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Troika Considering Changing Irish Bailout Terms, RTE Says

Tyler Durden's picture




 

The Spanish precedent is indeed spreading, and as noted here previously a week ago, the Irish demand to get equitable treatment may be about to be granted:

  • TROIKA CONSIDERS CHANGING IRISH BAILOUT TERMS, RTE SAYS

However:

  • BROADCASTER RTE DOESN'T CITE SOURCES FOR BAILOUT REPORT

So most likely just a trial balloon to see the European response. But why not? What is the downside: Europe blinked and now it is up to the peripherals to demand the same. Next up: Portugal, Greece (again), and again... Spain. And so on, until the socialist utopia finally does run out of other people's money.

From RTE:

The Troika is considering making big changes to the terms of Ireland's bailout as part of a concerted effort to organise the country's return to the markets, RTÉ News has learned.

 

The changes would focus on extending the repayment schedule of Ireland's bailout loans.

 

At present Ireland's loans to the EU are an average of 15 years long.

 

The Troika believes the country has been sticking to its bailout targets and its cost of borrowing would be lower were it not for the worsening of the euro zone crisis.

 

In an effort to secure a return of Ireland to the markets, sources say the Troika is considering adjusting the terms of the country's repayments. Instead of paying back EU loans over an average of 15 years it is considering extending them to 30 years.

 

The issue has not yet been raised with the Irish Government or with EU leaders.

 

The move would amount to Ireland's official creditors taking some pain and would require political agreement.

 

However, Troika sources say the step is being considered in an effort to convince the markets that private sector bondholders would not be burned in future by Ireland.

 

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Mon, 06/18/2012 - 08:13 | 2535871 falak pema
falak pema's picture

troika : biggest producer of golden apples in the world; brand name : Hesperides. 

Mon, 06/18/2012 - 08:14 | 2535872 battle axe
battle axe's picture

Finally the Irish get a break. Guinness for everyone.....

Mon, 06/18/2012 - 08:14 | 2535873 GeneMarchbanks
GeneMarchbanks's picture

Europe blinked and now it is up to the peripherals to demand the same. Next up: Portugal, Greece (again), and again... Spain. And so on, until the socialist utopia finally does run out of other people's money.

*LOL*

How does one 'run out' of something that is faith based not to mention infinitely elastic?

 

Mon, 06/18/2012 - 08:35 | 2535914 AnAnonymous
AnAnonymous's picture

How does one 'run out' of something that is faith based not to mention infinitely elastic?

_________________________

How? When you have to do. As US citizens have in order to avoid facing the face that running out of money is not the issue, the issue is as shown by the GD is when you run out of stuff like land, other's land to distribute to your citizenry.

But that would point at US citizenism. So a no go.

Mon, 06/18/2012 - 08:20 | 2535878 midtowng
midtowng's picture

The trioka will probably talk to Ireland about this if for no other reason than to stall the process.

Mon, 06/18/2012 - 08:27 | 2535890 disabledvet
disabledvet's picture

This is all (bad) rhetoric now. The EU is flying apart befor our very eyes and only the media demands "change you can believe in." Ridiculous. Criminal actually. I hope the media folks get sued for everything they're worth. Starting with the Mayor of New York sounds good.

Mon, 06/18/2012 - 08:30 | 2535900 LeisureSmith
LeisureSmith's picture

I wonder if Cristiano Ronaldo is rehypothecated....Maybe these countries can start pledgeing their national teams as collateral.

Mon, 06/18/2012 - 08:30 | 2535901 Arnold Ziffel
Arnold Ziffel's picture

In the end, no Austerity for anyone...just printing and cheers all round.....

Mon, 06/18/2012 - 08:31 | 2535907 LeisureSmith
LeisureSmith's picture

There is money in Liquid bread and circus.

Mon, 06/18/2012 - 08:32 | 2535911 PartysOver
PartysOver's picture

The Q is:  Who didn't see this coming.

So do we save the Ouzo, Irish Whiskey, Sangria, Pinot Gregio.   That's a tough one.

Eff the French.

Mon, 06/18/2012 - 08:35 | 2535917 MFL8240
MFL8240's picture

hahahahahaha

Mon, 06/18/2012 - 08:36 | 2535922 q99x2
q99x2's picture

Feed me. Feed me more.

Mon, 06/18/2012 - 08:56 | 2535969 writingsonthewall
writingsonthewall's picture

until the socialist utopia finally does run out of other people's money.

...it's all OUR money you retarded fool!

 

I love the way the capitlaists now feel they OWN the capital - when in fact all they ever did was BORROW it.

 

This is why we have a problem with them giving it back.

 

Capital represents shared resources - so what gives the capitalist the right to ownership? especially when that ownership is found "at the barrel of a gun" - which now the capitalist says is 'not-capitalism'.

 

Oh how fucked up will this get when capitalists endlessly try to justify their contradictory system.

 

try again sucker - and keep trying until Capitalism collapses into fascism - as it was always predicted to do so.

Mon, 06/18/2012 - 09:19 | 2536022 RoadKill
RoadKill's picture

Are you a moron? Its pretty clesr from this you are a Commie, so same thing?

The FUNDAMENTAL tenant of capitalisim is ownership of capital. If you build a factory you own it. If you improve fallow land and make it productive you own it. If you capture and/or breed animals you own them. If you have an idea and commercialize it you own it.

Factories, agriculture, ideas - those are the fundamentals of caoitalisim - not fiat. Fiat simply is a medium of exchange and store of value (a good one if well controled a bad one when not). Money is not capital. Money represents a claim on resources - mineral, labor and machine - which can be invested in creating goods, services and more capital.

My capital is mine NOT OURS. I havent borrowed shit from you.

Mon, 06/18/2012 - 10:13 | 2536129 Seize Mars
Seize Mars's picture

Right on, Roadkill.

It's amazing, actually, how thoroughly some people will buy what the TV tells them. Whatever.

Here's a great example, Detroit Michigan. You can't find anyplace in America so completely "managed" from top down. At one time, it was one of the world's greatest success stories, where ordinary people could go and actually make enough to support home ownership, and so on.

Completely and utterly destroyed by socialism.

The concept of ownership of property, and the power that has to lift you out of poverty - seems to escape some people. They just don't get it.

Mon, 06/18/2012 - 12:10 | 2536449 writingsonthewall
writingsonthewall's picture

You are clearly the moron.

 

you build a factory using natural resources and you think you OWN it?

 

You fucking prick - do you have a contract from GOD saying your OWN parts of the planet?

 

No your don't you fucking retard.

 

It's amazing what people can convince themselves of from watching the telly and not asking too many questions.

 

I suppose this is why most white Americans have no problem with the ousting of native Americans (at the barrell of a gun) - but then demanding capitalism is allowed to flower without any ocerscion or force (once you ahve ALREADY USED FORCE TO GAIN AN ADVANTAGE)

 

I am not surprised you don't get it - you won't realise that Capitalism as always doomed until it drops you in the shit.

 

...then like EVERYONE ELSE - you will suddently become 'a communist' - because it's the only way to survive post capitalism.

 

Fuck you and your retarded capitalist brain.

Mon, 06/18/2012 - 13:22 | 2536703 Seize Mars
Seize Mars's picture

Silly.

Tue, 06/19/2012 - 05:03 | 2538746 writingsonthewall
writingsonthewall's picture

Silly?

 

What is silly is the claim to have ownership over something you did not PRODUCE.

 

Clearly some people have posession issues - what's the matter? - feel worthless without your material posessions?

 

Maybe it's because you have nothing to offer which is human.

 

Either way - I'm still right, Capitalism will fall and you will end up crying and pretending you were a 'communist' all along (either that or you will join the Barbarians)

Tue, 06/19/2012 - 20:52 | 2541463 Seize Mars
Seize Mars's picture

Nah, I'll be fine.

Mon, 06/18/2012 - 09:56 | 2536087 eclectic syncretist
eclectic syncretist's picture

How long will it be before people begin to realize that the banks already know they'll never get paid back the government debts that are owed them, and don't care?  How long will it be before people begin to realize that the banks don't even care if they ever get paid back, because their game is to simply issue more and more debt (which is created out of thin air; think fractional banking after borrowing imagidollars from the central bank) so that interest payments increase. Since the loans are guaranteed by German taxpayers the banks risk absolutely nothing.  Their game is to keep the bailouts going indefinitely, meaning only the politicians or the populace can stop the pillaging.  That is where we are.

Taking your money out of TBTF banks is a moral imperitive when you understand what is being done.

Mon, 06/18/2012 - 09:59 | 2536096 nah
nah's picture

it really can get better

Mon, 06/18/2012 - 10:25 | 2536144 Islander56
Islander56's picture

The war in Europe continues with the savers under seige by the International Banking Cartel. The constant bombardment of fiat currency continues.

Mon, 06/18/2012 - 11:09 | 2536242 Old_European
Old_European's picture

Qualitative Easing!!!

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