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 Euro rocked, Cowen denies IMF Statement

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PostSubject: Re: Euro rocked, Cowen denies IMF Statement   Thu Jan 15, 2009 5:40 pm

P.ie thread on it. I think Kevin Doyle has a point - the IMF are themselves fecked

http://www.politics.ie/current-affairs/40234-imf-could-take-over-order-mass-dismissal-public-servants.html

Quote :
Get a Grip, the IMF will not 'take over' the running of the country. Mr Hennessy is indulging in a spot of scaremongering and using a bankrupt institution, which is on the verge of collapse itself, to do it.

PSUs are doing what they are mandated to do. That mandate will change. What will happen is that the Public sector will move to implement rapid cost saving measures, in addition to a mixed bag of moderate pay cuts and voluntary redundancies. Doyle's Post
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PostSubject: Re: Euro rocked, Cowen denies IMF Statement   Thu Jan 15, 2009 5:44 pm

Good observation, the IMF has relied very heavily on American money which is now gone and the countries which are cash rich, mainly also oil rich, aren't particularly interested in contributing to it - which you can understand. I think any Irish bailout is likely to be European based.
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