"Ireland may call in IMF if Economy Worsens, RTE Reports"

daveirl · **Joined:** Mar 15, 2007 **Posts:** 911 **Location:** Cork

*IRISH COMMENTS ON IMF MADE BY PRIME MINISTER COWEN, RTE SAYS
*IRELAND MAY CALL IN IMF IF ECONOMY WORSENS, RTE REPORTS

verbatim · **Joined:** Mar 4, 2007 **Posts:** 7852

Euro dropped about a cent after those comments

http://www.rte.ie/business/2009/0114/economy.html

verbatim · **Joined:** Mar 4, 2007 **Posts:** 7852

Quote:

Irish broadcaster RTE reports Irish PM Cowen as admitting that his government
may have to call in the IMF is the economic situation continues to worsen. This
admission alone is bound to impinge very negatively on Irish bonds in the
Eurozone RV basket at a time when valuations are already suffering on S&P's
threat to donwgrade Irish ratings from AAA. It can also have wider
implications, as it helps to build on the notional risk that the single currency
area may actually burst by the seams as disparities between core and periphery
increase to boiling point. This could weigh on the Euro.

El Stuntman · **Posted:** Wed Jan 14, 2009 10:17 am

how much feckin' sake has he been drinking in Tokyo? :shock:

verbatim · **Joined:** Mar 4, 2007 **Posts:** 7852

Surely this is just a threat to the unions?

The amount this comment will cost in extra interest payments on govt debt though... we could probably have employed a couple of public sector types with that money.

genki33 · **Posted:** Wed Jan 14, 2009 10:22 am

His way of scaring the shite out of the public sector to accept the paycuts and redundancies coming.

greentree · **Posted:** Wed Jan 14, 2009 10:22 am

This is all very silly. The government knows what action must be taken but seem to be politically unwilling to do so.

mikewest · **Joined:** Sep 26, 2008 **Posts:** 1337

Yet more evidence if needded that Cowen is a gobshite of the highest order. Hasn't he even got the common sense god gave an ameoba, you don't talk this kind of crap on the record ever as leader of the country.

Fool!

spqr64 · **Posted:** Wed Jan 14, 2009 10:22 am

Question? is he A/ telling the truth, or B/ Trying to prime the public sector unions for cuts or, C/ Both because the government have finally admitted they havent a feckin clue what they are doing. :roll:

xman · **Joined:** Sep 18, 2007 **Posts:** 4785

Don't be talkin us down now Brian, you're starting to sound like one of those doom mongers

blaker · **Joined:** Jun 29, 2007 **Posts:** 80

If you work on the basis that what politicians actually say in public tends to be quite a bit less dramatic than what is actually happening then I owuld suggest that we are quite a way towards this actually happening.

Unless hes preparing the ground for some heavy heavy slash and burn moves

room305 · **Joined:** May 24, 2008 **Posts:** 888

Quote:

Speaking in Japan Mr Cowen also warned that people had to 'get real' about the sharpness of the downturn.

Says the man still on his Christmas holidays and earning €300k plus expenses ...

http://www.rte.ie/news/2009/0114/cowenb.html

johnboy · **Joined:** Nov 9, 2006 **Posts:** 1339

spqr64 wrote:

Question? is he A/ telling the truth, or B/ Trying to prime the public sector unions for cuts or, C/ Both because the government have finally admitted they havent a feckin clue what they are doing. :roll:

A blend of all three I suspect. This has got to be an attempt to scare the PS into agreeing wage (and perhaps job) cuts.

Clowen can tell the unions that he would love to raise PS pay, but the bull-boy IMF is forcinghim to do the exact opposite.

Blindjustice BATONEFFECT · **Joined:** Nov 6, 2006 **Posts:** 4928

mikewest wrote:

Yet more evidence if needded that Cowen is a gobshite of the highest order. Hasn't he even got the common sense god gave an ameoba, you don't talk this kind of crap on the record ever as leader of the country.

Fool!

I think this is how Fianna Fail roll, its how they justify everything to themselves. They do what the people want.....populist party. People wanted to get rich quick on property they helped that!
If people dont want pay cuts FF will let it end up with the IMF
?

verbatim · **Joined:** Mar 4, 2007 **Posts:** 7852

Quote:

Ireland’s Cowen Made No Comment on IMF, Official Says

By Dara Doyle
Jan. 14 (Bloomberg) -- Ireland’s Prime Minister Brian Cowen
made no comments on calling in the International Monetary Fund,
according to a government official who declined to be
identified.
Dublin-based broadcaster RTE reported earlier that Cowen
warned that the IMF would have to be called in if the economy
worsened.

"Ireland may call in IMF if Economy Worsens, RTE Reports"

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