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

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

I can't see your goalposts any more, can you stop moving them?

Keynesianism is intellectually hard, as evidenced by the inability of many trained economists to get it - Paul Krugman

by Migeru (migeru at eurotrib dot com) on Sun Feb 6th, 2011 at 03:05:35 PM EST
[ Parent ]

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

What's Next, After the Slam?

Struggle NWO Unipolar or Multilateralism

City Agriculture - March 17, 2023

Shock Election Loss Rutte IV In Senate Race

Honduras Establishes Close Ties with China

A Return to Normalcy?

A Grand Slam for Ireland?

Recent Diaries

KS: Barrister, Judge, Prison Warden, Assassin

History Hillsdale College, Alumni and Domestic Terror

Struggle NWO Unipolar or Multilateralism

Neo-Nazi Marches Across Europe

Fascism Unites America, Israel and EU Neo-Nazis

What's Next, After the Slam?

Settler Extremism Blessed by Jerusalem Leaders

US Interference In Lebanon-Syria-Ira
q

City Agriculture - March 17, 2023

Shock Election Loss Rutte IV In Senate Race

Stalemate Endures, Pessimism Grows, Deaths Mount

Honduras Establishes Close Ties with China

A Grand Slam for Ireland?

Living In Spain and Social-Democracy

USA Censorship Act to Kill Disinformation

Flying Fortresses and Nuclear Threat

Universal Criticism Asylum Threshold EU Fortress

China Trade and Relations

SBU As a Terror Network

A Return to Normalcy?

Occasional Series