Profile for Mack
Latest posts from Mack (see all)
Mack has posted 207 times (0 in the last month).
Tweet Fintan O’Toole - The chance of six specific Irish horses winning at Cheltenham on the same day last week was 1.5 million to one. But it happened. Or.. The probability of the results of the Euro 2012 qualifiers being exactly as they will turn out to be is extremely low. But it will happen. [...] more »
Tweet Yves Smith has a thought provoking article on her Naked Capitalism blog that I’ve only just got around to reading. It includes a useful, if cyncial, analysis of the raison d’être of the current stress tests / banking investigation being undertaken by BlackRock. Earth to base, this is a garbage in, garbage out exercise [...] more »
Tweet Votomatic quizes you on a range of policy choices and then scores the parties for compatibility with your views. Give it a try My scores - FG 19, Lab 10, Greens 2, SF 1, FF -3 more »
Tweet Vincent Browne tracks the history of Ireland’s banking crisis in yesterday’s Sunday Business Post, ending with what must be the biggest understatement of the new millennium (see title). He argues that the EU will not countenance a restructuring / default of debts run up Ireland’s banks. But getting rid of some or all Of [...] more »
Tweet An RTE news story indicates that they have unconfirmed reports of 8 fatalities after a plane from Belfast crashed at Cork airport. Update - six confirmed fatalities, six people injured. From the report The Manx2 commuter flight, with 10 passengers and two crew, was en route from Belfast when it crashed in heavy fog [...] more »
Tweet It would appear that our Asian friends have confidence (and an interest) in the survival of the European project. Japan and China will help fund the European Financial Stability Fund that will be used to bailout European banks, sorry, I mean Ireland. With Japan pledging to buy 20% or more of the bonds that [...] more »
Tweet The new proposed European Stability Mechanism looks like it will come into force via a change to The Lisbon Treaty, and will avoid facing public vote by referendum. It provides a process for sharing losses with sovereign creditors in the case of national insolvency. (More details on that below). In yesterday’s FT, Lorenzo Bini [...] more »
Tweet I think this point is worth highlighting more clearly. Below – Simon Johnson ex-CEO of the IMF – on who is owed money by the Irish banks German banks are owed $139 billion, which is 4.2 percent of German G.D.P. British banks are owed $131 billion, or about 5 percent of Britain’s G.D.P. French [...] more »
Tweet The Guardian report that - the Portuguese prime minister José Sócrates insists Portugal is under no pressue from EU states to accept a euro bailout. Meanwhile After Financial Times Deutschland reported eurozone nations and the European Central Bank were urging Portugal to follow Ireland and capitulate to financial aid, the office of the Portuguese [...] more »
Tweet The Wall Street Journal are speculating that the size of the EFSF may double to almost €1trn, if German opposition can be overcome. This is an effort to assure markets that Europe can bail out Spain if neccessary. Doubling the EFSF’s capacity to €880 billion would remove any doubt about whether the facility has [...] more »
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