Irish pushback strategy - we get mail | 305 comments (305 topical, editorial, 0 hidden)

Re: I've read your entire contribution (none / 0)

But you are moving the goalposts. You are taking total exposure as if it is exposure to government debt. It isn't. The second number is smaller, probably much smaller. I never claimed there is no exposure at all. I just deny that all irish debt is public debt - private debt is rather larger and that all Irish debt is to german banks; the exposure to british banks alone is larger.

Also, most of this is Depfa/HRE anyway and this bank is already nationalised.

by IM on Sun Feb 6th, 2011 at 04:02:45 PM EST
[ Parent ]

Re: I've read your entire contribution (4.00 / 2)

Also, most of this is Depfa/HRE anyway and this bank is already nationalised.

The fact that the German government has taken leave of its senses and bailed out German banks does not mean that Ireland has to compound the mistake by bailing out the German government. If the German government wants a bailout, the proper place to argue that is at the ECB, which controls the printing presses. The printing press is where governments go to get bailouts in normally functioning fiat monetary systems.

- Jake

Friends come and go. Enemies accumulate.

by JakeS (JangoSierra 'at' gmail 'dot' com) on Sun Feb 6th, 2011 at 06:43:07 PM EST
[ Parent ]

Irish pushback strategy - we get mail | 305 comments (305 topical, 0 editorial, 0 hidden)

Top Diaries

Annual Update of Global Climate Change Indicators

City Agriculture - June 22, 2025

Remembering Nancy Jack Todd, Sustainabiity Pioneer

Recent Diaries

City Agriculture - June 22, 2025

Fascist Rhetoric Going to War

Trump Declares War on Iran

Prayer for Conversion of Jews

Peacemaker Minerals Deal w Katanga

End Of The World - Flashpoint Zion

A Hot Summer Thread

Annual Update of Global Climate Change Indicators

IAEA Clarifies: No Proof Iran Is Building a. Nuclear Weapon

Legacy of the Biden-Trump Years -- Zionist Terror

Israel's War Causes a Bust-up @G7 Summit

Israel Will Confront Russia and China

World's Last Phase Before Going Nuclear

22 Years' Desire to Bomb the Ayatollahs

The U.S. Tyrant Nothing But A Scam

US Prepares Hitting Iran Full Force

Same Actors, Same War: An Attack On BRICS

Fascist Rhetoric: The Curse or the Blessing

Paranoia, Trump's Civil War On America

Israel Lobby Nuke Iran As Early As 2013

Occasional Series