Tag: bailout
-
Veni, Vidi, Vitavi – Jean Claude Trichet and Ireland
The departure of Patrick honohan from the central bank caps a week where the Irish public saw the true reality of central bank independence.
-
A Fractal Omnishambles and the ECB
It’s little wonder that the Irish government has not pressed harder against the European central banks approach to the Irish banking crisis. The reality seems to be that both are very similar, in at least one key characteristic. Both seem unable to accept that a mistake, once made, should be acknowledged as such, and that…
-
8 reasons to be cautious about Ireland’s “clean exit” from the Bailout
This is an expanded version of a comment piece published in the Irish Examiner 15 November 2013. The decision of government to exit the bailout ‘clean’ is a curates egg. The good element, and it is an unalloyed good, is that this signals that the worst of the effects of the noughties credit binge on…
-
Delay will lead to a bailout : April 27 2009
After the “nationalisation needed” oped the then economic advisor to the Minister for Finance penned a rebuttal. This is the re-rebuttal, published in the Irish Times April 27 2009 DR ALAN Ahearne argues (April 24th) that nationalisation of the banks is inappropriate and perhaps dangerous. As a senior adviser to the Department of Finance, his views…
-
IBEC and IBRC and the IMF
This is a version of a column published in the Irish Examiner It must be dangerous to be a bird in Dublin these days. The government that promised transparency has instead adopted a kite-flying approach. The kites pop up, and like modern day Benjamin Franklins the government minister hangs on as it drifts into the…
-
Lazy stereotropes, lazy greeks
So. The problem it seems with greece is not its unsustainable 150% debt to GDP ratio, or the habit many of its wealthier citizens have of being creative with tax. No …. its that they are lazy olive botherers who simply dont work hard enough. That lazy stereotype, a trope of the crisis, comes round every while. The greeks…
-
Euro deal saves Ireland? Maybe…
It’s not clear that it does. I’m not sure it’s a seismic (Enda Kenny) or massive (Eamonn Gilmore) deal. And it happened because of Spanish and Italian pressure. So far as we can see at present there are three parts to this. The Spanish banks will be recapped directly from the EFSF and later the…
-
How much money will spain actually need?
As I write there are suggestions that spain will seek a banking only assistance of some €100b. Is that going to be enough? Look at the following graphs… Bear in mind a) Ireland is approx 1/8 the size of spain b) Ireland has to date spent €63b on its banking bailout. Spanish Private Sector growth…