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Thread: The IMF in Action - Savage Cuts in Services, Fire Sale of Assets, Public Sector Wage Cuts Coming

  1. #61
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    Default Re: The IMF in Action - Savage Cuts in Services, Fire Sale of Assets, Public Sector Wage Cuts Coming

    Quote Originally Posted by C. Flower View Post

    How can selling off valuable assets be good financial planning ?
    It isn't.... but they don't care. They just want their money back, in as shortsighted a way as possible.

    Frankly, i think our glorious leaders need to hang on to at least one of the big energy suppliers, as a matter of urgency.

  2. #62
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    Default Re: The IMF in Action - Savage Cuts in Services, Fire Sale of Assets, Public Sector Wage Cuts Coming

    Quote Originally Posted by morticia View Post
    It isn't.... but they don't care. They just want their money back, in as shortsighted a way as possible.

    Frankly, i think our glorious leaders need to hang on to at least one of the big energy suppliers, as a matter of urgency.
    Nothing to do with "getting their money back" I don't think.

    It's a long-running ideological and political campaign to privatise public assets.

  3. #63
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    Default Re: The IMF in Action - Savage Cuts in Services, Fire Sale of Assets, Public Sector Wage Cuts Coming

    http://www.irishtimes.com/newspaper/...305454404.html


    THE INTERNATIONAL Monetary Fund has, for the first time,appointed a resident representative in Dublin to oversee its programme of support to Ireland.

    The European Commission, one of the IMF’s partners in the troika that funded Ireland’s bailout, has also assigned an official to Dublin.

    The IMF representative, Peter Breuer, is based in the Central Bank’s office on Dame Street, but is not on the staff of the bank or the Department of Finance.

    The EU representative, Nigel Nagarajan, is working out of the commission’s office in Dublin.


  4. #64
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    Default Re: The IMF in Action - Savage Cuts in Services, Fire Sale of Assets, Public Sector Wage Cuts Coming

    "Minister for Finance Michael Noonan insisted there was nothing unusual about the appointment of resident proconsuls representatives, which were a “normal feature” of colonisation support programmes."
    Thus all which you call Sin, Destruction—in brief, Evil—that is my true element.

  5. #65
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    Default Re: The IMF in Action - Savage Cuts in Services, Fire Sale of Assets, Public Sector Wage Cuts Coming

    Well, the IMF tries to ride to our rescue again; they've come out and said we should have the promissory notes written down, separate issue from the referendum. Instructions to the ECB and EFSF, which they will no doubt ignore. Reported on RTE 9 news

    Can we leave the EZ and join the Dollar???

  6. #66
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    Default Re: The IMF in Action - Savage Cuts in Services, Fire Sale of Assets, Public Sector Wage Cuts Coming

    sin é http://in.reuters.com/article/imf-le...-idINKCN0UY2UG

    The International Monetary Fund said on Wednesday it ended an exemption to its lending rules that had allowed it to make major loans to Greece, Ireland and Portugal in 2010 and 2011 to fight a growing euro-area sovereign debt crisis.

    Efforts to remove the "systemic exemption" were required by legislation passed by the U.S. Congress in December to implement sweeping reforms at the IMF that grant more voting power to emerging market countries including China and Brazil.

    The exemption was created by the IMF in 2010 to lend to countries whose ability to repay debt was in question, but where it was feared that a default would set off a systemic crisis.

    "The objective of this reform is to better calibrate IMF lending decisions to members' debt vulnerabilities, while avoiding unnecessary costs for the members, their creditors, and the overall system," IMF spokesman Gerry Rice said in a statement.

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