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Thread: Contagion hits Portugal as Ireland dithers on rescue

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    Contagion hits Portugal as Ireland dithers on rescue

    Contagion hits Portugal as Ireland dithers on rescue


    Contagion hits Portugal as Ireland dithers on rescue - Telegraph



    "The situation in the markets has been very negative due to the lack of a final decision by Ireland. It is up to Ireland to take that decision, and I hope it does," he said.
    The outburst reflected suspicion at the European Central Bank that Dublin is holding the eurozone to ransom, allowing the crisis to fester until it extracts a pledge from EU officials that it will not suffer a loss of economic sovereignty or be forced to give up its 12.5pc corporate tax rate under any deal


    Eireann go Brach!



    There is talk of a right wing swing in Eire, One that will look something like our Tea Party. This is Good for Ireland, it will be a hard road, but the right road.
    Let evil swiftly befall those who have wrongly condemned us

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    Re: Contagion hits Portugal as Ireland dithers on rescue

    Quote Originally Posted by ReverendHellh0und View Post
    Eireann go Brach!

    There is talk of a right wing swing in Eire, One that will look something like our Tea Party. This is Good for Ireland, it will be a hard road, but the right road.
    So the US right wing is talking about it.. does not mean it will even remotely happen.
    PeteEU

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    Last edited by The Prof; 11-16-10 at 10:39 PM.

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    Re: Contagion hits Portugal as Ireland dithers on rescue

    Portugal's budget deficit and public debt are higher than those reported by the government, which is trying to regain investor confidence amid a debt crisis, the leader the main opposition party said on Saturday.

    Pedro Passos Coelho told a meeting of his Social Democratic Party items like state-run companies' debts were not included in the overall public debt, which the government puts at 82 percent of gross domestic product this year.

    He said that the "true" total public debt stood as high as 112 percent of GDP, while the budget deficit should be at 9.5 percent of GDP, far above the minority Socialist government's target of 7.3 percent for the end of the year.
    Source: Reuters

    I wonder how long it will be before the eurocrats realize they are just replacing a sudden collapse with a slow-motion collapse.
    "For what is Evil but Good-tortured by its own hunger and thirst?"
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    Re: Contagion hits Portugal as Ireland dithers on rescue

    Quote Originally Posted by Demon of Light View Post
    Source: Reuters

    I wonder how long it will be before the eurocrats realize they are just replacing a sudden collapse with a slow-motion collapse.
    So now the anti-Euro crowd is changing the way you count national debt? Hope they apply the same changes to say the US economy... doubt it though.
    PeteEU

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    Re: Contagion hits Portugal as Ireland dithers on rescue

    Quote Originally Posted by PeteEU View Post
    So now the anti-Euro crowd is changing the way you count national debt? Hope they apply the same changes to say the US economy... doubt it though.
    Your economy sucks over there, and you know it. Stop the charade.
    "He who does not think himself worth saving from poverty and ignorance by his own efforts, will hardly be thought worth the efforts of anybody else." -- Frederick Douglass, Self-Made Men (1872)
    "Fly-over" country voted, and The Donald is now POTUS.

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    Re: Contagion hits Portugal as Ireland dithers on rescue

    Quote Originally Posted by PeteEU View Post
    So the US right wing is talking about it.. does not mean it will even remotely happen.
    Well, let's hope not!!!

    Fiscal responsibility and balanced budgets are just too much of a hardship for people.

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    Re: Contagion hits Portugal as Ireland dithers on rescue

    Quote Originally Posted by American View Post
    Your economy sucks over there, and you know it. Stop the charade.
    I see.. and yours is all roses and peachy right?
    PeteEU

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    Re: Contagion hits Portugal as Ireland dithers on rescue

    Quote Originally Posted by Grant View Post
    Well, let's hope not!!!

    Fiscal responsibility and balanced budgets are just too much of a hardship for people.
    Not really. Most European economies pre crisis were near balance or in surplus,.... something the US has not seen for decades. Heck Spain had surplus on its finances the last decade plus, even with 10% unemployment.

    And fiscal responsibility has never been a right wing thing, especially the Yankee version.
    PeteEU

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