Irish Govt raises four-year austerity target to €15bn

[gaelic cowboy]

I believe the Irish are made to suffer because of greedy Irishmen! You can't keep passing it of to a segment of the population you don't like. Europe has tried to pass off their own greed to "Jewish" bankers for hundreds of years.

I'm not passing it off thats for sure I have pointed out the solution, I am merely waiting for everyone else to arrive to where I am.

Still waiting 2 yrs in though hurry up.

[Vladimir]

I'm not passing it off thats for sure I have pointed out the solution, I am merely waiting for everyone else to arrive to where I am.

Still waiting 2 yrs in though hurry up.

That was more in response to Louis. I'm assuming he's in character but I may be in one of those moods.

[Fragony]

yay euro is at 1.32 dollar. Rasoforus, Ronin, Banquo, I want to have a word with YOU how could you do this to me.

Any Spanish and Italians here? And for the hispanics your essays don't impress me.

[gaelic cowboy]

yay euro is at 1.32 dollar. Rasoforus, Ronin, Banquo, I want to have a word with YOU how could you do this to me.

Any Spanish and Italians here? And for the hispanics your essays don't impress me.

It's at 1.32 because no one wants to admit in the EU that Spain cannot be bailed out Fragony. The EU is trying to prevent it by bailouts instead of grasping a big stinging nettle.

[Banquo's Ghost]

yay euro is at 1.32 dollar. Rasoforus, Ronin, Banquo, I want to have a word with YOU how could you do this to me.

Don't blame me. I never dabbled in the property market.

I make all my money by following the fine example of our French overlords and bleeding the Netherlands dry for agricultural subsidies.

[Furunculus]

i am sat on the train returning from five days of work in nuremburg, so i just want to take the opportunity to thank our economically incompetent brusselsels overlords for driving their currency into the ground just in time for my xmas shopping.

p.s. taking an ice train along the rhine is awesome, millions of castles!

[gaelic cowboy]

That was more in response to Louis. I'm assuming he's in character but I may be in one of those moods.

I know you were but the problem is when I'm posting and talking about Bankersters and Bondholders etc it can seem a bit like I am trying to pass the buck (as if we had any left)

I was annoyed at Angela Merkel for saying what I have been saying all along which may seem strange, but basically the problem is not what she said or when it was the fact it merely eneded up being the death blow for our banks. ( the statements were meant to give indication of sorting the crisis they merely made it worse)

The major problem is one of an inability on the part of many of the major actors in this crisis of private capital to see that they should just reorganise the banks. If the banks were taken to task and we merely stiffed the lenders who stupidly gave money to our greedy banks to lend to idiots here we might already be out of recession.

Our government has already taken 14 billion out of public expenditure and still there accused by the "Markets" of not doing enough it is a boggle indeed. Take the repudiation on the bondmarkets for a few months who cares we had/have the money, we cut a few benefits and costs and give bondholder 10-20% of there value telling em to off. Why should they get off with a free lunch they were just as foolish as the people who bought expensive houses here, the reason is as I said the ECB is not acting like a real central bank instead it is acting like a political institution.

some points that must be answered

1 Why is the ECB not trying to reorganise the banks debt and to extend credit to Irish and other PIIGS banks in order to do so.

2 Why must the solution for each one of the PIIGS be the same in the end yet the problems in each are different.

3 Why is the solution even more debt.

4 Why is the IMF at loggerheads with the EU over sorting the bank debt in Ireland.

I imagine all the answers eventually come back to the same problem the Eurozone political class as a whole has trapped themselves in an ideological cul de sac.

[Ronin]

some points that must be answered

another one is why the ECB is lending money to the banks at 1% interest, that then turn around and lend to the countries at 6, 7% etc.
why can´t the ECB just lend to the countries directly????