Largest Irish opposition party to vote AGAINST IMF/EU deal

Discussion in 'Wall St. News' started by ASusilovic, Dec 14, 2010.

  1. THE GOVERNMENT has criticised as “shallow” and “disingenuous” Fine Gael’s decision to vote against tomorrow’s Dáil motion on the Memorandum of Understanding with the European Union and the International Monetary Fund.

    Minister for Finance Brian Lenihan was one of a number of Ministers who said Fine Gael’s decision was politically motivated and had the potential to provoke a nervous reaction in international financial markets.

    Fine Gael countered last night by accusing Fianna Fáil of engaging in “political hypocrisy of the highest order” and describing tomorrow’s Dáil vote as a stunt.

    On Sunday, Fine Gael announced it would be opposing the vote on the basis that it was a bad deal, that Fine Gael could negotiate a better deal, and that Enda Kenny, because of his involvement with the European People’s Party (EPP), would have greater sway with the European Commission.
  2. thanks for that ASusilovic

    do you ever get any work done ? or are you a speed reader ?
  3. Tsing Tao

    Tsing Tao

    please educate me, because i do not get all of it. i thought the vote had already been decided with the two independents voting yes. how is this changing the game?
  4. No, that was the first 2011 budget vote... Subsequently, the Fianna Fail government decided to explicitly put the decision on whether to accept the IMF/EU package to a vote in parliament (even though they didn't have to). Both Labour and Fine Gael (the two main opposition parties who will probably be forming the next govt) have said that they will vote against the bailout.
  5. possible the euro become extinct.

    end of the euro experiment. exactly 20 years of the euro.

    the euro fails in exteme economic times..
    will the euro fail.

  6. That's been said of the euro for the last 20 years. Still waiting.

    The same has been said of the dollar for the last 40 years or so. Also still waiting.

    Ireland to Eurozone << California to US
  7. LeeD


    In financial terms Ireland is tiny. Califoria to US is the same as Spain to the Eurozone. The difference is California doesn't have its own banks to bail out... and Wall Street banks have already been bailed out at a great cost to savers in the form of inflation.
  8. LeeD


    Irish opposition parties reasonably believe that the whole loan package will not be necessary unless Irish banks start collapsing like a house of cards, which hasn't happen yet. Further, a loan comes with rather high interest which alone will be over 10% of Irish government spending and allows IMF to enforce political and financial conditions, which leads to partial loss of Irish independence.
  9. I understand the differences (never said they were the same, just trying to put things into perspective).

    IMV, the Irish (people) would be fools to accept the IMF - ahem - aid, but then again you have plenty of examples in many countries of the people acting and voting against their own interests.
  10. 'the Budget' has 2 or 3 more parts to be voted on which won't be
    completed until early in the new year
    #10     Dec 14, 2010