European Tribune - Comments - Let Them Eat Shitpile(TM)

Let Them Eat Shitpile(TM) | 54 comments (54 topical, 0 editorial, 0 hidden)

Yeah, but that's nothing compared with the Irish debt guarantee...

A vivid image of what should exist acts as a surrogate for reality. Pursuit of the image then prevents pursuit of the reality -- John K. Galbraith

by Migeru (migeru at eurotrib dot com) on Mon Oct 6th, 2008 at 08:45:26 AM EST
[ Parent ]

The Irish debt guarantee (none / 1)

is not credible IMHO. The gov't can't print the currency in question and faces other serious troubles.

Der Amerikaner ist die Orchidee unter den Menschen
Volker Pispers

by Martin (weiser.mensch(at)googlemail.com) on Mon Oct 6th, 2008 at 09:48:05 AM EST
[ Parent ]

Re: The Irish debt guarantee (none / 0)

I am sorry but I don't see any of these guaranties as credible. They just want to stop people from taking money from the banks but in case they really decide to take it...? I don't know if they can print money that fast? And we all know where this will lead. Hyperinflation!

by vbo on Mon Oct 6th, 2008 at 10:06:37 AM EST
[ Parent ]

Re: The Irish debt guarantee (none / 1)

The Danish guarantees are credible, because they only cover depositors, not interbank lending, and are capped somewhere in the fifth digit (in €). Even if the entire retail banking system falls apart (it won't... it probably won't), it won't be the depositor guarantees that break the Danish economy.

- Jake

If you only spend 20 minutes of the rest of your life on economics, go spend them here.

by JakeS (JangoSierra 'at' gmail 'dot' com) on Mon Oct 6th, 2008 at 05:03:09 PM EST
[ Parent ]

Re: The Irish debt guarantee (4.00 / 3)

Well, the Irish chose the worst possible option. Effectively they've signalled that the Irish banks are insolvent and that they're willing to have the state pay to save the management and shareholders.

A vivid image of what should exist acts as a surrogate for reality. Pursuit of the image then prevents pursuit of the reality -- John K. Galbraith

by Migeru (migeru at eurotrib dot com) on Mon Oct 6th, 2008 at 10:17:57 AM EST
[ Parent ]

Let Them Eat Shitpile(TM) | 54 comments (54 topical, 0 editorial, 0 hidden)

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