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Me respectable? LOL
Serious people won't consider funny money.
There is no concept of odious debt in popular debate. We're screwing the little people in negative equity for their debts even after their houses have been foreclosed. That "system" doesn't work if the State suddenly defaults...

At the moment the Irish economy is bouncing along the bottom with c. 0.7% growth, stable unemployment, significant emigration and some good news job announcements. Most small mall businesses and consumers are just about hanging in there. If there is a significant further downturn then all bets are off. Just now people are still clinging to the life rafts and a belief that we may still get out of this alive.

Index of Frank's Diaries

by Frank Schnittger (mail Frankschnittger at hot male dotty communists) on Fri May 4th, 2012 at 06:12:59 AM EST
[ Parent ]
Well, it is probably not too long before govt. policies at the behest of the Troika come to be seen as the smasher of life rafts.

"It is not necessary to have hope in order to persevere."
by ARGeezer (ARGeezer a in a circle eurotrib daught com) on Fri May 4th, 2012 at 09:33:13 AM EST
[ Parent ]
The deal with the Troika requires that a further incremental €3 Billion be taken out of the economy each year for the next few years. That will more than kill off any green shoots that might be trying to peep through...

Index of Frank's Diaries
by Frank Schnittger (mail Frankschnittger at hot male dotty communists) on Fri May 4th, 2012 at 09:51:09 AM EST
[ Parent ]

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