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Brian Cowen Resigns As Fianna Fail Head, Fine Gael Demands Vote Of No Confidence
The first casualty of the great Irish "pension funded banker bail out" is the man responsible, Brian Cowen, himself. The Taoiseach has stepped down as the Fianna Fáil party leader, but says he will continue to remain in office as Taoiseach. According to The Journal, "Speaking at a 2pm press conference, Cowen began his announcement in
Irish, saying he was proud to have been elected party leader in April
2008. He said at that time, he saw the role the party had in the
development and growth of the country, but now he believes Fianna Fáil’s
role in the public is in doubt. He said that he understood the membership of Fianna Fáil is concerned
about the party’s prospects on 11 March and he believes the focus
should be on the policies each party is offering." In other words: the Olli Rehn protectorate now is leaderless two months ahead of a key election that may well overturn the recent bailout of the country's senior debtholders. Which of course ties in rather well with our theory that in April and May there may well be an "unexpected event" to quote Fed's Plosser, which will serve as the springboard for the QE2+ extension. And since this year has been a complete rerun of 2010 so far, we expect the source of such market "contagion" to naturally be in Europe once again.
More from The Journal:
Speaking at a 2pm press conference, Cowen began his announcement in Irish, saying he was proud to have been elected party leader in April 2008.
He said at that time, he saw the role the party had in the development and growth of the country, but now he believes Fianna Fáil’s role in the public is in doubt.
He said that he understood the membership of Fianna Fáil is concerned about the party’s prospects on 11 March and he believes the focus should be on the policies each party is offering.
And shortly after this development, Fine Gael announced that it would demand a vote of no confidence in the fovernment unless FF were to dissolve the Dail, leaving the country leaderless.
Fine Gael will put forward a motion of no confidence in the Taoiseach on Tuesday if he does not seek the immediate dissolution of the Dáil, party leader Enda Kenny said today.
Mr Kenny was responding to Mr Cowen's decision today to step down as leader of Fianna Fáil but to remain as Taoiseach.
Mr Kenny said Mr Cowen’s attempt to lead the Government despite losing the confidence of his party was “another sad example of Fianna Fáil putting their own survival ahead of the country's survival”.
“It is also a complete contradiction of his stated position less than a week ago,” Mr Kenny said.
Labour leader Eamon Gilmore said public did not “greatly care” who was the Fianna Fáil leader and wanted a new government with a fresh mandate.
“It is simply not tenable for Mr Cowen to remain on as Taoiseach as his colleagues in Fianna Fáil squabble over the remnants of their party.”
As a reminder, here are the unredacted and unfiltered thoughts of an Irishman on recent events in his homeland:
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Offered a better job at JPM?
We need to start a rats jumping ship count, is that 4 this week alone?
God Love Him and Protect Them All! Irish! that is...
There is nothing more useless than a politician with no money to spend.
and for a quick refresher on our cousins across the ponds.. no the other ones, the drunk ones... yes the Irish... they will start fucking gunning cops, army and anyone else down in the fucking way that stops progress... i should live with them, people with balls.. Take note you fucking liberal tit sucking make love not war pussies.. You want shit done... pick up a gun, other than that you are a control of the system..
anyone who wants to discuss the finer points of the fact(s) above, bring it...
Works great! - Jared
Fianna Fail(ure) are down but not out. Only yesterday, the same day Brian Cowen attempted to swap out six cabinet ministers, his Finance Minister Brian Lenihan decided to delay the removal of incredibly generous property tax reliefs for all of Fianna Fail's developer friends.
http://www.irishtimes.com/newspaper/frontpage/2011/0122/1224288087735.ht...
Yes you read that right: Ireland is bankrupt nines ways to sunday, cutting its public services, taxing the lower paid to the hilt, but the tax reliefs for the richest people in the state—which were agreed to be cut in the budget—will be staying firmly in place.
That's the mentality of the Party that is running Ireland, and which has run it into the ground, and which has threatened the stability of an entire continent. It's not something I like to say, but the country would be a lot better off being run by the British. Too late now.
So, the flat headed paddies are as stupid as the English always said they were?
Who's more foolish, the fool or...
http://www.independent.ie/business/irish/uk-banks-exposed-for-230bn-on-l...
Heh. That is 250 aircraft carriers.
The stupid hurts.
Go fuck yourself rodent
Who owns Guiness now, Bitch?
Once again the Irish are about to be raped and pillaged. Remember Hugh Dubl O'Neill and Bobby Sands and stand up and fight! A cowards dies a thousand death but a brave man but one.
Rise Ireland! Default now!
The dodgy bastard should be hung by his bollocks in the middle of Temple Bar. His predecessor, BeBeBeBeBertie Ahern, should receive the same treatment, perhaps only by one bollock. Then the regulator. Then the President. They are the scum of the earth.
+1
I've just remembered that the President of Ireland is a woman and therefore would not be in possession of the aforementioned bollocks. There's no need to worry, the Irish people will work something out.
The incoming government will almost certainly be a Fine Gael/Labour centre-right/centre-left coalition. Probably this coalition will huff and puff about renegotiating the bondholder bailout, but will avoid any showdown with the ECB or the EU Commission (or the IMF, though the IMF is rumoured not to be thrilled about the package either). This will mean no unilateral haircuts for senior bondholders. Fine Gael's finance spokesman Michael Noonan, who was making promises of haircuts a while ago, is now promising to ask Europe very urgently for restructuring or grants.
Cowen should be swinging from a lamp post like Mussolini.
sure'n flights 'o DB leprechauns will guide his golden parachute to earth...
Who flagged this as junk? Come on out, Cowen-defender, let's hear your fascist excuses for the guy?
The Irish need to amend their constitution and declare a jubilee. Just like the UK and the US:
http://strikelawyer.wordpress.com/2011/01/15/amending-the-constitution-t...
http://strikelawyer.wordpress.com/2011/01/15/us-constitution-28th-amendm...
http://strikelawyer.wordpress.com/2011/01/15/28th-amendment-first-and-se...
http://strikelawyer.wordpress.com/2011/01/16/28th-amendment-section-3/
http://strikelawyer.wordpress.com/2011/01/17/28th-amendment-the-rest-exp...
http://strikelawyer.wordpress.com/2011/01/19/28th-amendment-an-addition-...
http://strikelawyer.wordpress.com/2011/01/20/28th-amendment-some-final-t...
This would accomplish the most necessary thing: a transfer from Wall Street (or its equivalent in Ireland/UK) back to Main Street.
Without it, we're doomed.
Maguire, you're fired. ;)
By the way, if you enjoy Irish bank-rage videos, then you may enjoy Pat Rabbitte (Labour) versus Pat Carey (Fianna Fáil) from last November (extended edition). And unlike the video above, it's not a staged performance (I won't swear that it's not a contrived performance).
If a Fail fails, what does a Gael do?
Seriously....
ORI
http://aadivaahan.wordpress.com/2011/01/21/accidental-lives/
Blows?
Why do the Irish even get to be a nation? They'd all fit inside any of a number of our metro areas. City state, maybe.
Who cares about the Irish?
God does you fucking heathen
God is on the side of those with the largest divisions. QED.
Ordinary citizens are the largest division.
9 billion bullets and their base is where the I divides.
http://www.lyricsmode.com/lyrics/i/information_society/where_the_i_divid...
Tell that to the Aztecs, Incas and the Mayans. 20 million versus 800 with primitive 15th century European weapons. God performs miracles at his time and place.
Apparently, God loves them.
Fuck the Irish. They keep fucking themselves, why not pile on?
Go fuck yourself rodent.
I'm having too much fun watching you do yourselves.
Let's see how much longer until things start going "boom" in the night over there.....AND it gets reported (there's the caveat).
Its kind of becoming obvious that the USA stock market is unfortunately on artificial life support, i.e. someone (s) is manipulating it to sustain Bernanke's " wealth" effect - the higher the stock values, the more affluent Americans will feel despite collapsing house prices, the more they will spend, the bigger the velocity of money , the spending restarts economy. Interestingly, banks are not part of this "spending boom" ( loans are not flowing) , they just recycle money via FED and prop up stock prices. I think they are doing the risky thing with people deposits they have, playing with stocks. Now they get state bonds to worry about. They might start playing with commodities, rather.
So I am looking for more and more tipping points as balance is becoming very hard to sustain, not in favor of FEDs efforts to get the cash away from consumers. Some of them:
1) China rationing new car numbers allowed to be registered in some biggest cities; Other forms non-market consumption control will follow.
2) Developing nations and some others around the world raising interest rates to curb inflation, constraining capital inflows
3) Food and fuel riots
4) Looming China interest rate increase next week and attempts to reduce liquidity and capital inflows, capital export
5) Eurozone balancing act: May be this one will become the important news:
Am I missing something important? Most likely. But something will tip the weights over very soon. Bank of America losses and statements about further foreclosure risks could not do it.
Ireland did not handle that well. They did not understand what was going on.
They could have gotten that bailout as a GRANT. Not a loan. The EU will do ANYTHING to prevent the swaps from exploding the commercial banks in Germany and France.
Ireland should have said, simply --
"If you want to prevent the swaps from triggering, you have the tools to do that. Give us the money and we'll pay off the bonds. Yes, that's right. The G Word. Give. Not lend. Give. We want to pursue the moral, capitalistism perspective here. You want something from us. We'll provide it for a price."
You see, the degree of austerity in Ireland from the "deal" is so destroying that they have nothing to lose by taking the hard line.
Precedent setting for other countries? Not Ireland's problem.
Let us ALL! Pray for our brothers and sisters in Ireland... Please God let them have the strength needed to carry out the Fuck the Banks Vote!
That guy in the video.
He is so out of context when compared to the few pedestrians that happen to intersect the camera angle.
Sheesh.
I love watching the videos of JB Yeats,always starts off mild and mellow and by the end is blowing a gasket,here are a few:
http://www.youtube.com/user/jbyeats#p/u/18/uWt86Xxi55Q
http://www.youtube.com/user/jbyeats#p/u/16/QDDAtufSI30
and this one called "Off with their testicles"!!!:
http://www.youtube.com/user/jbyeats#p/u/9/-WinN95YtwQ
L.O.L !! I just watched all 3 videos ! Who is this guy !? I love him.
I loved that clip the first time it was shown - it's lost none of its charm..!
DavidC
Default was the preview in Iceland, we all will follow, not just Ireland; for it is writtten in Ponzi logic that it must be so. If it is not goverments, states and municapalities, it will be individuals. It makes no difference, just time and credit default.