I like Dr. Wolfgang Schäuble

A

Ancutza

Registered User
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Bring it on Wolfie ya boy ya. Like you, Angie, Dave and Nick I just wish we could sink the Euro and all revert to our former currencies.

I propose you, Wolfie, to stick to your guns. We'll act revolted and have a referendum on the 'bail-out' after which the Euro will be sunk.

Rant over!
 
The logic of these folk baffle me at times.

They have crucified a small country by lending them money at a high interest rate, plus making them repay the risks that their own banks took.

Then they hold you to ransom over the corporation tax and will not give you anything at all unless you give it up, which will in turn lessen your chance to attract jobs, and hence recover, and hence be able to pay back your debts.

So they are insisting we do something which will maybe guarantee our default or help us to bring down the Euro.

I don't get it.
 
I think a default is pretty much nailed-on (or should be!). The big question is how many classrooms, ambulances etc. do we allow to vanish before we tell them to stick it?
 
I don't understand why Ireland doesn't do an Iceland and put two fingers up to their creditors?

Sure it would be 5 years of pain but it beats the slow 20 years it will take to recover form the current situation.
 
RMCF said:
Because they would take us to court, thats why;)

http://www.bbc.co.uk/news/business-13029210
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All rhetoric. And what happens when Iceland says we have no money to pay?

This is debt incurred by Icelandic banks, not by the Icelandic population. Hence it will be interesting to see which way any case goes. I doubt it will get that far.

I'm a Brit and would love to see a few billion come in to pay off our deficit. Can't see it somehow.

Countries have been going bust for centuries. This is what is meant to happen. Bond holders are meant to get a haircut on their debt when they lend money to countries that can't pay.

Ireland would be better off playing hard ball rather than commit to a deal that will take 20-30 years to pay off.
 
I am starting to see the case for some sort of default as Europe seems to be screwing us, and many reckon Ireland will have a structured default in a few years time with the agreement of others, but in the meantime if we played hardball and basically said we aren't paying how practically would a nation be able to pay its teachers, nurses, Gardai, GPs, civil servants etc etc.

If they were hit with big cuts of around 20% - 30% as Latvia suffered, how does someone who is just about managing to pay a big mortgage do it with 20% less coming into the house? Surely it would be sheer chaos with defaults left, right and centre?
 
Iceland have gone from a 5.5% interest rate to 3%-3.3% but not playing to the UK/Netherlands side over the past 2 years.

The UK/Netherlands know that they will at best get back part of the money owed by the Icelanding banks.

Ireland should do the same. The euro experiment is all in Germany's favour. If Ireland, Portugal, Greece and Spain pulled out it would cripple Germany's exporting machine as the new Euro would soar in value.

Time to become unpopular in Brussells and call Germany's bluff.
 
ringledman said:
iceland have gone from a 5.5% interest rate to 3%-3.3% but not playing to the uk/netherlands side over the past 2 years.

The uk/netherlands know that they will at best get back part of the money owed by the icelanding banks.

Ireland should do the same. The euro experiment is all in germany's favour. If ireland, portugal, greece and spain pulled out it would cripple germany's exporting machine as the new euro would soar in value.

Time to become unpopular in brussells and call germany's bluff.
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+1
 
I think we should go for an immediate referendum on the bail-out. There's no point sitting around on our hands waiting for the inevitable worst to happen. Let's do it.
 
RMCF said:
The logic of these folk baffle me at times.

They have crucified a small country by lending them money at a high interest rate, plus making them repay the risks that their own banks took.

Then they hold you to ransom over the corporation tax and will not give you anything at all unless you give it up, which will in turn lessen your chance to attract jobs, and hence recover, and hence be able to pay back your debts.

So they are insisting we do something which will maybe guarantee our default or help us to bring down the Euro.

I don't get it.
Click to expand...
I think you are living under the false assumption that politicians know even the most basic principles of economics.

ringledman said:
... a deal that will take 20-30 years to pay off.
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I think you are being a bit too optimistic there. This level of debt will not be paid off within a generation.
 
RMCF said:
The logic of these folk baffle me at times.
Click to expand...

+1
The stance of the French and German Finance ministers will make it virtually impossible for any furture European referendum to be passed in Ireland.

Also, where are the pro-nice treaty supporters such as Pat Cox. They promised us that taxation was purely a matter for each individual country. Yet, here we have the big boys trying to influence our corporate tax rate.
 
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