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 Post subject: "Ireland may call in IMF if Economy Worsens, RTE Reports"
PostPosted: Wed Jan 14, 2009 9:48 am 
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Real Estate Developer

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


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 Post subject: Re: *IRELAND MAY CALL IN IMF IF ECONOMY WORSENS, RTE REPORTS
PostPosted: Wed Jan 14, 2009 10:00 am 
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Euro dropped about a cent after those comments

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


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 Post subject: Re: *IRELAND MAY CALL IN IMF IF ECONOMY WORSENS, RTE REPORTS
PostPosted: Wed Jan 14, 2009 10:02 am 
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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.


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 Post subject: Re: *IRELAND MAY CALL IN IMF IF ECONOMY WORSENS, RTE REPORTS
PostPosted: Wed Jan 14, 2009 10:17 am 
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how much feckin' sake has he been drinking in Tokyo? :shock:

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This has been discussed at length elsewhere.

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 Post subject: Re: *IRELAND MAY CALL IN IMF IF ECONOMY WORSENS, RTE REPORTS
PostPosted: Wed Jan 14, 2009 10:21 am 
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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.


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 Post subject: Re: *IRELAND MAY CALL IN IMF IF ECONOMY WORSENS, RTE REPORTS
PostPosted: Wed Jan 14, 2009 10:22 am 
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His way of scaring the shite out of the public sector to accept the paycuts and redundancies coming.


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 Post subject: Re: *IRELAND MAY CALL IN IMF IF ECONOMY WORSENS, RTE REPORTS
PostPosted: Wed Jan 14, 2009 10:22 am 
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Posts: 543
Location: Ireland
This is all very silly. The government knows what action must be taken but seem to be politically unwilling to do so.


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 Post subject: Re: *IRELAND MAY CALL IN IMF IF ECONOMY WORSENS, RTE REPORTS
PostPosted: Wed Jan 14, 2009 10:22 am 
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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!

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 Post subject: Re: *IRELAND MAY CALL IN IMF IF ECONOMY WORSENS, RTE REPORTS
PostPosted: Wed Jan 14, 2009 10:22 am 
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Too Big to Fail

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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:

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 Post subject: Re: *IRELAND MAY CALL IN IMF IF ECONOMY WORSENS, RTE REPORTS
PostPosted: Wed Jan 14, 2009 10:23 am 
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Don't be talkin us down now Brian, you're starting to sound like one of those doom mongers :x

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 Post subject: Re: *IRELAND MAY CALL IN IMF IF ECONOMY WORSENS, RTE REPORTS
PostPosted: Wed Jan 14, 2009 10:24 am 
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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


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 Post subject: Re: *IRELAND MAY CALL IN IMF IF ECONOMY WORSENS, RTE REPORTS
PostPosted: Wed Jan 14, 2009 10:25 am 
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Real Estate Developer

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

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 Post subject: Re: *IRELAND MAY CALL IN IMF IF ECONOMY WORSENS, RTE REPORTS
PostPosted: Wed Jan 14, 2009 10:59 am 
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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.


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 Post subject: Re: *IRELAND MAY CALL IN IMF IF ECONOMY WORSENS, RTE REPORTS
PostPosted: Wed Jan 14, 2009 11:01 am 
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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
?


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 Post subject: Re: *IRELAND MAY CALL IN IMF IF ECONOMY WORSENS, RTE REPORTS
PostPosted: Wed Jan 14, 2009 11:15 am 
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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.


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