Tag Archives | euro

Greek referendum: a lose lose for Europe

I have always tried to avoid making predictions as unlike Mr. Ashdown, I have few hats and no desire to devour any of them. It does seem, however, as though the Greek population have rejected the terms of the latest bailout. The saga of the Greek Eurozone experiment and its travails seems to have gone more…

Ireland has missed a glorious chance on Greece

As the Greek tragedy rumbles on France has said it will keep up efforts to reach a deal. France has also maintained that the biggest critics of Greece are the other smaller countries. This brings Ireland into the spotlight. Has the government really been politically clever in how it has handled the Greek crisis? Ireland more…

CNBC: Ireland we hardly knew ye!

I know we like to think that our wee island packs a punch beyond its size, but any illusion that we are a household name kind of comes crashing down with one interview on one of America’s most respected financial networks CNBC. If you have not been following this story, the Chief Executive of the more…

Yes, Ireland can apply to the IMF for money, but…

If you want proof that SF dropped the ball on the anti case last week by putting partial quotes from Karl Whelan and two other eminent economists, it’s the fact that they have lent their own authority to an economist who is way off base from their own anti Fiscal Compact position. On Morning Ireland more…

Of Greece Germany and Porsches

I am no economist but I thought I would try this: The interlocking woes of the Eurozone seem endlessly complex. The wasteful Greeks, Italians etc. are all denounced as compared to the hard working Germans living within their means and now being forced to bail out the profligate southern Europeans. A classic example is presented more…

Greek PM to resign Update: Not going to resign

The BBC are reporting that the Greek Prime Minister George Papandreou is to offer his resignation to be replaced by a coalition government, led by former Greek central banker Lucas Papademos. It is unclear but seems likely that this will prevent the referendum on Greece accepting the latest deal on its debts. Fortunate that: Nicolas more…

Charges brought in Laois counterfeiting operation

It’s taken a while, but four men have finally been charged in connection with the sophisticated counterfeiting operation and underground bunker uncovered in a joint operation by Europol and gardaí in Ballybrophy, Borris-in-Ossory, County Laois, in May last year.  From the Irish Times report A former leading member of the Provisional IRA and prison escaper was one more…

The European view on insolvency

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 Smaghi, more…

Comment of the day…

We’re running in a few new commenting tools on Slugger, which we hope will help raise standards on the blog. But I also want (from time to time) mark out good content from the comments zone. So the reader’s comment of the day (so far) is from Laughing (Tory) Unionist on Mr Reckless’s Red C poll: more…

43% of Sinn Fein voters want to return to Sterling standard…

Mark Reckless is Tory MP for Rochester and Strood. He’s also the grandson of one Henry McDevitt, who briefly sat as a Fianna Fail TD for the now defunct Donegal East constituency. It seems Mr Reckless has taken it upon himself to commission a Red C poll on the question of whether the good folk more…

Counting the cost of bailout

As flagged up by Mack yesterday, the Irish Times reports that the EU/ECB/IMF team is examining how to force bondholders to share the burden with Irish taxpayers of the 15 billion euro deficit reduction plan. At present attention centres on two similar schemes. In the first, bank debt would be converted into equity shares. In more…

“It is the long term nature of this crisis that is just beginning to gain recognition.”

If there was any uncertainty about the markets’ reaction yesterday to Ireland’s bail-out, and to subsequent events, today’s plummeting Irish bank shares and more evidence of the fear of contagion in the markets should remove all doubt. The euro has hit a seven-week low against the dollar and global stock markets retreated today on fears that the Republic’s debt crisis more…

Irish Times: “For Ireland’s political class the prospect of another [EU] treaty referendum is nightmarish”

Whether the European Commission succeeds in introducing its proposed directly levied EU taxes, including a possible EU-wide value-added tax (VAT), in the face of opposition from a number of national governments, remains to be seen. But we’re still looking at interesting EU times ahead… In agreeing new sanctions for countries in breach of EU budgetary rules, France more…

“The weakest link? Maybe it’s best not to ask that too loudly.”

The Irish Times‘ Arthur Beesley has been asking some ‘stupid’ questions in Brussels about the Irish Government’s plan for the Anglo-Irish Bank and its dependence on Europe.  From the Irish Times Investor types who lend billions to Ireland want final figures for the Anglo wind-down; the Government can’t provide same yet, its credibility over the more…

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Euro Crisis : Soros on the Euro’s deficiencies and what needs to be done

Excellent George Soros essay on NyBooks – The Crisis & the Euro. In it he forensically examines the structural issues with the single currency, points out Germany’s critical role within the project and how they have been making bad policy decisions, and how this threatens political and social stability within the union. All is not more…