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Republic of Ireland All events and potential meets in Ireland

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(Post Link) post #1 of 66 Old 21-11-10 Thread Starter
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Latest IMF Bailout

On the news now.... Looks like we're knackered...
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Yep, it's been on the cards for a long time now we'd have been better off if we did it when Greece went kaput. Basically Ireland was played by Germany with them suggesting that the bank bailout was a good idea because they were the bond holders of the loans to the irish banks so goodbye ireland inc hello imf and no money for a long time.
 
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Congratulations, you all just became a citizen of a banana republic called Brokenistan. Twinned with Absurdistan formerly known as Hungary. (The IMF helped us out in the early 80's, we haven't even payed back the interest on it.)
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Maybe we can get Bono to fit for debt forgiveness for Ireland now.....
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Don't let them mess with your Corporation Tax rates or your country will not recover in our life time! I hear that N. Ireland is looking to establish a similar to your present rate, if they achieve it? It could be curtains for the south and its European tax heaven for Global industry!
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It is truly obscene!

The sheer incompetence and abandon that Bankers and so called politicians have squandered away all of our futures and our children's futures !

Correct me if i am wrong but wasn't a figure of 78 Billion mentioned in the news today??......1 Billion for each and every citizen of the British Isles ....

...where & what the hell have they spent it all on?
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Property - remortgaging -again-again!! HP Luxury Cars, Overdrafts, Holidays, Visa Cards, Master Cards, American Express, Loans. Thats all that i can think of at the min!

ie: Purchases dependant upon the gross over valuation of property, and financed accordingly.
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I think RBS bank have lent Irish banks about €40B -- so the offer of €7B by the UK government is really to try to stop the contagion of the Irish banks spreading...

The summary of the problem is:
- Ireland joins monetary union (currency union) and is feed very cheap credit during the early 2000s when the Irish economy is already booming (but German and France are in the doldrums)
- Irish financial regulator is asleep as Irish banks compete with each other to shovel the cheap money out to any gombeen developer with a half arsed plan
- Property/construction bubble develops
- Irish Bubble starts to burst in 2008 when US credit crunch starts to spread around the globe
- Bubble bursts in late 2008/2009 as property prices crash due massive over supply and zero demand....
- Irish banks become insolvent
- Irish government provide blanket guarantee to banks to try to stave off the problem
- Today, the game is up and it seems an additional €100B is needed to balance the books....
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Quote:
Originally Posted by kyote00 View Post
I think RBS bank have lent Irish banks about 40B -- so the offer of 7B by the UK government is really to try to stop the contagion of the Irish banks spreading...

The summary of the problem is:
- Ireland joins monetary union (currency union) and is feed very cheap credit during the early 2000s when the Irish economy is already booming (but German and France are in the doldrums)
- Irish financial regulator is asleep as Irish banks compete with each other to shovel the cheap money out to any gombeen developer with a half arsed plan
- Property/construction bubble develops
- Irish Bubble starts to burst in 2008 when US credit crunch starts to spread around the globe
- Bubble bursts in late 2008/2009 as property prices crash due massive over supply and zero demand....
- Irish banks become insolvent
- Irish government provide blanket guarantee to banks to try to stave off the problem
- Today, the game is up and it seems an additional 100B is needed to balance the books....
Is anybody going to get their arses kicked for this ?....Or are their arses on some far away beach in paradise ?
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One small word caused this .. greed !
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Madness

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Originally Posted by Dermo View Post
One small word caused this .. greed !
You said it....
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You said it....

Look at you. First stalking and now anger.
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Originally Posted by bat_lezerby View Post
Look at you. First stalking and now anger.
Yea what are you going to do about it!!!



It's the prescription drugs... I'm all over the place....








PS. For the record, I'm not a stalker, I'm not an angry old man and I'm not on prescription drugs. I pose no threat to the general Alfa Romeo community... unless you're a politican...
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PS. For the record, I'm not a stalker, I'm not an angry old man and I'm not on prescription drugs. I pose no threat to the general Alfa Romeo community... unless you're a politican...
That's exactly what they told us a drug taking stalker would say.
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That's exactly what they told us a drug taking stalker would say.
They? They? Who's they? I swear paranioa is such a killer...
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NO !!!!
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Madness

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is anybody going to get their arses kicked for this ?....or are their arses on some far away beach in paradise ?
no !!!
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According to RTE news tonight we're going to be charged just under 7% interest rate! We're going to be ridden in taxes lads. . Running a car is getting rough.

And as asked above I suppose these ****ers get off scott free? Wonder if there is really a Garda investigation going on in the banks?

Last edited by Cathal_H; 26-11-10 at 20:22. Reason: Typos
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According to RTE news tonight we're going to be charged just under 7% interest rate! We're going to be ridden in taxes lads. . Running a car is getting rough.

And as asked above I suppose these ****ers get off scott free? Wonder if there is really a Garda investigation going on in the banks?
I wonder if it will be as thorough as the 'Shergar' one?
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We are likely to default on the loans, no matter what they say we don't have enough money to keep it paid long term..

As for jailing people that caused it, not in a million years will you see it...its the same auld story. "I'll tell on you, if ya tell on me"

Until the corruption that has existed since well before Haughey era in both Government and banking system is addressed. We'll make no progress.

A good documentary to watch is "the House of Cards" it explains the crash in the American property bubble. And how Euro Zone banks bought up Billions of repackaged debt that was useless....

I feel sorry for the folks loosing their homes, we lost our family home in the 70's thanks to my father. I can still remember the bailiffs kicking us out. And that was 40 years ago...

Disgusted! doesn't come close to how I feel...as my granny used to say "The Curse of God on them all"

Last edited by Mjet; 26-11-10 at 21:24.
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What is really scary on the even bigger picture is that China ownes 95% of American debt
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What is really scary on the even bigger picture is that China ownes 95% of American debt
Bingo, and that's gonna cause one hell of a crash in the years to come...
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It'll be a new world super power as well...
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Quote:
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We are likely to default on the loans, no matter what they say we don't have enough money to keep it paid long term..
Precisely right and the sooner Ireland just owns up to this the better. We have a choice to eat humble pie, default and try and rebuild our lives (a bit like a personal bankruptcy), or struggle on for the next 3 years living on scraps before we go bankrupt anyway. But no, we will strip our poor and old of any dignity, destroy our public services and over tax our young best and brightest who will just emmigrate (if they have any sense). We're going to take out 6b costs in 2011 which will be the largest cuts in the history of the state... but this is just chickenfeed compared to the debt that is going to end up on our balance sheet if we continue to fund the banks and continue to take "bail outs". This could well end up being 200b, a just incomprehensible number for a country the size of Ireland. By 2014, we will be paying 13.4b interest payments alone if the leaked interest rate of 6.7% is correct. Yeah that's right folks, more than double the 2011 budget cuts in nothing more than interest payments. Europe of course know this full well and have protected their own banks by transferring the private debt of German/French banks and share/bond holders to that of the EU and IMF and yet again the private investor is protected at the expense of global taxpayers. It's not a bail out, it's giving yet more credit to an untrustable, over-debted shower of idiots and is nothing short of disgusting. We are like Bray Wanderers against Bayern Munich at the moment and it's just embarrassing.
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