KingLeonidas: but noel after all the banter do you not agree that default is inevitable? be it right or wrong
It may well be the eventual outcome. The interest rate we are paying is penal, we got a bad deal, we can't afford it. Our outgoing government along with the EU and IMF screwed us over because out government was fighting our cause with no mandate and they were limping towards an election. Default may be what eventually happens but if we unilaterally default now we go down on our own and isolate only ourselves. However if we renegotiate the deal to more manageable levels, which is something that we as a country are strong enough and confident enough in ourselves to be able to do then we can work our way through this.
The only one getting personal is Noel. I'm trying to debate with him but he just wants to mock and taunt. If it's dirty he wants it's dirty he gets. It's not my fault if the man can't debate.
"...A vast majority of the traders to whom I spoke were in shock. They wanted to know why we had not defaulted. They understood the law of the jungle: if bankers lend to a high-risk client -- like Ireland -- they expect to pay the price; Ireland's Government have behaved like mugs. In short, they should have burned the bondholders. Instead, they capitulated to the demands of the big guns in Europe and threw the citizens to the wolves.
Joe Higgins, the principled socialist, is in agreement with the free marketeers.
Default was an option, but we bottled it. The traders were adamant: default would have been far better for the credit rating of the nation than the current endless doubts about the prospects for our solvency.
Our failure to default means that, instead, we are constantly being downgraded, ensuring that we cannot borrow in the global markets.
We are bankrupt. Let us default. Once we have settled with our creditors, we will rapidly rebuild confidence. Our credit rating will recover.
Foreign investors are already circling the bombed-out investments of Ireland, bottom-fishing for bargains. Some are even wondering whether to buy Irish debt. If we default, there is only one way for confidence -- up. "
"....If Iceland said no, it would send a clear signal to bankers that they couldn't always expect their governments to rescue them. And it would send a clear signal to investors that before they put money into a bank, they should make very sure that it's a safe, well-managed institution – because they shouldn't expect the government to bail them out if it goes bust...."
Forget economics, I'm going to give my vote to whoever will go ahead with the Thornton Hall new super prison, were going to need it the way this society is going!
snowlynx: Forget economics, I'm going to give my vote to whoever will go ahead with the Thornton Hall new super prison, were going to need it the way this society is going!
Forgive me,i havent read through all the posts...views on independants? im not sure what to think...pointless?i mean in the grand scheme of things?just made me think because an independant called round the doors and a few people i know said they were going to vote for him,but i really havent a clue.. im not going to pretend im educated much on politics...so would love to hear a knowledgable view..
sugar77: Forgive me,i havent read through all the posts...views on independants? im not sure what to think...pointless?i mean in the grand scheme of things?just made me think because an independant called round the doors and a few people i know said they were going to vote for him,but i really havent a clue.. im not going to pretend im educated much on politics...so would love to hear a knowledgable view..
I'd say there'll be load of independents elected, maybe 20 in total. What's your constituency?
snowlynx: Forget economics, I'm going to give my vote to whoever will go ahead with the Thornton Hall new super prison, were going to need it the way this society is going!
and I'm giving my vote to whoever will give up their pension!
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ya but your an intellectual giant