Its Official Ireland joins Greece

BillBarnacle


Joined: 20/04/2009
Posts: 167

Message Posted:
21/11/2010 19:38

Having accepted EU cash the Irish no longer have a country they can call their own.I am sure for political reasons they will be allowed to make the occasional statements of how they are still the decision makers but the reality is that EU money men and unelected commissars now rule Ireland.



Still they had a choice.The Irish voted to join the EURO and to adopt the LISBON TREATY



Enjoy your future



Everyone else beware the EU

Lilli



Joined: 21/07/2008
Posts: 13081

Message Posted:
21/11/2010 19:55

please tellme you are joking, i cant belevie it . sad day for ireland x

lovingcyprus


Joined: 02/03/2007
Posts: 1272

Message Posted:
21/11/2010 20:00

BillBarnacle



They voted once and said No to the Lisbon Treaty and then because the politicians were not happy there was a second vote which as we know was yes

No1Doyen


Joined: 04/07/2008
Posts: 16617

Message Posted:
21/11/2010 20:20

They'll be a few others following them.

BillBarnacle


Joined: 20/04/2009
Posts: 167

Message Posted:
21/11/2010 20:44

Oh yes



This is only the start



If you have EUROs and can get out of them do so or it will be to late.The Euro is falling and all these interventions are simply delaying the end.The markets will always win in the end and the Euro is finished without radical change of the EU which aint going to happen

CJtill


Joined: 02/05/2008
Posts: 836

Message Posted:
21/11/2010 21:04

No sympathy what so ever.

I bet those who changed their vote second time around are kicking themselves now.

Maybe they should have gone....best out of three ?

Michael

No1Doyen


Joined: 04/07/2008
Posts: 16617

Message Posted:
21/11/2010 22:12

Tourism in the trnc will be booming next year without doubt.

Lazy days


Joined: 24/07/2008
Posts: 847

Message Posted:
21/11/2010 22:59

Message 6

Excellent - am still chuckling

Brinsley


Joined: 04/04/2009
Posts: 6858

Message Posted:
21/11/2010 23:07

'Give me a Punt up the old Drachma', she cried enthusiastically!



Richard

newscoop


Joined: 23/12/2007
Posts: 2197

Message Posted:
22/11/2010 06:24

At least they had a vote,



Did the Brits?

Mr Vince


Joined: 24/07/2008
Posts: 696

Message Posted:
22/11/2010 08:12

When did Irish politics change to seek ENOSIS with Greece?

LOvegod


Joined: 22/03/2009
Posts: 161

Message Posted:
22/11/2010 10:05

Careful, Cameron would love to have us in the Euro too. Looks as if hes giving Ireland 8 billion of our money plus billions more to his EU masters. What happened to his cast iron guarantee on a referendum on the Lisbon treaty. Ha hes a joke !

Geejay


Joined: 18/04/2009
Posts: 475

Message Posted:
22/11/2010 10:17

Portugal will be the next one of the "PIGIS" to need financial support followed by Spain, then Italy.



Unlike the others though, Ireland's is a new loan, massively increasing their total indebtedness. Our taxes of course will also be used to prop up Irelands economy. I hope that proves to be a wise investment and we get the money back eventually.

The other's loans only seem to be mainly swapping debt for debt, albeit at a lower interest rate.



For all of them the debt will remain for years until lowered to fit the European Central Bank parameters, by spending reduction or increasing revenue. Twas ever thus !

No1Doyen


Joined: 04/07/2008
Posts: 16617

Message Posted:
22/11/2010 15:26

So let's get this right. The UK are going to lend Ireland £7billion to help bail them out. The UK is going to have to borrow the £7billion in order to give the Irish the money!

Coachie



Joined: 29/07/2008
Posts: 2135

Message Posted:
22/11/2010 20:47

Bill..was just thinking myself as to how we can "lend" another country that sort of money when we are up to our necks indebt.Something just does not add up ...or could it be we are not as bad ly off as the terrible duo make out....

No1Doyen


Joined: 04/07/2008
Posts: 16617

Message Posted:
22/11/2010 21:00

Coachie, good to see you on here again.



You could be right about that. We may not be as skint as they say we are. )

mmmmmm



Joined: 19/12/2008
Posts: 8398

Message Posted:
22/11/2010 21:03

Best read this folks - if you don't 'get' why 'we' HAVE to do it.. it's all about confidence.. NOT doing it would be far worse..



'We' own the RBS ( near enough 80%) and through it's subsidiary ( Ulster Bank) lots of loans have gone 'sour'..

mmmmmm



Joined: 19/12/2008
Posts: 8398

Message Posted:
22/11/2010 21:04

THIS is what I meant to add:



http://www.bbc.co.uk/news/business-11805529



Check out the Robert Peston column to the right ....

No1Doyen


Joined: 04/07/2008
Posts: 16617

Message Posted:
22/11/2010 21:19

Mark. I particularly liked this response to the article.



"Personally I find the idea that the British Tax Payer has to lend the Irresponsible Irish money that could be raised through taxation abhorrent.



While I appreciate a bailout is necessary, the Irish could be doing more to raise funds through their own fiscal policy, before running cap-in-hand to their neighbors who they are undermining through their corporate tax policy.



We are in effect subsidizing American Corporations to enable them to make profits at our expense..."

measey


Joined: 07/02/2009
Posts: 1037

Message Posted:
22/11/2010 21:46

Crazy Crazy Crazy. When will the UK accept as much as we would like to help the Irish we dont have the means to do so , you cant expect all the people with Business in the UK to buckle down and make cuts to servive in a reccesion then go promising monies we dont have. Now if we have a surplus of money gives some to are service men and pensioners etc.



Measey.

Middle Easter


Joined: 13/06/2007
Posts: 146

Message Posted:
22/11/2010 22:24

All,



6 m's is nearest the truth. All developed economies are 60%+ consumer driven i.e. for every pound/euro spend 60% is re-spent again within the economy. So when banks stop lending & consumers stop spending the whole economy implodes & mass job losses in the service sector ensue.



The loan to Ireland of 7Billion is a form of Quantative Easing i.e. in laymans terms the government prints more money which it spends on assets (in this case I assume Irish Treasury Bonds) which increases the money supply, which keeps people spending, but it devalues Sterling against other currencies



BillBarnacle, when you say get out of the Euro as it is 'doomed', I couldn't disagree more. The UK is has a huge debt & has recovered less well than the EU states from recession & the US economy is frankly on its arse. SO if you advocate changing Euro's to Sterling or Dollars they are both infintely weaker than the 'weak' Euro.....



Food for thought..

Lilli



Joined: 21/07/2008
Posts: 13081

Message Posted:
22/11/2010 22:31

Quantitive Easing then, watch the movie Ziegiest x

Middle Easter


Joined: 13/06/2007
Posts: 146

Message Posted:
22/11/2010 22:51

Lilli,



You are the 'honey' of the forum (& quite right too) so I cannot be too abrasive, but the movie you mention hinges on baseless assumptions...it is well put together, but pure speculation nevertheless.



Re 'Quanttive Easing' whilst I mentioned it, I personally believe it is the road to ruin. It is like taking money out of the till & leaving an IOU in its place. Ultimately the cupboard is bare (i.e. the currency is worthless) & no-one will accept your IOU's



All I am saying is the Euro may have its issues, but it is FAR stronger than Sterling, which in tirm is FAR stronger than the US Dollar....so don't flee the Euro (no thanks required-jut acknowledge my post in a year's time)



By the way, I love reading your posts as it gives me faith in humanity.......

BillBarnacle


Joined: 20/04/2009
Posts: 167

Message Posted:
22/11/2010 23:05

Middle Easter



I agree sterling is weak and the dollar is weaker but both will survive. The euro on the other hand will ONLY survive if changes are made to the way the eurozone is managed by new EU treaties. This is unlikely to happen due to number of countries that would now vote against them in referenda

Lilli



Joined: 21/07/2008
Posts: 13081

Message Posted:
22/11/2010 23:16

Hi Middle Easter, thank you so much. Now I will watch it again with a different view. I really do not know much about currencies but I think what shocked me about that movie was 9/11. You are probably right about the EURO but when I saw PIGIS now who is next, maybe the ROC. Im so sad for Ireland I was at dinner tonight with friends and they said will ireland go back to eating potatoes. What I said we have Galway Oysters lobsters crabs great salmon, the best meat (apart from welsh lamb) what the hell did we need a Celtic tiger for. Yes many US ans Asian companies invested , property prices where thro the roof, now what we are sold out. thank you so much for being interested in what i write and i hope to meet you one day xxx

LOvegod


Joined: 22/03/2009
Posts: 161

Message Posted:
22/11/2010 23:49

middleaster your assumption regarding sterling being weaker than the euro isnt correct. sterling will now gradually appreciate against both the dollar and the euro. our gdp figures should be out on wednesday and i see GBP/EUR at 1.30 next year.

Middle Easter


Joined: 13/06/2007
Posts: 146

Message Posted:
23/11/2010 22:27

LOvegod



I would 'love' to believe as I have 250K Euro mortgage & I am paid in sterling! I do not think you are right. UK debt is screamingly high. Properrty prices are overheated & we are nation of homeowners. If house price don't move, no-one will spend.



London is the Centre for financial institutions, based on levereged money i.e. borrowed. and EVERY economist indicates the whole market has to hugely de-levereage to adjust...who will suffer most, the UK.



Of course the Euro has its nonsense too. But the financial block it represents makes sterling look like a bit part actor. Check out the Euro reserves of China/India as they start to 'can' the US Dollar & you will see where the new players are heading.



Economists say the Euro return to parity & go so low as 0.80 i.e. 1 Euro to 1.25 Pounds that the UK will be so isolated, they will join the Euro as left with no choice with 30% inflation overnight, just like decimalisation in '71. 2010-2020 is likely to be bleak for the UK..

LOvegod


Joined: 22/03/2009
Posts: 161

Message Posted:
23/11/2010 23:31

ha no chance middle easter. the euro will survive ....just. but at the end of the day currency traders know the euro is just a fantasist currency. a game played by euro fanTICS WHO IN A COULPLE OF YEARS TIME WILL BE BUYING SWISS FRANCS AN STERLING. ANYTHING BUT THE SICK AND DYING EURO.;