Tag Archives: Ireland

  • Insider
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    Iceland – The Model the Bankers Would Like to Forget

    The one successful victor over the banks
    by Chris Martenson

    Friday, June 28, 2013, 6:27 AM

    9

    As the 2008 banking crisis unfolded, a lot of secret decisions were made that essentially boiled down to this: The bankers did not want to absorb the losses that resulted from their decisions.  The name of the game was who is going to eat the losses? And the early target, as always, was taxpayers.

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  • Blog
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    The Growing Pressures Likely to Blow the Eurozone Apart

    Look for Finland to exit first
    by Alasdair Macleod

    Wednesday, July 18, 2012, 5:18 AM

    2

    There was yet another European Union summit at the end of June, which (like all the others) was little more than bluff. Read the official communiqué and you will discover that there were some fine words and intentions, but not a lot actually happened. However, there are some differences when compared with past meetings that need explaining:

    1. The European Council is being asked to consider permitting the European Central Bank to have a regulatory role alongside national central banks “as a matter of urgency by the end of 2012.” When this new super-regulator is eventually established, perhaps the ECB might be able to recapitalize banks directly. This was needed three years ago; the Eurozone will be lucky not to have a new banking crisis in the next few months, let alone by the year-end.
    2. A bail-out for Spain’s banks is agreed in principle, but it is to be funded by the European Financial Stability Facility (EFSF) until the European Stability Mechanism (ESM) is up and running. The EFSF has no money and relies on drawing down funds from all member states including Greece, Spain, Italy, Ireland, and Portugal, and the chances of the ESM being ratified by the individual Eurozone parliaments is very slim. We are told that Spain’s banks need about €100bn, but how much they really need is not known.
    3. The ESM will not rank as a prior creditor to the disadvantage of bond holders. This is a positive step, but makes it more difficult for national parliaments to authorize the ESM.

    The big news in this is the implication the ECB will, in time, be able to stand behind the Eurozone banks because it will accept responsibility for them. This is probably why the markets rallied on the announcement, but it turned out to be another dead cat lacking the elastic potential energy necessary to bounce.

    e another dead cat lacking the elastic potential energy necessary to bounce.

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  • Blog

    Daily Digest 3/30 – The Cancerous U.S. Dollar, State Budgets Show More Cuts, Vacant Homes Reach Record Number

    by saxplayer00o1

    Wednesday, March 30, 2011, 2:40 PM

    0
    • The U.S. Dollar Has Cancer
    • Portugal to Revise Figures in 2010 Budget
    • Bloomberg: State Budget Means More NYC Cuts
    • U.S. Property Taxes Fall by Most Since Housing Market Crash
    • Vacant Homes In South Florida Nearly Double Over Past 10 Years
    • Nevada’s Boom Ends In Record Number Of Empty Homes
    • In Sacramento, Lots of Empty Homes
    • Brazil’s Lula to Portugal: Don’t Take Bailout
    • Japan Tax Increase Unavoidable After Quake-Given Debt Load, Lawmakers Say
    • Madera County Zeroes In On Fiscal Emergency
    • Ireland Draws Down Over 20% Of Bailout In Q1
    • Gas Prices Fuel Big Rise In Spending
    • Food Prices Rising, Few Items Immune

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  • Blog

    Daily Digest 2/3 – Analyst Warns of 2015 Bank Crisis, Beware Pyramid Schemes, World Food Prices at Record High

    by DailyDigest

    Thursday, February 3, 2011, 4:00 PM

    0
    • Iceland Shows Ireland Did ‘Wrong Things’ Saving Banks
    • Analyst Warns of 2015 Bank Crisis Amid ‘Upbeat’ Davos
    • Investor Beware – Pyramid Schemes
    • Real Estate Down
    • Interest On National Debt: ‘Skyrocketing’ Costs Ahead
    • ‪A Thriving Stock Market‬ (Video)
    • World Food Prices Hit Record High

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  • Blog

    Daily Digest 1/31 – New Era of Global Food Revolutions, Consumer Spending, Irish Central Bank Lowers Growth Forecast

    by DailyDigest

    Monday, January 31, 2011, 4:00 PM

    0
    • Egypt And Tunisia Usher In The New Era Of Global Food Revolutions
    • Mauldin: A Bubble in Complacency
    • What Happens Next: The US Consumer Sector Gets Crushed
    • The 5 Black Swans That Keep Dylan Grice Up At Night… And How To Hedge Against Them All
    • Consumer Spending in U.S. Rose More Than Estimated
    • Euro Rises Versus Dollar as Inflation Accelerates; Canadian Dollar Climbs
    • Irish Central Bank Lowers Growth Forecast for 2011

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  • Blog

    Daily Digest 1/24 – Ireland Government Crumbles, Silver is the New Gold, Heating Oil Rises on Cold Weather Forecast

    by DailyDigest

    Monday, January 24, 2011, 4:00 PM

    0
    • Ireland Government Crumbles As Green Party Pulls Out Of Ruling Coalition
    • Mauldin: The Unsustainable Meets the Irresistible
    • Conserving Doomed Systems (Or, Why We’re Staying On The Titanic)
    • Silver Is The New Gold
    • U.S. Jobs Outlook Rises to Decade High, Survey Says
    • Heating Oil Rises on Cold Weather Forecast for U.S. Northeast
    • Citi Warrant Sale On Tap for Treasury

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  • Blog

    Daily Digest 1/21 – States Look for Ways to Declare Bankruptcy, Irish Government Collapses, Mortgage Losses

    by DailyDigest

    Friday, January 21, 2011, 4:00 PM

    0
    • NYT Reports States Looking For Ways To File Bankruptcy
    • Irish Government Collapses, Six Cabinet Members Resign, Election March 11
    • The Meredith Whitney Effect In One Big, Beautiful Chart
    • Plans Being Drawn Up To Let States Declare Bankruptcy
    • Bank Of America Posts Billion-Dollar Loss Tied To Mortgages
    • Schlumberger 4Q Profit Rises 31% On Stronger Demand
    • U.S. Firms Seek To Pick Up Pace In China

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  • Blog

    Daily Digest 1/17 – Social Security Fraud, WikiLeaks gets Offshore Banking Secrets, Untapped Reserves for BP

    by DailyDigest

    Monday, January 17, 2011, 4:00 PM

    0
    • EMU Policies Are Pushing Southern Europe Into Systemic Political Crisis
    • Accelerating Deposit Flight In Ireland Forces Irish Central Bank To Print Money Independent Of ECB
    • The Fraud at the Heart of Social Security
    • Swiss Whistleblower Plans To Hand Over Offshore Banking Secrets To WikiLeaks
    • Airbus Tops Boeing on Orders, Deliveries Amid Recovery
    • More Strong Bank Results Desired by Investors
    • Rosneft Deal Brings BP Trove of Untapped Reserves

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  • Blog

    Daily Digest 12/20 – Iceland Offers Economic Lessons for Ireland, Retail Hit by Show Chaos, Gas Prices Quadruple in Iran

    by DailyDigest

    Monday, December 20, 2010, 4:00 PM

    0
    • Seoul Unveils Levy on Banks’ Foreign Debt
    • Iceland Offers Economic Lessons For Ireland
    • Shops Hit By Snow Chaos And Panic Buying
    • Success of Appliance Rebate Program Raises Questions about Environment, Economy
    • Emergency Unemployment Benefits Reauthorized
    • Cuts in Subsidies Quadruple Gas Prices in Iran
    • Will Shale Gas Turn Out To Be An Energy Sink?

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  • Blog

    Daily Digest 12/17 – EU Leaders Commit to Bail-Out, Ireland Economy May Grow in 2011, China: Anti-Inflation Measures Needed

    by DailyDigest

    Friday, December 17, 2010, 4:00 PM

    0
    • EU Leaders Commit To Bail-Out Fund
    • Mauldin: Unintended Consequences
    • Bankers Secretly Meeting to Control the World?!? Yawn…
    • Fake-Out Thursday – Oil Scam Continues Unabated
    • Ireland Economy May Grow 0.9% in 2011 as It Recovers From Crisis, IMF Says
    • China Leader Says Anti-Inflation Measures Needed
    • Brazil Stocks Open Lower As Euro Worries Overshadow Jobs Data

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