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Thread: Further bailouts for Irish banks 'can't be excluded' according to latest EU report

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    Default Further bailouts for Irish banks 'can't be excluded' according to latest EU report

    Another warning from the latest Troika visit
    "Irish banks have been capitalised to a very high level relative to peers in other European countries and relative also to a conservative adverse scenario based on highly credible stress tests," the commission said in the documents obtained by Bloomberg News, which were supplied to German politicians.

    "Yet the risk of possible further capital needs in the future cannot be fully excluded, especially if the growth outlook deteriorates beyond what is currently expected."
    http://tinyurl.com/acxjueu
    Last edited by PaddyJoe; 11-01-2013 at 06:06 PM.

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    Default Re: Further bailouts for Irish banks 'can't be excluded' according to latest EU

    Quote Originally Posted by PaddyJoe View Post
    Another warning from the latest Troika visit

    http://tinyurl.com/acxjueu
    They must have been reading our "Sovereign Default" thread.
    “ We cannot withdraw our cards from the game. Were we as silent and mute as stones, our very passivity would be an act. ”
    — Jean-Paul Sartre

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    Default Re: Further bailouts for Irish banks 'can't be excluded' according to latest EU report

    Simple- they'll negotiate a deal on the Promissory Notes, Michael Noonan will present himself and Kenny as super-men and then amid all the stupid hooting any daylight achieved will again be given away by at the same time holding another round of 'recapitalising' dead banks.

    They'll give with one hand and take more with the other and the gobshytes won't be able to follow it because we'll have a parade of drawn out half-questions and half-answers in the media for the RockMonkeys.

    It'll rain. Somewhere a dog will be run over by a car. The debt sustainability policy will continue and the biggest political argument will be whether we won something or lost something in the middle there.

    We will emerge by Christmas. Although emerging from what to what will never be spelled out. It won't be the debt sustainability policy and thats for sure.

    The main advantage that the politicians have in Ireland is this- they are fairly thick and don't understand what is happening in the financial markets or economically. But fortunately for them their constituents are thicker.

    Which leaves a margin for timely lying in the middle which keeps TDs and Senators employed. The rest is just cosmetics.
    Think National. Act Local. Oh- and superstition is just the dark matter of human history.

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    Default Re: Further bailouts for Irish banks 'can't be excluded' according to latest EU report

    Hmmmm these documents were released by the German finance department why oh why did our own DoF not inform us.

    Peter Mathews is also of the similar opinion and a staggering €60BN is his estimate.
    Thomas Jefferson : Banking Establishments are More Dangerous to our Liberties than Standing Armies.

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    Default Re: Further bailouts for Irish banks 'can't be excluded' according to latest EU report

    Quote Originally Posted by ang View Post
    Hmmmm these documents were released by the German finance department why oh why did our own DoF not inform us.

    Peter Mathews is also of the similar opinion and a staggering €60BN is his estimate.
    Because they are throwing away tens of millions on bond issues and sales of assets in order to try to give the opposite impression.

    A spokesman for the Department of Finance declined to comment.
    “ We cannot withdraw our cards from the game. Were we as silent and mute as stones, our very passivity would be an act. ”
    — Jean-Paul Sartre

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    Default Re: Further bailouts for Irish banks 'can't be excluded' according to latest EU report

    It seems to be taken as a given by most commentators in recent weeks that Irish banks are going to need more capital at some stage in the next 18 months. The big questions are how much is required and who's going to stump it up.
    As of now the answers to both questions are that nobody seems to have a clue.

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    Default Re: Further bailouts for Irish banks 'can't be excluded' according to latest EU report

    It will come. Don't know from where but I'm more worried about the strings tbh

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    Default Re: Further bailouts for Irish banks 'can't be excluded' according to latest EU report

    Quote Originally Posted by Dr. FIVE View Post
    It will come. Don't know from where but I'm more worried about the strings tbh
    The strings for us yes but the banks themselves will be very worried about having ESM reps on the board who will be able to *direct* in decisions like Salaries and bonuses etc.
    Thomas Jefferson : Banking Establishments are More Dangerous to our Liberties than Standing Armies.

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    Default Re: Further bailouts for Irish banks 'can't be excluded' according to latest EU report

    Quote Originally Posted by ang View Post
    The strings for us yes but the banks themselves will be very worried about having ESM reps on the board who will be able to *direct* in decisions like Salaries and bonuses etc.
    At least Anglo/IBRC will be free of ESM interference and also free to continue awarding politically favourable writedowns
    Politics is the gentle art of getting votes from the poor and campaign funds from the rich, by promising to protect each from the other. ~Oscar Ameringer

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    Default Re: Further bailouts for Irish banks 'can't be excluded' according to latest EU report

    Quote Originally Posted by DCon View Post
    At least Anglo/IBRC will be free of ESM interference and also free to continue awarding politically favourable writedowns
    Yes and has there been a dumping during that very process. People were paying IBRC mortgages into AIB so room for maneuver there.

    NAMA very quiet on what they have and haven't got from the process............
    Thomas Jefferson : Banking Establishments are More Dangerous to our Liberties than Standing Armies.

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    Default Re: Further bailouts for Irish banks 'can't be excluded' according to latest EU report

    Europe expects Ireland to exit bailout without a deal for AIB and the Bank of Ireland -

    However, the notion of compensation for governments saddled with the debts of the present crisis remains a distant dream.
    http://www.irishtimes.com/news/world...Hp5-Rk.twitter

    The link to Sovereign Banking debt remains fully intact !



    On a side note the National lottery advises winners NOT to deposit their winnings in Irish banks. Now there's confidence for you.

    And she advised against depositing the money in Irish banks, not just because of their role in the collapse of the economy but also because they could still collapse themselves.
    http://www.independent.ie/irish-news...-29379233.html
    Thomas Jefferson : Banking Establishments are More Dangerous to our Liberties than Standing Armies.

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    Default Re: Further bailouts for Irish banks 'can't be excluded' according to latest EU report

    Now this is interesting -

    @LorcanRK
    what's going on here? Irish gov deposits at covered banks
    Attached Thumbnails Attached Thumbnails Click image for larger version. 

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    Thomas Jefferson : Banking Establishments are More Dangerous to our Liberties than Standing Armies.

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    Default Re: Further bailouts for Irish banks 'can't be excluded' according to latest EU report

    Quote Originally Posted by ang View Post
    Now this is interesting -

    @LorcanRK




    The banks are staggering on in insolvency, I am quite sure, and are getting secret supports as they were in 2006-8.

    The Dork of Cork. August 16, 2013 at 2:56 pm #
    The “Irish” M1 money supply (cash and electronic cash in checking accounts) is rising by a considerable amount for some reason.
    September is going to be interesting.
    “ We cannot withdraw our cards from the game. Were we as silent and mute as stones, our very passivity would be an act. ”
    — Jean-Paul Sartre

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    Default Re: Further bailouts for Irish banks 'can't be excluded' according to latest EU report

    Quote Originally Posted by C. Flower View Post
    The banks are staggering on in insolvency, I am quite sure, and are getting secret supports as they were in 2006-8.



    September is going to be interesting.
    The IRBC wind up apparently - towards the end of page 3 -

    http://www.centralbank.ie/polstats/s...statistics.pdf

    Would be great if someone would explain this.
    “ We cannot withdraw our cards from the game. Were we as silent and mute as stones, our very passivity would be an act. ”
    — Jean-Paul Sartre

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    Default Re: Further bailouts for Irish banks 'can't be excluded' according to latest EU report

    Quote Originally Posted by C. Flower View Post
    The IRBC wind up apparently - towards the end of page 3 -

    http://www.centralbank.ie/polstats/s...statistics.pdf

    Would be great if someone would explain this.
    Lorcan Roche Kelly and Owen Callan are dismissing IBRC liquidation although agree it would account for some.

    @LorcanRK
    I'm with @OwenCallan here. rise is too big/too gradual just to be IBRC
    Thomas Jefferson : Banking Establishments are More Dangerous to our Liberties than Standing Armies.

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