Political assessments of ESM

[PaddyJoe]

The DOF gets a bit of spin out. Not much of a response, it has to be said.

However, Ireland sees "no cause for concern" in the statement issued by German, Dutch and Finnish finance ministers following their three-way meeting in Helsinki, while technical work on securing a retrospective deal on Ireland's bank-rescue costs continue, the Irish Finance Ministry said.
"We welcome their ideas on how to give effect to the decision of euro-zone leaders that the ESM should have the capacity to recapitalize banks directly, following the establishment of an effective single supervisory mechanism," the spokesman said. "These ideas will feed into our discussions in the euro group and at heads of state level over the coming months."


Read more: http://www.foxbusiness.com/news/2012...#ixzz27WNrXRA1

[Dr. FIVE]

lol

of all the institution in the land to tell us there is "no cause for concern"

We're fecked!

[Dr. FIVE]

A huge amount of concern so

[ang]

David Murphy not happy -


@davidmurphyRTE

The ESM Treaty doesn't distinguish between banking debts of the past and those of the future. Germany et al have decided to set new rules

[MPB]

There was a very interesting presentation from Michael Dooley, 20 years at the Fed & IMF in Dublin earlier in the year.
He was talking about their dealings in Latin America in the 80s and the many, many parallels





The interesting bit though is him talking about all the backroom and power brokering at the time.
He says the only negotiations that mattered then were between creditor countries and their banks. Anything after that is only a side show.

No reason why it would be any different now and we have plenty of examples to back it up.
Starts around 23 minutes in here but the whole thing is worth watching. Very stark

The European Sovereign Debt Crisis - YouTube

It has always been obvious to me.

Politicians are stealing money from their citizens in order to recapitalise insolvent banks.

Eventually countries will do what they should have done at the beginning and default, but not before the bankers and corrupt politicians have manouvered themselves into positions where they can benefit.

Meanwhile our Govt tells us there is always the prospect of a deal in the future, as long as we keep paying the bondholders.

Why should Irish people pay tax to such a corrupt Govt?

[disability student]

Germany is using the ECB to launder EU money to its Banks.

This has always been about bailing out the profligate German Banking system.

+100 nail on the head.

It was never about the debt reduction or DOF's term 're structuring'.

Truth came out in full blast.

No game changer nor seismic shift at all. It's all austerity, austerity, austerity for the next twenty years.

[MPB]

+100 nail on the head.

It was never about the debt reduction or DOF's term 're structuring'.

Truth came out in full blast.

No game changer nor seismic shift at all. It's all austerity, austerity, austerity for the next twenty years.

Austerity has a life span and it won,t last anything like 20 years. It is nearly over.

But it won,t end with Govts deciding that stimulus and job creation is the solution. It will end with people deciding that Govts and Bankers are the problem.

[PaddyJoe]

Leader's Questions in the Dail tomorrow at 10.30am should be worth a look.

[Dr. FIVE]

They and most of the news will all be going for Phil Id say.

[MPB]

Leader's Questions in the Dail tomorrow at 10.30am should be worth a look.

I doubt it.

More nonsense and waffle.

The answers will always be about tomorrow, never today.

We were told October and have already had that timeline pushed out to god knows when. They will eventually get to the next election, when they will make the same false promises all over again.

Although, I believe events will overtake the spoofers this time.

[Greengoddess]

http://www.forbes.com/sites/karlwhel...and-drop-dead/

Are we even alive?

[MPB]

Time to let the Germans bail themselves out, me thinks.

We can,t keep looking after them.

[ang]

http://www.forbes.com/sites/karlwhel...and-drop-dead/

Are we even alive?

Someone very unhappy with that Karl Whelan post -


@WhelanKarl

Just got email telling me I should be sacked and charged with treason for my Forbes article! Apparently I "repeatedly do down our leaders"

[ang]

Declan Ganley wants us all to hit the streets"

In rare times it's morally necessary 4 a nation 2 engage in orderly peaceful protest by taking 2 streets, Ireland must do so soon #BankDebt

[C. Flower]

Declan Ganley wants us all to hit the streets"

For a United States of Europe?

Meanwhile, the Left is sitting on its hands over this.

It is only capitalism thrashing around like a dinosaur in its death agony, after all - why would socialists want to pay any attention to that ?