Ireland on the brink (?)

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'Zimbabwe is not Ireland' - President Robert Mugabe

President for Life of Zimbabwe Dr Robert Mugabe has angrily rejected suggestions that the economic problems facing Zimbabwe are on a par with those of Ireland.

"The five year national plan will reinvigorate our society and country. Zimbabwe is a thriving modern economy and far from being bankrupt looks forward to the future with confidence and vigour. We are not at all like Ireland, which is a failed political entity whose economy has been driven into the ground by a corrupt ruling class. I repeat - we are Zimbabwe, not Ireland."

Meanwhile, Irish bond yields hit new records on the markets today amid fears that the country will not be able to re-finance its debt, and General McGuinness, who seized power in a coup just five months ago, promising to lead the country out of its five year long economic depression and bring corrupt politicians and bankers to justice, is believed to be lying low at an undisclosed location after angry, ravenous mobs, descended on his Clarence City bunker.
 
Much of the so-called 'government' debt of Ireland relates to private sector debts incurred by privately owned banks and property developers which are in turn owed to other privately owned banks, which have been foisted on the Irish taxpayer by its corrupt and/or compliant, supine, servile, cowardly and downright traitorous government.

As Alan Waters said, you can't buck the market.
 
Thanks Financeguy for the added info. If you don't mind me asking. What is the unemployment rate in Ireland? Is it higher than the U.S?
 
Ireland RIP (1921-2010)

Rumour has it that certain European investors are no longer willing to provide Irish banks with overnight funding. If true, this could trigger the much-discussed bail-out (for it’s unlikely to end in default). A bail-out might still impose losses on bondholders, though, after recent discussions at the EU.

Until now, Ireland didn’t need any extra funding till mid-2011. Shenanigans in the secondary (resale) bond market were troubling, then, but did not need to affect the country’s cost of debt. Just as long as debt auctions took place once things had calmed down.

That reasoning assumed, however, that the Irish state would not need more cash than it had planned. Overnight funding itself might not be the problem - it is only overnight, after all - but it could trigger a liquidity crunch that sees banks come cap in hand to the government. And the government, at the moment, can ill afford to help them.

Is this the Irish trigger? | Money Supply blog on central banks | FT.com

Money Supply blog on central banks | FT.com
 
Isn't it lovely to see how we gave some investors the power to decide over the well-being of a nation?
 
Yes and you should get good value for your dollar when the new currency of the potato is announced.
 
Then you'll be owned by Monsanto, or Bayer. Choose!

Your ideas intrigue me and I wish to subscribe to them.

I'm hoping if this climate change really gets going and the Gulf Stream shuts down we can turn the country into a massive ski resort.
 
I am of 100% Irish ancestry. I have family in Ireland. My cousin moved here for a few years to try and land his dream job. When it didn't work, he moved back.

I hope he's alright these days.
 
Your ideas intrigue me and I wish to subscribe to them.

I'm hoping if this climate change really gets going and the Gulf Stream shuts down we can turn the country into a massive ski resort.

It all depends on which potato will become your currency.

A ski resort would be cool! One more reason to visit. If your country goes into hyperinflation you can fuel climate change by burning the notes by the billions.
 
Will the Irish once again turn to England soil to get themselves the fuck out of Ireland?
 
8lOIE.jpg


Meet your new bosses
 
There is currently a full scale run on Irish banks in progress. It started a few months ago (well, actually, it probably originally started back in mid 2008 but some of the funds came back in following the goverment bank guarantee in the autumn of that year) and gathered pace in the last ten days. The Irish owned banks are all busted flushes and are dependent on the ECB to the tune of many billions for financing their loan books.

Ireland Goes Bust, Irish Bank Run
 
Thanks Financeguy for the added info. If you don't mind me asking. What is the unemployment rate in Ireland? Is it higher than the U.S?

Sorry, A stor, only just saw your post. I think it is around 14% as compared to around 10% in the US.
 
There were also signs that the UK, Ireland’s neighbour but not a member of the eurozone, was considering providing its own direct loans as part of the aid effort.

George Osborne, UK chancellor, was considering billions of pounds in loans to help the bail out, a move likely to be more palatable to his Conservative party’s Eurosceptic members than joining in an EU package.

FT.com / Europe - Debt crisis team heads for Dublin

This is encouraging. If we must take a loan I would rather we take it from a friendly neighbour that has been a beacon of civilisation and democracy around the globe for centuries than from the foreigners in Europe who have started an economic war against us.
 
Sorry, A stor, only just saw your post. I think it is around 14% as compared to around 10% in the US.

I heard this tonight on BBC America, along with William and Kate's engagement. Then, it was said. Wouldn't the Irish love having a "royal family" to take their minds off of the economy. WTF? Ireland's history is filled with kings and queens, until.......well we all know what happened there.
 
FT.com / Europe - Debt crisis team heads for Dublin

This is encouraging. If we must take a loan I would rather we take it from a friendly neighbour that has been a beacon of civilisation and democracy around the globe for centuries than from the foreigners in Europe who have started an economic war against us.

I don't blame you. My family, we live according to our modest means. Every day in the mail I am recieving letters to invite me to take out loans, credit cards and etc. I don't do it. I own my home, no mortgage. Just yearly property taxes and home owners insurance. I have no credit card debt. I am staying put. I don't need a lot, but I want to keep what I so worked hard to achieve. Must be the Irish in me.
 
Sorry, A stor, only just saw your post. I think it is around 14% as compared to around 10% in the US.

The 10% unemployment figure is bogus, a statistic bandied about by the government to hide the real number, which is probably closer to 13%-14%, with underemployment driving those numbers even higher.

It's bad everywhere.
 
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