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Ireland Economy - Page 2

Political chaos engulfs Ireland, threatens bailout (AP)
European Business News

AP - Political infighting engulfed Ireland on Tuesday, threatening to trigger a quick election and delay a massive EU-IMF bailout. Rebels from Prime Minister Brian Cowen's own party pressed to oust him and opposition leaders demanded an election before Christmas.
Source: Yahoo! News: Business - European Economy

Economy Ireland

LIVE: Four-year financial plan
Local Ireland News

The Dáil is in session ahead of the publication of the Government's four-year plan to reduce the national debt.
Source: RTÉ News

Ireland Economy History & Civil Business Politics

IRELAND: Troubled Irish govt unveils four-year austerity plan
Local French Business Updates

Irish Prime Minister Brian Cowen revealed on Wednesday a four-year austerity plan for Ireland that includes raising sales taxes, but keeping the current tax rate on business profits, as the government looks to save 15 billion euros by 2014.
Source: BUSINESS / TECH - latest business and tech news report, read news on business, technology, banking, industry, media and e-business

Page 2 Economy Ireland

Ireland's Brutal Four-Year Economic Plan is Announced
By Rory Fitzgerald

Market insiders have called the plan "staggeringly austere" and the proof of their scepticism lies in the fact that bond yields widened further still after the plan was announced. Ref. Source 8

Economy Ireland

EU agrees Irish bail-out deal

EU ministers agree an $85bn bail-out package to Ireland to "safeguard financial stability of the whole euro zone", EU officials say. Ref. BBC

Ireland Economy

Thousands protest against Irish bailout:

More than 100,000 people gather in Dublin to demonstrate against four-year austerity plan to reduce debts Ref. Source 5

Ireland Economy - Page 2

When you can easily get 110% financing for your overpriced new home, is this really a shock? The US really needs to take a good look at this plan for recovery because it is what is needed and the longer we wait...the worse it is going to have to be to right the ship. It is unacceptable that we still talking about budget deficits.

Government using housing to fuel economies is fine. Unregulated (and basic gambling schemes) lending to homeowners will have a cost at some point. When the property prices slide for more than 3-4 years, the scheme collapses. I am still very leary of propping up banks. I would almost rather let the banks fail if they arent strong enough and have the government assume the bad loans directly (since they are going to do it indirectly anyway) after the banks fail. However, I would still have the homeowners credit rating be leveled in the process. I am sure that is oversimplified which is why it isnt being done...but would make more sense to me.

A person gets tossed out of his house for getting a loan that they can now unfortunatley not pay (even if they remain employed) and they have their credit rating destroyed in the process. The bank that gave them that risky loan gets a bailout and basically no penalty even though they fully knew the risk but chose not to think about the long term in liu of short term gains.

Ireland Economy Politics Business Civil & History - Page 2

Important related Threads to understand what may be happening with the Irish Economy:

* Allied Irish Banks: Source 6
* US Federal Reserve: Source 3
* Is The Us Federal Reserve A Private Entity? Source 7