 Romney2012Defeat Obama 2012-Chg we can believe inPremium
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2 edits | Ireland trying to renegotiate bailout rules; Euro turmoil The bailout of the Irish banking collapse of 2008 resulted in EU/IMF loans that will cripple Irelands economy for years. The just concluded election has a new government that is demanding changes in the bailout terms. The Germany dominated EU is likely to refuse to alter the terms. The coming impasse is suppressing the Euro economies and the turmoil is likely to spread to Greece & Spain & Portugal as well. Risky investments in Europe and economic malaise is likely to be the result. And recent oil shocks from mideast unrest won't help matters.
»online.wsj.com/article/BT-CO-201···608.html
»www.guardian.co.uk/commentisfree···ion-debt
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horsemouthPlease Clarify My CSPPremium
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canada | The only way that I see out of this is for Ireland to default on all of the loans and go the same way as Iceland. They may threaten this to get a better deal tho. |
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1 edit | said by horsemouth:The only way that I see out of this is for Ireland to default on all of the loans and go the same way as Iceland. They may threaten this to get a better deal tho.
Iceland's president again told the UK & Netherlands to shove it and Iceland voters get to ratify his decision and ignore their own parliament.
»www.google.com/hostednews/afp/ar···5a98.421
Ireland may have to do the same thing if they ever want to get out from under Germany & the IMF's thumb.
In any case the EU is in for some tough economic times as the banks are still protecting their biggest bond holders at everyone elses expense. |
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horsemouthPlease Clarify My CSPPremium
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canada | said by Romney2012:said by horsemouth:The only way that I see out of this is for Ireland to default on all of the loans and go the same way as Iceland. They may threaten this to get a better deal tho.
In any case the EU is in for some tough economic times as the banks are still protecting their biggest bond holders at everyone elses expense. I live on the East Coast of Canada... On a cold night if the wind is blowingh just right you can hear the humm of Irish CPU'S Printing MONEY. And I say to myself.
»www.youtube.com/watch?v=SzJY96m3lkg |
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Romney2012Defeat Obama 2012-Chg we can believe inPremium
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The new government has 3 weeks to squeeze a better deal out of the Germans or Ireland will go in to fiscal crisis:
»news.yahoo.com/s/nm/20110306/bs_···_ireland
and the new governments popularity will take a nosedive. |
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 lolwhatYou're getting warmerPremium
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PonziWorld
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Horsemouth has it. Ireland needs to default and tell the banksters to go fuck themselves. Iceland did it just a short time ago, and their economy is already well on its way to recovery.
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Romney2012Defeat Obama 2012-Chg we can believe inPremium
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Euro turmoil Many Eurozone states begging for relief from debts and the stronger states are loathe to help them because their own voters don't want their states bailing out the weak sisters.
»news.yahoo.com/s/ap/20110311/ap_···l_crisis
The eurozone's weakest states on Friday pleaded for more help from their richer neighbors at a summit in Brussels,
Greece and Ireland are reeling from the effects of steep budget cuts, while Portugal and much larger Spain are scrambling to avoid a similar fate. The governments of fiscally strong states like Germany, the Netherlands and Finland, meanwhile, are reluctant to put up more money as pressure from their taxpayers grows.
In light on those problems, investors and economists are demanding from EU governments new measures to tackle the crisis that go beyond massive national bailouts. They have set their hopes on an overhaul of the eurozone's euro750 billion ($1 trillion) rescue fund that could see it start buying bonds on the open market or extend short-term liquidity to countries facing unexpected costs, such as big bank bailouts.
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kudos:4 | Buffett warns; Portugal nears collapse Warren Buffett thinks the Euro may fall. As another country(Portugal) nears economic collapse.
»news.yahoo.com/s/nm/20110324/bs_···ett_euro
A collapse of the euro currency was not "unthinkable" if it comes under too much strain, billionaire investor Warren Buffett told CNBC on Thursday.
"Enough of a strain could cause it to fall apart," Buffet told the news channel. "I know some people think it is unthinkable, I don't think it is unthinkable."
Portugal's financial collapse appeared inevitable on Thursday, as markets took the government's resignation as proof the debt-heavy country will lose its year-long battle to avoid a bailout.
Investors pushed the interest rate on Portugal's 10-year bonds to a euro-era record of 7.71 percent — an unsustainable financial burden that could soon force the country to ask for a rescue like Greece and Ireland did last year. Analysts estimate a bailout would amount to euro80 billion ($113.02 billion).
The upheaval in Portugal was a blow for European leaders who are trying to reassure markets about the soundness of investments in the 17-nation eurozone.
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