Article

2010-11-19 Economy

Cowen Scorned as Irish Mourn Loss of Sovereignty With Bailout

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Posted by tipper 2010-11-19 10:20|| || Front Page|| [2 views ] Top

#1 The Irish gave up their sovereignty when they voted to ratify the Lisbon Treaty.

Posted by DoDo 2010-11-19 10:57|| 2010-11-19 10:57|| Front Page Top

#2 Well, the party is over, and as you wake up with a monster hangover in a strange bed, you find that things look quite a bit different now than what they appeared to be last night.

Posted by Alaska Paul 2010-11-19 11:15|| 2010-11-19 11:15|| Front Page Top

#3 Mish Shedlock's comment:
Rat's Ass Perspective

The other countries in the EU do not give a rat's ass about Ireland. All they really cares about is $650 billion in loans on the books of UK, German, French, Italian, and Spanish banks.

The US is of course the third most interested party and will no doubt apply pressure on the IMF to apply pressure on Ireland to accept some sort of bailout.

Ireland is sitting on a pile of cash. That cash will last much longer if Ireland defaults and that I believe is just what Ireland should do.

The short answer is for Ireland to tell the EU and IMF to "Stuff It".

Every country for itself. There is simply no reason for Irish citizens to bailout UK, German, French, and US banks.

Meanwhile, back in the USA, US citizens continue to bailout US banks by devaluing the dollar and piling up the national debt.

Posted by Anguper Hupomosing9418 2010-11-19 15:44|| 2010-11-19 15:44|| Front Page Top

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