PowerSwitch Main Page
PowerSwitch
The UK's Peak Oil Discussion Forum & Community
 
 FAQFAQ   SearchSearch   MemberlistMemberlist   UsergroupsUsergroups   RegisterRegister 
 ProfileProfile   Log in to check your private messagesLog in to check your private messages   Log inLog in 

FU EU

 
Post new topic   Reply to topic    PowerSwitch Forum Index -> Ireland
View previous topic :: View next topic  
Author Message
emordnilap



Joined: 05 Sep 2007
Posts: 13972
Location: Houǝsʇlʎ' ᴉʇ,s ɹǝɐllʎ uoʇ ʍoɹʇɥ ʇɥǝ ǝɟɟoɹʇ' pou,ʇ ǝʌǝu qoʇɥǝɹ˙

PostPosted: Thu Nov 25, 2010 8:44 pm    Post subject: FU EU Reply with quote

I think I like this guy:

Matthew Lynn wrote:
the EU-IMF rescue looks like financial methadone. It numbs the pain and gets you off drugs, but its addictive. The cure can be worse than the disease. Months have passed since the Greek bailout, and there isnt much sign of Greece accessing the capital markets. The yield on Greek bonds remains more than 11 percent. Its a Hotel California package: You can check out anytime you like, but you can never leave.


and he also wrote:
this is mostly about rescuing EU financial institutions. It is the Irish banks that are in trouble, and if they go down, it will cause massive losses at other European lenders. But why should the Irish people worry about that? If French, German or British banks suffer big write-downs, let their governments deal with them. Ireland could just close its banks -- such a small country doesnt need its own finance industry any more than it needs its own carmakers.


Precisely. Why should I support gamblers? I have trouble giving to beggars on the street who smoke!
_________________
"Buddhists say we come back as animals and they refer to them as lesser beings. Well, animals aren’t lesser beings, they’re just like us. So I say fụck the Buddhists" - Bjork
Back to top
View user's profile Send private message
emordnilap



Joined: 05 Sep 2007
Posts: 13972
Location: Houǝsʇlʎ' ᴉʇ,s ɹǝɐllʎ uoʇ ʍoɹʇɥ ʇɥǝ ǝɟɟoɹʇ' pou,ʇ ǝʌǝu qoʇɥǝɹ˙

PostPosted: Tue Dec 14, 2010 12:03 pm    Post subject: Reply with quote

Here's an even clearer analysis.

Quote:
Irish citizens may bring down the bailout of foreign bank creditors by voting at the ballot box, but if they do not, they will bring about a default of some kind by voting with their feet. We now face a negative spiral in which austerity causes emigration, which increases the burden of the debt, which ultimately leads to more austerity. We need a game-changer to break the cycle, but what might it be? Since the fundamental problem is that Ireland is insolvent, the smart thing to do is to tackle our debt burden head-on, but the Europeans* have vetoed this.


*and the current Irish government.
_________________
"Buddhists say we come back as animals and they refer to them as lesser beings. Well, animals aren’t lesser beings, they’re just like us. So I say fụck the Buddhists" - Bjork
Back to top
View user's profile Send private message
Display posts from previous:   
Post new topic   Reply to topic    PowerSwitch Forum Index -> Ireland All times are GMT + 1 Hour
Page 1 of 1

 
Jump to:  
You cannot post new topics in this forum
You cannot reply to topics in this forum
You cannot edit your posts in this forum
You cannot delete your posts in this forum
You cannot vote in polls in this forum


Powered by phpBB © 2001, 2005 phpBB Group