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FT - UK weighs billions in loans to Ireland
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A sure sign the taxpayer (probably German or British) is gonna get a sore bum:
WSJ - Hedgies Nosing Around Low-Ranked Irish Bank Debt
There is an inordinate amount of info on Irish banks and their tradable debt at the fool for the intrigued."The state is the great fiction by which everybody seeks to live at the expense of everybody else." -- Frederic Bastiat, 1848.0 -
Can someone please tell me, when there is this huge elephant in the Euro room, why it has gone up against the dollar and sterling today?Please stay safe in the sun and learn the A-E of melanoma: A = asymmetry, B = irregular borders, C= different colours, D= diameter, larger than 6mm, E = evolving, is your mole changing? Most moles are not cancerous, any doubts, please check next time you visit your GP.
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vivatifosi wrote: »Can someone please tell me, when there is this huge elephant in the Euro room, why it has gone up against the dollar and sterling today?
Because FX is subject to deus ex machina? Investing in FX is the most risky form of investing, because even if you are right the central banks can still wipe you out.“The ideas of debtor and creditor as to what constitutes a good time never coincide.”
― P.G. Wodehouse, Love Among the Chickens0 -
Kinda sorta confirmation of the bailout: Ireland bailout worth 'tens of billions' of euros, says central bank governorvivatifosi wrote: »Can someone please tell me, when there is this huge elephant in the Euro room, why it has gone up against the dollar and sterling today?
The Euro isn't being impacted as much by Ireland as it was by Greece. I'd suggest that's because after the Euro weakness back in May German exports got a huge boost, having weak peripheral members lowering the value of the currency is good news for German business which in-turn strengthens the Euro. Here's an FT vid on recent Euro movements (not paywalled)."The state is the great fiction by which everybody seeks to live at the expense of everybody else." -- Frederic Bastiat, 1848.0 -
vivatifosi wrote: »Can someone please tell me, when there is this huge elephant in the Euro room, why it has gone up against the dollar and sterling today?
Not all FX movements are down to speculation. It could have been that someone had a big purchase of Euro that had to go through yesterday, that people that had shorted the Euro were taking profits or it might just be a random, noisy movement.
Despite what they say at the end of the news, sometimes prices in markets change because they do.0 -
The way I see it there are 3 massive problems with what is happening.
1. If someone else will bail you out if you make bad decisions, why make good ones? Spend spend spend and someone else sorts it.
2. If the solvent keep taking on the debts of the insolvent then the solvent won't stay that way.
3. QE/printing money to fill a hole is all very good but if the hole is suddenly filled, the excess money may well spill out into the economy and cause a very sudden and rampant inflation.
FWIW I think I have a solution. I'll post it another time though.
You bloomin' tease!
Got me all excited, then left me hanging...;)It's getting harder & harder to keep the government in the manner to which they have become accustomed.0 -
If we do not give Irish Banks billions they will not be able to pay back RBS the billions they owe and that may adversly affect RBS staff bonuses... well probably not but you get the point. We are bailing out British banks again!0
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If we do not give Irish Banks billions they will not be able to pay back RBS the billions they owe and that may adversly affect RBS staff bonuses... well probably not but you get the point. We are bailing out British banks again!
I'd substitute the word 'British' with 'European (incl British)' but I agree with what you say.0 -
lemonjelly wrote: »You bloomin' tease!
Got me all excited, then left me hanging...;)
Generali's last theorum.0 -
i can see this situation becoming a real 'spack'--the Germans and french are looking to take control of the !!!304;rish with this loan via the upping of corporation tax. !!!304;t may be just another tax but its the symbolic loss of control of the future of the !!!304;rish economy for !!!304;rish politiciansmfw'11 No68- 55k mortgage İO--little to nothing saved! i must do better.0
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