You're now on the archive server. Commenting has been disabled.
Goodbye Irish Sovereignty: EU Commissioner Olli Rehn Issues His First Directive As Overlord Of The Emerald Isle
Now that Ireland is a vassal state of the EU, and its democracy as its citizens know it, is finished, it was only a matter of time before the EU's Economic Affairs counsel started telling Ireland what and how to conduct its affairs. Sure enough, it took all of 24 hours between the "bailout" and the first order. RTE reports that Olli Rehn "says it would not be advisable for any new government to try to renegotiate key aspects of the IMF/EU deal." In other words, the EU is promptly realizing that the new Irish government is likely to reneg in part or all of the just struck deal and is therefore interjecting itself in the process. "In an interview with RTÉ News, Commissioner Rehn said it did not want to involve himself in democratic politics in Ireland, but he said: 'They are key parts of the programme so I would not advise re-opening these'." In other words, despite hating to do so, Rehn is now supreme dictator of Ireland, and the nation must do his every bidding if it wishes to not receive the Mutual Assured Destruction treatment and not get any banker Holiday greetings cards this year.
More from RTE:
He said he 'fully understood' the frustration and anger of the Irish people about the banking sector, which he said had made big mistakes in the past. 'However we have to move on and the essential thing is to complete the repair, implying both the restructuring and downsizing of the banking system,' he said.
Of course, only those moving on are the bankers who get no impairments whatsoever, while Irish taxpayers, now in perpetual servitude to the plutocrats, are forced to pray that potato famines do not make a sudden reappearance.
The one thing the corpulent bureaucrat is most opposed to is preserving the illusion that Irish pensions are for anything but pension funding:
On the use of the NTMA's cash buffer and the pension reserve fund, Mr Rehn said: 'These are part of the programme in terms of self-financing by Ireland. It increases the ownership and commitment of Ireland to the success of the programme, and it is also important for other EU member states because this package will have to be adopted in all the other euro area member states.'
Mr Rehn said he did not see any tensions or reservations in other member states approving the loan. 'I trust there is the same sense of responsibility and solidarity both for Ireland and Europe as a whole,' he stated.
As to why bankers once again get away scot free, here it is: Mutual Assured Destruction:
Mr Rehn denied there was any difference of opinion between the ECB, the European Commission and the IMF on whether or not senior bondholders should be 'burned' in the Irish banking sector.
He said senior debt would not be jeopardised, otherwise there could be the risk of further contagion in the system.
Of course, this is a lie as various states had expressly indicated an interest in senior impairments. But who cares. Fat politicians have to be bribed and fed. That's all that matters.
In the meantime, we present the Spanish 10 year. We wonder if Olli Rehn is already practicing his first speech as Viceroy of Katalunia.
h/t Mark Mansfield
»
- 10673 reads
- Printer-friendly version
- Send to friend
Dear Olli:
Don't exhale.
Regards,
The Irish
Hush!
The spirits are about to speak.
Time for Sinn Fein to put a price on this tinpot dictator's head.
Quite right! He has obviously never had to deal with Irish logic in the form of Sinn Fein. They will "murder" him. Certainly metaphorically but quite possibly literally...
In a war, it's not called "murder", it's simply "collateral damage", or maybe it's called "justice".
And per the common government line, it's oh so "unfortunate."
Hopefully him and anyone that might try to carry out his practices after he is dead.
http://www.youtube.com/watch?v=S5puAN1PGQw&playnext=1&list=PL91D4D20CE2FF079E&index=7
Maybe he senses his "job" is about to be cut along with the rest of "offi-shills"
3....2....1....
The Irish Territory of the Euro Bankers Union.
Edit: If the way to defeat and capture nations and its peoples is debt, how come the US is not financing a mud hut boom in Eastern Afghanistan? No goats down loans?
The Irish government should put it to a popular vote of the people.
It would be nice if the US put the fate of Goldman Sachs, Ben Bernanke and the banking cabal to a simial popular vote.
You would TRUST the same idjuts that just re-elected Maxine Waters, Barney Frank, Harry Reid & John McCain? Dementia has taken hold of you, Bartanist!
I really love this scene: (59 seconds)
http://espanol.video.yahoo.com/watch/4397309/11788984
It becomes more relevant daily. Was a good movie, too.
Most likely because the Afghanies would just laugh at you when you asked to be paid back. Like what are you going to do take over their country? I know you were joking.
I am confident the Irish will take this most recent development in good humor and stoic acceptance.
[5 minutes of insane laughter ends]
God I think I broke a rib here ... okay boys now go show 'em a bit of that Irish "good humor".
Actually, the Irish have a record of cheerfully accepting decades of failure and abuse from their governments. The EU could almost be trying to find out how far they can push it, though.
Can the Fine Gael blackmail the EU for better terms?
Fun fact: FG is an integral member of the Union's Christian Democrat bloc, as well as being Peter Sutherland's old crew. Don't set your hopes too high.
The battleground has been decided. It will start in Europe. As usual, the bankers secure their immediate territory, before moving to extend control over all economies. They have picked their first victim as a bully in the schoolyard, hoping all the others will fall into line. Extortion through economic violence. All criminals resort to the same tactics.
All bullies fall to the same defense- united fronts that take them down.
Sean, unfortunately, the united front needs cohesion.
Not available, except behind insane and inane things like football teams and national jingoism.
The proletariat is terribly divided and a hungry proletariat is easy to control.
Something needs to happen before winter sets in for real in Europe. Otherwise cold and hungry proletariat is even easier to subdue.
Light seems to be fading fast, heading to the winter solstice....
Bump!
ORI
http://aadivaahan.wordpress.com
I can only hope Ireland "does not go gentle into the good night". Nor should any of us.
Could not agree more.
ORI
...
...
There is only one Lord of the debt. Only one who can bend it to his will...and he does not share power!
As well, there is only One Lord of the Dance, and he doesn't share his form fitting leather pants, either.
Michael Flatley will lead the charge over the barricades.
I hope they elect the entire IRA leadership into office and the EU is given a new negotiating partner that plays by a different set of rules.
+1
Will the EU then realize their power is nothing beyond words?
The spell will be broken. Maybe by a single shot in the air...
+ 1
With the speed things are unraveling, there's gonna be two options left: 1)Kill the bankstaz with a groovy haircut (not gonna happen) or 2) ECB will start outright monetization bonanza (forget the lame sterilized actions we've seen so far) and kick the can a bit farther down the road.
At the end of the day, the wealthy, moneyed Plutocrats around the world will be in control of most of Europe.
And of course, Goldman Sachs and JP Morgan will be there at the ready.
Willing and able to finance the purchase of various assets in Spain, Portugal, etc. for virtually nothing.
Vast fortunes will be made by the clients of Bessemer Trust.
And Joe Six will be left to struggle once again in mediocrity.
At the end of the day...?
Left in control of what? Non productive welfare state populations? Good luck to the banksters making a profit from them!
BTW, 'at the end of the day' is the worst no-meaning vacuous saying ever, and whenever Im in a conversation with someone who says 'Well, at the end of the day' at every sentence I know for sure Im talking to an ass hat.
First time I heard "at the end of the day" I was sitting in grad school when the prof uttered those words. I thought to myself, he has lived his life in academia, what does he know of practicality? Since then, I have heard more and more use it. Perhaps the phrase allows an arrogant why of killing and opposing opinion?
"The long run is a misleading guide to current affairs. In the long run we are all dead. " ~ John Maynard Keynes
ZH
At the end of the day it is imperative that consensus building measures are implemented in order to further our mission critical processes thereby ensuring all deliverables are executed in a timely and competent fashion.
After cascasding this content to the proper silos, please circle back to me with a 30,000 foot view on how you and your team members plan to step up to the plate.
DEATH TO CORPORATE JACKASSES
Jesus, I have never heard it that deep before, and I consider myself well versed. My sympathy to you who must endure this corporate culture.
luckily my current place of employment does not engage in such stupidity.
You must be pretty good at playing Buzzword Bingo! :>D
At the end of the day - bitchez!
Fuck Olli and the rest of them!!
Commissioner Rehn said it did not want to involve himself in democratic politics in Ireland
Bullshit, thats why he advised against an election before loan details were worked out and passed. Its all about politics.
Probably because tyrants don't bother with democratic institutions.
all I can say is Wow! it's really happening.....
yep
Yes it is.
I would not want to work in an Irish bank building, let alone work for the bank itself, these days.
Dare we hope?
EURO ZONE DEFAULT Plan calls European Financial Stabilization Mechanism
As such, the euro has continued to fall, and risk premiums on Iberian, Italian and even Belgian government debt have continued to rise, as markets price in an increased chance that the euro zone's most indebted members will one day have to restructure their debt.
The crucial part of Sunday's declaration reads: "In the unexpected event that a country would appear to be insolvent, the Member State has to negotiate a comprehensive restructuring plan with its private-sector creditors, in line with IMF practices with a view to restoring debt sustainability. If debt sustainability can be reached through these measures, the [European Stabilization Mechanism] may provide liquidity assistance."
"This confirms the worst-case fears that default remains possible," said Lena Komileva, a senior economist at Tullett Prebon in London
Just headlines for now:
BLOOM: SPANISH CENT BANK SAYS IRISH WON'T BEAT US TO THE TABLE.
BLOOM: SPAIN ALL WTF IRELAND THOUGHT WE WERE BUDS.
'Spain all WTF Ireland'...lol
We're playing to the US teen/grunge/surfer crowd with that one. Nationalist subculture inside jokes FTW
They create more debt so that the banking system, which is involved in managing this debt, can become smaller. Maybe downsizing is a relative term, whereas the banking system in Ireland would be smaller than what the huge boom of further debt would dictate. Or maybe the banking system is going to be grow but the damage caused by it would be reduced by its growth. I've always enjoyed these doublespeak gems from the highest ranked government officials. I would put this one up there with Joe Biden's "spend more to avoid bankruptcy" self inquiring dialectic analysis from about a year ago.
These doublespeakisms remind me that these people are either really stupid or that they know excactly what they are doing. Either way it makes them a bit more predicatable, and that offers some solace in an otherwise maddenning market.
"Stricken Stracken Strucken all Sauerkraut Now!" OllieReeeehhhhhhnnnnnn!
Traitors to their people...
... but loyal to their masters.
The next major war in the world will be a civil war in the USA. After we finish that, we'll likely have to start building liberty ships to go rescue Paris again.
The only thing that makes me really nervous is that there don't seem to be any Wild Geese around anymore. We couldn't have one the first revolutionary war without them. Going to be touch and go this time if they don't show up.
No wild Geese anymore? ... hmmm, obviously you do not play golf in the Chicago area. It seems as if millions of Canadian Honkers have taken up permanent residence on the golf course and in the parks.
Wow, because of my great public edumincation I had to look up your reference to Wild Geese. I did not know that we had Irish Mercs to thank for helping us win the war. Thanks I learned something today.
the Wild Geese are a fascinating bunch. When Corwalis finally surrendered, the reason they did was that the French Navy had them blockaded and the Wild Geese had them Surrounded. The Wild Geese would have given anything to slaughter that British Army. I am sure they were mighty upset the Brits surrendered.
That can't be true. Cornwallis surrendered to The Patriot, Mel Gibson. /sarc. off
While PIIGS bonds crash, I guess the bulk of that cash is being "put to work" in high quality stocks such as Krispy Kreme...
Funny how money never leaves the market. The speculative locusts simply swarm over the poker tables that are seeing good action.
LOL...
"He is not a beautiful and unique snowflake..." but perhaps a Flake?
And so Ollie said: "Take my silver or take my lead" (attributed to Pablo Escobar) ... which would not be full metal jacketed or depleted uranium or whatever the ECB/IMF has their pet armies slaughtering innocents with these days.
There is not a shadow of a doubt that Ireland needs to keep the money, default and restart the Punt.
Maybe that will give Greece and the other vassal states the guts to kick the parasitic globalist plutocrats out.
Funny how the Greek Resistance gave the Krauts hell 60+ years ago and now they roll over like lap pigs (I like dogs too much to denigrate).
The funny thing is how open they were to 'you can't resign'. You have to sign the bailout, THEN you can resign. But you can't do it BEFORE you sign.
Ireland, someone stole yer lucky charms. I say search this fascist. Olli (north) Rehn.
The new dark overlords are trying to appear, where's Howard the duck?
Of course, Ireland when compared to the basket case that is Spain is really who Olli the trolly will need to run over the people.
I just love the 'we don't want to set policy or interfere lines' they give, and then they basically tell you the slit the throat option is the only one.
Simply Amazing they expect to get away with it. People need to realize 1.3 billion starving people aren't causing this. This is making 1.3 billion people starve. Of course, the western world is now the buffet for the banksters like Olli the fascist polli.
"However, in a surprise accounting move, European and IMF experts decided that Ireland first must run down its own cash stockpile and deploy its previously off-limits pension reserves in the bailout. Until now Irish and EU law had made it illegal for Ireland to use its pension fund to cover current expenditures. This move means Ireland will contribute euro17.5 billion to its own salvation.
http://news.yahoo.com/s/ap/20101128/ap_on_bi_ge/eu_europe_financial_crisis
first hungary, now ireland... naw, cant happen here.
401k money will be rolled into Social Security. Only a matter of time.
Nationalization of private pension funds (including 401k's and IRA's) are NOT in the best interest of the banksters who demand the contination of their mangement and brokerage fees. So, it will not happen.
They don't need to nationalize it entirely, they'll just lock them so that they can use the funds, and then "guarantee" you'll be repaid.
What is in the interest of the banksters is not something you want to bet the farm on.... there is a big difference between being able to tell the driver where to go, and having your own two hands on the wheel. The fat bastard riding in back tends to forget this, but the driver never does.
There is a reason why the first king was a lucky soldier and not a lucky banker.
Easy fix. The banksters will get to "manage" the new "national retirement account fund" as they see fit with the SSA as the customer vs. 100 million customers. They will make contributions from employees/employers mandatory and the banksters will get to fractionalize the newly acquired assets.
Check out Mish: Ireland must liquidate its pensions to pay bankers before getting the "benefits" of the bailout:
http://globaleconomicanalysis.blogspot.com/2010/11/terms-of-enslavement-irish-citizens-say.html
Of course, such things were *illegal* before. However, it looks like that's the best way for the IMF to milk every last drop from the Irish -- who will come begging once they literally have *nothing*.
First thing you do with a new slave is take away all their personal property so they understand they no longer own anything, but rather are owned.
It's only after we've lost everything that we're free to do anything.
Guillotine
Team Obama and the EuroClaque are talking belt tightening, grimly austere denial now that the banksters have been bailed. They must feel that most of the bad news is already out. But when each Euro country and Wall Street need a new round of bailouts in a few months, they'll quote Rehn: "However we have to move on"
'These are part of the programme in terms of self-financing by Ireland. It increases the ownership and commitment of Ireland to the success of the programme, and it is also important for other EU member states because this package will have to be adopted in all the other euro area member states'
so all state pension funds are fair game?
they have institutionalized plunder in broad daylight - unbelievable
Bravo, Kent!
I've read through the comments to here, and you are the first respondent to get the significant soundbite in Rehn's statement. They have no shame - they just put their intention right out there, up front and foursquare.
Thieves. Used to be hanged from Gibbets. On poles.
When is Bono going to step up to the plate? I think this theft, in his country's face, is more topical than African orphans. Or maybe he is now part of the oligarchy?
Olli Ilmari Rehn ( pronunciation (help·info)) (born 31 March 1962) is a Finnish politician, currently serving as European Commissioner for Economic and Financial Affairs.[1] He had previously served as Commissioner for (dick)Enlargement. He has held a variety of political positions in European institutions as well as in Finland.
http://en.wikipedia.org/wiki/Olli_Rehn
olli the emperor of ireland
edit typo
I proofread your posting many times and could not find any said typos. I encourage anyone else to read and attempt to find anything incorrect with it.
zeig heil, Oberlieutenant Rehn...
what are the odds that the EU flag will be replaced with the totenkopf?
On a long enough timeline ...
The plutocrats never did entirely get over that episode, might need another run just to make sure it really was a bad idea.
Poor.
Except for some of the goofs at the top, the SS were actually pretty brutal and tough, especially the Todtenkopf Division. Old Teddy Eicke was a thug, but he did die in combat. I'm pretty sure they would have their way with these pin-striped, narrow tie wearing pieces-of-euro shit bankstas.
..and what precisely, can commissoner Rohn do about it?
In the original article, "reneg" should be "renege" (or "renegotiate"?)
"It is a forgone conclusion that people who hold wealth and power, intoxicated with the
privilege it affords them, will never relinquish or share it willingly with the masses
surrounding them even though not to do so inevitably endangers their status and the
sources from which their wealth is derived. Violence is not an implicit
component of revolution necessarily, but it becomes necessary when corrupt leaders and
governments remain intransigent and incorrigible."
bankers and the politicians they control gotta die...its just that simple
not a good sign
Wow! Speechless.... especially with this news of draining Irish Pension Funds first.
As much as a small part of you thinks, no one can be so totally heartless, that a bankster comes by and shows you a new low in human empathy.
Such a sign too of collectively numbed and dumbed and generally scared and confused and fragmented people are.
Ripe pickings.
ORI
http://aadivaahan.wordpress.com
KESS formula.
Keep em' stupid, stupid.
Hey Cossack, is that like the KESS of DEBT?
Good one.
ORI
Banksta Formula 101
1) Wait until everyone is fat, lazy, weak, and on happy pills (check)
2) Allow the seeple to finance a bunch of assets they cannot afford with money the banksters created out of thin air (check)
3) Wait until the SHTF, use CongressCritters/ParliamentPigs to shift bankster debt to soverign debt, and repossess all the assets that were financed with money the banksters created out of thin air (check)
4) Enslave the sheeple to pay off the soverign debt (check)
Don't be afraid of the Ollipants!
Re-form the line! Re-form the line!
BRING THEM DOWN!
Chaaaarrrrrrrggggeeee!
(deepest apologies to Tolkien)
Max Keiser:
More than 100,000 protest against Irish bailout
banco de Espana
reform of the banking system
http://www.bde.es/webbde/es/secciones/prensa/intervenpub/subgoberna/sub2...
"the stress tests showed that spanish banks as a whole were sound, despite taking into
consideration very extreme and highly unlikely scenarios"
http://www.bde.es/webbde/es/secciones/prensa/intervenpub/subgoberna/sub2...
love the way you lie eminem featuring rihanna
Ireland has to figure that eventually someone is going to make the banks take a haircut and it might as well be them.
I'll bet the other PIIGS would like Ireland to do it so they would have a template to follow as opposed to the Greek and (hopefully temporary) Irish hosing.
I also don't think that anybody can predict what will happen ( It should be very ugly) but I know for sure that the world will not come to an end
Riddle me this:
These were prepackaged bonds sold by Canadian Banks (2007):
Dec. 21 (Bloomberg) -- Canadian investors holding $33 billion in short-term debt that plunged in value will have to rely on commercial banks for support after Prime Minister Stephen Harper said he won't bail them out.
``If the government became the day-to-day underwriter of market risk in commercial securities markets, that's a bottomless pit,'' Harper said in an interview in Ottawa. A government rescue wouldn't be ``healthy for the long-term growth of the Canadian economy.''
Harper's refusal to shore up the market for asset-backed commercial paper -- 30- to 90-day securities backed by car loans, credit card debts and mortgages -- leaves holders at the mercy of the country's biggest banks. Some banks have already expressed reluctance to provide support and are resisting pressure from the central bank.
``If the Canadian chartered banks don't go along with what they are apparently being promoted to do by the Bank of Canada, then what? Then we have a potential financial and economic problem,'' said Dale Orr, managing director of Canadian research in Toronto for Global Insight, a Lexington, Massachusetts-based economic forecasting firm.
http://www.bloomberg.com/apps/news?pid=newsarchive&sid=a9lpYUicPdgc&refe...
33 Billion is quite a bit of money and the world did not end. Canada did not become a pariah. That was pretty much the last time I heard of Bond problems in Canada as well.
I'm not an expert in this stuff...maybe this is not comparable to the Irish problems?
Ya...that Canadian ABCP stuff - basically they said 'don't worry about it' to the pensions and other heavily regulated funds (they were, after all, investing in AAA paper).
Desjardins (one of the largest buyers of this feces) was speculated to have got a secret bailout from the QC gov, though i don't believe any of this was made public to the media. I only know this because i have a friend who works at Securites Desjardins in their structured products (well, the French equivalent @ SFL) group.
I predict high level assassinations carried out by a resurgent IRA, followed by marshal law, more terrorism & more suffering by the Irish people that don't have the wherewithal to get out of the country.
more freedom fighting... there, fixed it.
This is not a done deal yet. Irish parliament, say NO on December 7th!
Wow, more silken diplomacy. The context to this is that Fine Gael (one of the two large opposition parties) was waffling yesterday evening about renegotiating the bailout once in office. Now, this was probably empty talk. FG, of all political parties, is not likely to have the stomach to get seriously rough with the EU (these are Peter Sutherland's political homeboys). All Rehn had to do was smile to himself then wait for the imminent FG/Labour government to quietly backtrack on their earlier shape-throwing. Instead he had to come out and not just yank Ireland's chain, but publicly chastise the party which is probably making life easier for him by pretending they can reopen the EFSF deal after allowing it to be approved.
Keep talking, Olli. The budget vote is on 7 December, and while it will probably pass, the government's majority is slim enough that there's some small chance it won't. If things get hairy the government will have to rely on FG telling members to abstain. Go on and raise your profile some more.
the banksters did what england could never accomplish. it has subdued the island without firing a shot. if i were the irish i would find every bankster on the island and hang him/her/it on public tv. then i would tell rehn to go fuck himself.
Olli Rehn is a lying bastard and part of the banking syndicate now running Europe.
Congrats Ireland!
Or... BUY SILVER AND CRASH THE MOTHER------- BANKING BASTARDS
OK, here's that question again. Who knows Rehn's home address, what kind of car he drives, and his route to work? Somebody here has to know - so post the info already. Let's make it easy for at least a few Irishmen to locate him and ask him politely to please stop fucking their country.
Im sure the IRA is working out all the details.
It is pointless to resist.
You, Ireland, like your friend Greece, are now mine...
that's not true!! that's....improbable!!
resistance is futile
http://www.youtube.com/watch?v=AyenRCJ_4Ww
And all your base are belong to us
http://www.youtube.com/watch?v=8fvTxv46ano
Nobody saw that little nugget about the pensions in the rest of europe? This assclown says right there that all the other nations are going to have to do the same thing.
ANY asset your State has in its possession will be handed over to the bankers IN EXCHANGE for their fictitious capital. And the roads, bridges, power plants, everything.
Just like Argentina. The bankers are earning a vig on the money in your pocket.
yep, don't cry for me : the bankers:)
Trav-Coming to the U.S. if (when?) they gain their way (not in lame duck near-term at least).
http://money.usnews.com/money/blogs/capital-commerce/2008/10/23/would-ob...
Here's the cwm's cv:
http://www.newschool.edu/scepa/Ghilarducci_longCV_2009.pdf
- Ned
I say, say FUCK YOU to the EU/IMF. What are they gonna do? Kill all Irish citizens?
If that is required, then yes they will do just that.
BWAHAHAHAHAHAHAHAHAHA!!!!!! (gasping for air)
BWAHAHAHAHAHAHAHAHAHA!!!!!!
Seriously, what odds do you want to give me on the enforced imposition of the Irish bailout? I'll gladly back the Irish revolt against the EU and even suggest people stay out of banks, EU government buildings and far away from any place where 2 or more EU bureaucrats decide to meet.
(There are 2 sides to every trade and money to be made from the "breakup" of the EU so there will be no shortage of "financing" avaiable from some of the bankers)
barliman
Good to see you back Gordon!
Maybe it would be a good occasion for Catalunya to declare independence from Spain AND from Europe and issue its own currency? Could call it "Quartos" or "Peles" xD
They won't go through with this austerity plan in Ireland, they just won't. What he really meant to say was that the contagion of the system would hurt the big countries like France and England and Germany. Because it was their banks who loaned money to these other countries banks including Eastern european countries.