat that makes British Taxpayers responsible for paying the European Central Banks debts

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Well it will be the European Central Bank that has to bail them all out.

Thank God we didnt join the Euro, and thank God we are not going to accept the Lisbon Treat that makes British Taxpayers responsible for paying the European Central Banks debts

Yeah and thank god we dont have to pay them billions a year and suffer their stupid laws and wastefullness with a c unt like Mandelson at the helm...............erm hang on a minute?

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One of the biggest lenders is HBOS...are they going to nationalise them?

They did consider it, but the being hit with a Nuclear Warhead from China made them change their mind.

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Guest DissipatedYouthIsValuable
Celtic Tiger needs to go to the vet to be neutered.

I expect they'll blame the English.

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Thank God we didnt join the Euro, and thank God we are not going to accept the Lisbon Treat that makes British Taxpayers responsible for paying the European Central Banks debts

That's a snapshot in time. So we're better off with a falling pound and the 'much loved' New Labour government, led by the popular, charismatic Brown? Or if Cameron comes to power, how long will his honeymoon last?

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Surprise, surprise. All the Irish "experts" said much the same as they did here - lack of supply, good investment, etc. Once again, they're exposed as liars.

Guess who's turn it will be next?

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I said it many months ago and will say it again: the banking system is insolvent. There is more debt than there are funds to cover it. The size of the global housing bubble is huge. The "values" are all opinion but the debt that created it remains real (Merv said as much). Probably around 10 Trillion $ worldwide will need to be written down or otherwise made to go away.

Gordon is one of the ringleaders who said they would not allow the house markets to get out of control. They got out of control. Seriously out of control. Gordon should resign in disgrace for fostering and facilitating the biggest housing bubble in our history. He has put the nation at risk and enslaved a generation with debt.

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I said it many months ago and will say it again: the banking system is insolvent. There is more debt than there are funds to cover it.

I agree, but you're saying it as if it is an interesting anomaly of the present situation.

The fact is that in our monetary system there is ALWAYS more debt than there are funds to cover it. That is why any failure of new money creation (IE reduction in borrowing) causes bankruptcies elsewhere in the system.

Edited by Selling up

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Guest vicmac64
I said it many months ago and will say it again: the banking system is insolvent. There is more debt than there are funds to cover it. The size of the global housing bubble is huge. The "values" are all opinion but the debt that created it remains real (Merv said as much). Probably around 10 Trillion $ worldwide will need to be written down or otherwise made to go away.

Gordon is one of the ringleaders who said they would not allow the house markets to get out of control. They got out of control. Seriously out of control. Gordon should resign in disgrace for fostering and facilitating the biggest housing bubble in our history. He has put the nation at risk and enslaved a generation with debt.

I agree - back then the rest were laughing at us - some still do...

Its no consolation and won't be until the reckless and careless and in some cases corrupt politicians and bankers do real time and lose their ill gotten personal gains - that has to be the next goal for a truly free and democratic society.

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Morgan Kelly, of University College Dublin, said the government is almost powerless to stop the downturn becoming a severe slump. "We're in a classic post-bubble recession, yet we can't do anything that a country would normally do in this situation because we're inside the eurozone," Prof Kelly said. "We can't cut interest rates, we can't devalue, and there is a lot less room for fiscal stimulus than people think. We're stuck.

"We have a domestic recession now colliding with a global recession. It is the state of the banking system that will determine how terrible this will be, and frankly that is looking very shaky."

Ha, bloody ha! That's what you get for giving away your sovereignty by adopting the euro. Will the entire Euroland economic policy now be skewed to suit the Irish? Hmm, well, will it? Of course not! They're f*cked and they seem to know it. :lol:

If I don't seem very sympathetic it's because you'd have to be moronic to give up a perfectly servicable currency and throw in your lot with a bunch of hyper-inflationists. Reichmark, Old frank, Lira or Peseta, anyone?

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Guest vicmac64
Ha, bloody ha! That's what you get for giving away your sovereignty by adopting the euro. Will the entire Euroland economic policy now be skewed to suit the Irish? Hmm, well, will it? Of course not! They're f*cked and they seem to know it. :lol:

If I don't seem very sympathetic it's because you'd have to be moronic to give up a perfectly servicable currency and throw in your lot with a bunch of hyper-inflationists. Reichmark, Old frank, Lira or Peseta, anyone?

Add to that sterling and the dollar......

They are all puppets on a string

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Add to that sterling and the dollar......

They are all puppets on a string

We control our own interest rates. We could devalue if we had to. They don't and can't.

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Guest vicmac64
We control our own interest rates. We could devalue if we had to. They don't and can't.

We control nothing - Gordon does what he is told to do. aka Lisbon Treaty......

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We control our own interest rates. We could devalue if we had to. They don't and can't.

devaluation isn't some magical elixir that is good for you.

unless you are really into 1.50 petrol and soaring food prices etc.

the Irish are having trouble for the exact same reasons that Britain is, uncontrolled HPI.

this fetish people have with the Euro somehow being involved is creepy.

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  • 293 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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