Discussion in 'Current Affairs, News and Analysis' started by fatboy69, Nov 24, 2010.

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  1. The drop in the minimum wage just shows how desperate they are. It goes against the Euro-grain but it seems the hole they are in is just too deep to avoid it. Much as I detest our press, I have some quiet admiration for that headline.
  2. Grumblegrunt

    Grumblegrunt LE Book Reviewer

    it looks like they are desperately trying to devalue in the only way they have outside of leaving the euro as they need the tax revenues, I guess we are going to have another huge influx of poles coming over from dublin again as the rest leave.
  3. We've already had an internal devalution of about 11/13%
  4. Grumblegrunt

    Grumblegrunt LE Book Reviewer

    how much more can you take though before it fails completely?

    the markets seem to relish the fact that they can do what they want and still make a profit, the state will pick up the tab for it in one way or another.
  5. The Poles are doing rather well in EU terms at the moment. Hopefully they'll take a lesson from Ireland's folly and control their younger runaway construction boom more wisely. Warsaw feels very like mid 90s Dublin these days.

    This government rushed eagerly into the Eurozone and instead of using its tax system to balance out all the cheap money produced by German style interest rates by hiking taxes to deflate the bubble they actually gave tax incentives for deranged property speculation hoping to make "the boom boomier" and "raise all boats". The ditzy market then lunged after these bad incentives like some crack whore only to catch itself on when Hank Paulsen pulled the plug on Lehman. Team Biffo then failed to accept reality, do the sensible thing and let their puffed up banker chums collapse down to a modest size, Anglo at least really was a no brainer. Now they are predicting 2.75% growth, the reality given this second raft of austerity measures is almost certainly a severe contraction as confidence hemorrhages and talent flees permanently.

    Leave the Eurozone and restore the Punt at this point? We might as well tie the currency to the Zim Dollar for the next few decades. Our beloved Septic venture capital that's made considerable investment in plant and property eager to have a toe in the huge open EU market is going to really love that.

    Powerful German banks are far from free of blame here, they basically run Brussels and will do all they can to ease their landing having punted a huge wad out on the Emerald Tiger, its clear they intend to use main street Ireland as a shock absorber, we'll see if that works out for them and us as its the probably future.

    Useless Gobshites is rather too kind. The Star had a headline today along the lines of: "First They Broke Ireland... Now They'll Break Berlin" if team Biffo is instrumental in taking down the Euro expect a run on the pound as well. Interesting times.
  6. Grumblegrunt

    Grumblegrunt LE Book Reviewer

    that cowan fella on the news - with his coached speaking style I cant help but think he reminds me of what a brown blair love child would be like!

    its time politicians learned that we've sussed out the sincere paused speech and wavey hands routine
  7. Looks like the Irish government are talking about, not only reducing the Minimum Wage by One Euro an hour, but also Public Sector pensions across the board by a percentage, even of those who have already retired. This will probably include a reduction in Irish State pensions for age pensioners as well.

    Let's just hope that Call-Me-Dave and Clegover of the coalition government doesn't have similar ideas for over here in the UK. Else it could affect all public sector, state pensions and retired armed service pensions as well. Even for those who are already retired. We will have to see what happens come the next Budget in April 2011.
  8. We don't call him BIFFO* for nothing.

    *Big Ignorant ****** From Offaly
  9. Quite a lot of truth there.