This page has been archived and commenting is disabled.
Watch The European Union Press Conference Over Ireland (And Other Things) Live
This is so deja vu of the EU press conference when the Greek bailout was announced on Sunday, May 9. Although this time there is no silver lining, as no deal has been reached. Anyway, here is the link for the EU press conference which so far is agenda-less so anything could be announced... or nothing.
»
- 13917 reads
- Printer-friendly version
- Send to friend
- advertisements -
Cubs just pulled the request for (300 million/bonds) for park renovations ..... Plan was killed in under a week. No tax payer funds for you.
Market rallying into the close. Are they getting any whispers from Europe?
I didnt see any 'rally'.
Euro still below 35.
God damn it its in french!
Blimey!!
You can select english in lower left box
I did =/ its still in french
Select the language and then reload.
You can pick "English" in the Language selector below the video....but you can already guess what is happening...prolonging the inevitable
So no request yet. 'We would welcome any request' and then quickly talk about Portugal and laud their 'unclear' reform attempts.
all i keep hearing is something about la croissant avec jam?!?
croissant with jam?
AND Ireland officially says...F OFF!
Update i cant tune in ... Thanks !
I left me portugese dick behind
English link - http://video.consilium.europa.eu/index.php?lang=EN&sessionno=3169
My eye's are glazing over. Man, this is dry stuff.
Only diplomatic BS so far. "We welcome...", "We call upon..."
Dear eurogroup:
Go f... yourself.
Sincerely,
Ireland
CNBC now Zerohedge obsessed, now taken to saying everything there is an 'unfounded rumor' OH so what CNBC says is all scrubbed and polished unspun truth? Ok.
Becky Quick getting arrested on-air, hey you never know.
One day soon, I think a lot of them will just be noticed to no longer be around. Their usefullness is near over.
So to sum up.
Ireland has hardly been mentioned, a lot of rubbish about 'Unity', going on and on about Portugal, the statements at the G20. And oh, of course, mentioning the fact they are shitting themselves about what the bond holders will do. Nice first question about the useless 'stress tests'.
nothing.
Heh. First question: Those stress tests where pretty much worthless weren't they?
I'm already hungry. Should have gone for the chicken and garlic sauce...
That was great being able to watch that press conference. Leave it to the WSJ to get the 1st question, & about the Irish bank stress tests. Heh heh.
So the euro hit the 1.20s on the back of the first Greek crisis. Now we have a double whammy of Greece and Ireland coupled with the possibility of Portugal. How low?
not gonna happen. ben is buying futures. eurusd is already ticking up on the bid, fast. 1.355 by dinner time is my guess.....
There should be a bounce to the resistance level at 1.3566 then back down. The ultimate downside target for EURUSD is 1.283.
Goodnight, all! It was certainly wonderful talking with you all.
Sheep-Dog One was on the roll!
Orly
For fun, here's my downside target before the next leg up: 1.32
Okay.
You're saying that the EURUSD will bounce off of 1.32 before heading higher?
Yes, just an elliot wave hunch, could be wrong.
Play the probabilities, Minion. Play the probabilities.
Nodded off listening to the speeches, lol
"The devil is in the details...."
Exactly.
Oh, and I must have nodded off at some point this year. What is this "permanent crisis resolution mechanism" of which they speak? And how do you read that -- a resolution mechanism to a permanent crisis? Hmmmmm...
yawn fest.
Maybe I'm wrong and someone correct me if I am, but it seems to me they said a lot of nothing which probably means they can't get Ireland to take a bail out. They're sending the storm troopers to Dublin, but so far Ireland is resisting them.
I heard that they were well into the bail out discussions and it was going to happen????????
Exactly, Cobb. The Eurogroup press conference led by President Juncker has ended (what a perfect name for the President of the clusterfook Eurogroup). The good news is that Ireland still has not requested a bailout from the Eurobanksters.
The unclear news is that talks have moved to Dublin, with EU and IMF con artists going to do cocktail napkin calculation with the Irish on the terms of a potential bailout. This move to Dublin could be just the Irish allowing the EU to pretend a bailout is in the works in order to calm the markets. Or, it could be some Irish govt pols are geting ready to accept a bailout.
What was he saying about Geithner at the end?
He was saying that Geithner had phoned to urge them to act quickly. He (Juncker) then smirked and said they did take action and that Geithner's call rang just after they had taken action. Juncker was implying the Eurogroup knew when to take action, and they did not need Tiny Tim telling them what and when to act.
I've been waiting for this moment
http://www.youtube.com/watch?v=k9IfHDi-2EA
I love Johnny Cash...
so the basic outline is that there is no bailout so far. they won't commit to any comment on timeline or money involved. and most importantly, they must have Ireland request the bailout.
in other words, just like Greece, the market will have to force Ireland's hand. expect to see bond spreads continue upward and an emergency Sunday night decision on a bailout, just like Greece.
Can they keep the spreads that wide until next year though???
scratch, check out the Greece crisis timeline... spreads continued to get wider even after the first "agreement" on 11 April 2010. Greece's hand was eventually forced April 27 when it reached into the high 600 basis points.
http://www.guardian.co.uk/business/2010/may/05/greece-debt-crisis-timeline
11 April 2010: EU ministers agree Greek bailout termsFinally, after weeks of haggling the eurozone agrees a €30bn rescue package for its weakest member.
16 April 2010: Fury in Greece over IMF interventionGreek government admits that it may need help from the International Monetary Fund, pushing its bailout up to €45bn.
19 April 2010: Greek borrowing reaches record highThe spread between the yield on Greek and German bonds shoots up to 469 basis points, as Greek workers fear the IMF's arrival.
23 April 2010: Greece activates €45bn EU/IMF loansWith €16bn of debt maturing in May, Papandreou bows to the inevitable and officially requests a bailout.
27 April 2010: Standard & Poor's downgrade Greek credit rating to junk statusS&P loses patience with Greece and slashes its credit rating to BB+, sending stock markets plunging worldwide. Analysts and politicians warn that €45bn simply won't be enough to sort out the Greek crisis, with Goldman Sachs predicting that the country may need a €150bn rescue package.
28 April 2010: All eyes are BerlinEU and IMF officials hold crunch talks with German leaders. Rumours of a €120bn package calm the markets, as Angela Merkel admits that admitting Greece into the euro may have been a mistake.
2 May 2010: EU debt crisis: Greece granted €110bn aid to avert meltdownAfter days of frantic negotiations, the IMF, the EC and the European central bank hammer out a three-year package to rescue Greece.
4 May 2010: Greek protesters storm the Acropolis as markets lose faithAs anger erupts across Athens at the scale of the cutbacks that Greece must now implement, stock markets fall sharply and gold hits a record high as investors start to doubt whether the €110bn bailout will actually solve Greece problems.
here is the Ireland timeline so far, and Greece and Ireland 10 year charts...
http://www.telegraph.co.uk/finance/financetopics/financialcrisis/8133611/Irish-debt-crisis-timeline.html
http://noir.bloomberg.com/apps/cbuilder?ticker1=GGGB10YR%3AIND
http://noir.bloomberg.com/apps/cbuilder?ticker1=GIGB10YR%3AIND
you can see that the Ireland spreads have already reached levels very close to the Greek spread levels on April 27th. they have not yet reached levels that Greek spreads reached at the pinnacle over the May 1-2 emergency weekend. history would suggest that Ireland spreads are going to skyrocket over the next few days and force yet another weekend emergency meeting.
Fair enough. Thanks for taking the time to get that information btw. I was thinking that, since Ireland wont be tapping the market until well into next year, does it actually bother the Irish, or if spreads made a difference to them at this point? But i suppose the whole contagion problem is at the heart of any motivation to take a bailout, plus private sector funding. Still hope they don’t take it though.
The Euro is officially toast. Pass the Attorney General Approved Mediator flavored jam please.
I wonder who is now shouting louder behind closed doors, Angela or Nicolas.
The Guardian is providing updates on Ireland Bailout Talks : http://www.guardian.co.uk/business/2010/nov/16/ireland-bailout-debt-crisis
Thanks to CalculatedRisk for bringing this to my attention. http://www.calculatedriskblog.com/
Why are you reading British tabloids on an Irish subject?
http://www.thejournal.ie/cowen-denies-irish-application-for-state-or-ban...
Basically the Irish people put the gun to his head with a general election. In a country with 2 million people, the Cowan clan understands that it won't have anywhere to hide if it fucks up.
So, does QE3 start @ 9:30 in the morning???
How in gods name is Ireland going to payback the loans and also do austerity with a population less than Greece. Their population is a tad over 6 million individuals.
OK. I'm late to this thread...
How many ways have I missed the term frosted lucky charms ?
Wholesale replica handbags and wholeslae designer handbags online outlet,providing cheap designer handbags,high heel shoes,high heel boots,new era caps,replica designer handbags and chanel handbags online so on,wholesale handbags and wholesale sunglasses are our main businesss,enjoy buying cheap caps and handbags online from our cheap wholesale clothing store.