“Ireland, not the EU is in charge here. The opening salute from Kenny should not be to ask for EU concessions but to simply say “Go to Hell” or more politely to offer 1 cent on the dollar for debt.”

33 comments on ““Ireland, not the EU is in charge here. The opening salute from Kenny should not be to ask for EU concessions but to simply say “Go to Hell” or more politely to offer 1 cent on the dollar for debt.”
  1. rob says:

    Max,

    I live in Ireland.
    If Ireland defaults, what happens?

    Lots of people are saying “it’s the best option” ..but what are the consequences?

    regards,
    rob

  2. youri Carma says:

    Ireland’s new government on a collision course with EU, 26 February 2011, by Bruno Waterfield, Dublin (The Telegraph) http://www.telegraph.co.uk/news/worldnews/europe/ireland/8349497/Irelands-new-government-on-a-collision-course-with-EU.html

    As Irish voters headed for the polling booths on Friday, the European Commission bluntly declared that the terms of the EU-IMF bailout “must be applied” whatever the will of Ireland’s people or regardless of any change of government.

    “It’s an agreement between the EU and the Republic of Ireland, it’s not an agreement between an institution and a particular government,” said a Brussels spokesman.

    “It’s an agreement between the EU and the Republic of Ireland, it’s not an agreement between an institution and a particular government,” said a Brussels spokesman.

    A European diplomat, from a large eurozone country, told The Sunday Telegraph that “the more the Irish make a big deal about renegotiation in public, the more attitudes will harden”.

    “It is not even take it or leave it. It’s done. Ireland’s only role in this now is to implement the programme agreed with the EU, IMF and European Central Bank. Irish voters are not a party in this process, whatever they have been told,” said the diplomat.

  3. slackrabbit says:

    “the European Commission bluntly declared that the terms of the EU-IMF bailout “must be applied” ”

    OR WHAT?
    How can you make people pay – who don’t have the money?
    HOW?

  4. Harry says:

    Ireland’s only role in this now is to implement the programme agreed with the EU, IMF and European Central Bank. Irish voters are not a party in this process, whatever they have been told,” said the diplomat.

    Diplomat? What diploma did (s)he get to say that?
    I see a dollar really later this year based on the Irish weakening the Euro…

  5. Robert Mockan says:

    “It’s an agreement between the EU and the Republic of Ireland, it’s not an agreement between an institution and a particular government,” said a Brussels spokesman.

    What IS the Republic of Ireland, if not the people? And if the majority of the people object to the agreement then there is no agreement. The Brussels spokesman says the (austerity) agreement is NOT between an institution (the EU-IMF), and a particular government. Thus Brussels admits whatever government is in power is irrelevant. The EU-IMF does not have a legal leg to stand on. If this “agreement” is enforced it would have to be done with military force. If ever there was need for Ireland to apply the 50 cent solution, this is it.
    All representatives of the banker occupation in Ireland should immediately be arrested.

  6. 8Ball says:

    slack, Iceland is your example… they stood up to the banksters and the banksters stood down. They have not gotten completely rid of them but they are on the right path.

    “Hibernia is the Classical Latin name for the island of Ireland. The name Hibernia was taken from Greek geographical accounts. During his exploration of northwest Europe (c. 320 BCE), Pytheas of Massilia called the island Ierne (written Ἰέρνη). In his book Geographia (c. 150 CE), Claudius Ptolemaeus (“Ptolemy”) called the island Iouernia (written Ἰουερνία). It is likely that the Romans saw a connection between these historical names and the Latin word hibernus meaning wintry. In any case, the Roman historian Tacitus, in his book Agricola (c. 98 CE), uses the name Hibernia.

    Iouernia was a Greek alteration of the Q-Celtic name *Īweriū from which eventually arose the Irish names Ériu and Éire. The original meaning of the name is thought to be “abundant land”.

    Keep your land “abundant” and throw out the thieves who seek to bleed you dry!

  7. Ryan says:

    The Irish peolple have massively voted for a party that is committed to paying back the bondholders. The interest rate may be 6% rather than 6.8% but the results will be the same. Budget cuts, jobs losses and privatisation. They have been hauled onto the neoliberal operating table and have consented to the organ donor surgery. Their is absolutely no chance that the bourgeois party Fine Gael will rock the boat. They have been relishing the opportunity of implementing a Thacterite program for years. Not they’ve got it.

  8. 8Ball says:

    Ryan, that is depressing news… One of the mysteries of human nature is that they somehow feel that they must be “led” by unprincipled megalomaniacs and they are attracted to them.

  9. Omega Pointing says:

    Given that Kenny is a rightwing, banker-hugging, and proto-Thatcherite idiot, I sincerely doubt he will dare to reject the ruling of the IMF. The man is, like Obama, an empty suit. Instead of vainly voting in another banker apologist, the Irish people should’ve risen like their Egyptian brothers – the system must be cleansed and I agree with Mish that the only way this process can begin is if the Irish default on their debt. HOWEVER, do you really think – really! -that Kenny will put the decision to the Irish people. Let’s not forget that FG are as corrupt as FF.

    No change here. Nothing to see. Move on.

  10. The devil beneath the floorboards says:

    my vote for best actor of the year is… The stock and bond market.. for its stellar role in the black comedy “The Merging of Corporate and State Powers is Fascism” a lovely little definition we should all see and remember–

    aaaaaaaaaaaaaaand something the kakistocracy might do well to remember is the french last used the guillotine..for a public execution in 1977. not tooo long ago really OWTH!

  11. Wolferl says:

    Ähm, as far as i know that fake economical miracle in Ireland over the last 10 years was based on almost no taxation and almost no regulation for banksters and big business. I do not hear a single word about chancing that. But i know it nice to find someone else to blame for one´s mess.

  12. youri Carma says:

    Amazing video of massive solar flare erupting from surface of Sun http://www.youtube.com/watch?v=wFb7OZx2NYo

  13. 8Ball says:

    “fake economical miracle in Ireland”…

    So the people borrowed a chitload of money and then one day they woke up and realized they had to pay it back. Now they are mad at the people who loaned it to them. Sounds like the housing bubble in the US or perhaps a better analogy: the drug dealers who give free samples to users until they get them hooked?

  14. Gordo says:

    I’ll make the call.

    These guys will also cave to the neo-Liberal agenda.

    They are after all snicker snicker “Center Right” snicker snicker.

    Er — Do you actually think the right is able to figure this thing out??

    Give me a break. Not in their fucking DNA.

  15. Ryan says:

    @ 8Ball that’s just the point the people did not borrow the money, about 200 property developers did using their pet investment bank. These liabilities were taken on by the last government, who have since borrowed from the ECB/IMF. Now the people are stuck with the the dud assets and a huge interest bill.

  16. 8Ball says:

    Ryan, That sounds a lot like what happened in Iceland. The banks and the government were making all kinds of deals unbeknownst to the people and while the good times were rolling the people just went along for the ride… When the deals went sour then the banks and the government tried to stick the people with bill. Is that a fair assessment?

  17. 8Ball says:

    Mark, Good link, it backs up what I have known for many years…

  18. Wolferl says:

    @ 8Ball

    So what is the plan? Default of the big Irish banks and the Irish state and then you go on with ultralow or no taxation for big companies and no regulation for banks?

  19. 8Ball says:

    A modest plan… get a plot of land, a cow and some chickens. Go back to a simpler lifestyle and forget about the promoters of greed and their schemes.

  20. The Dork of Cork says:

    This goverment is just another bunch of insiders – we are fucked without sovergin money and we are fucked with it.
    The country is just too globalised to look after itself now – we have been infantilised by the banks over the last 5 decades incorporating multiple generations.
    We can only stick our thumbs in our mouth and suck.

  21. 8Ball says:

    A more ambitious plan: A Jubilee and a Do-Over… But that is why governments have armies, tanks, bombers and missiles, isn’t it? To prevent that from happening.

  22. Marc Authier says:

    The banksters already have the UK and swiss bank numbered accounts filled wiht money to buy out the new team. :) Lol

    If I was only joking. It’s certainly the case. They will be all bought off.

  23. Marc Authier says:

    Default or debt prison ? Think the Irish will be sold as IMF cattle slaves by their leaders. Meet the new boss, same as the old boss. I don’t believe in their promises. The only exception is still Iceland.

    DEFAUTL or DIE……..

  24. Ryan says:

    I believe there will be an intense period of conflict as the new government tries to drive throught the cuts and austerity, esentially pin it on the working classes. Even the middle class economists are predicting an eventual default under the massive debt burden. Better get it over with. It may end up with an Argentine type series of governments.

  25. JOE SOAP says:

    Max & Stacey, if you thin that Fine Gael/Labour have the balls to reject the EU or IMF you are incredibly naive. Enda Kenny is the most stage managed politico since George Bush.

  26. Sean says:

    Wait for it people. We will make the Greek protests look like at tea party. This is the last chance the Irish political establishment gets it’s chance to take on the EU and IMF. If they don’t all he’ll will break lose.
    It looks like hell might break lose as rumour has it that our new Fine Gael government will appoint one of their former members Peter Sutherland of Goldman Sachs to negotiate the bailout terms. So the banks we’re bailing out have one of their henchmen doing the bidding on our behalf. Uncontrolled default is inevitable.

  27. Paddy says:

    My god, these EU/IMF shylocks really want their pound of flesh dont they? Fine Gael (with Labour’s meek acquiesence) are more than willing to give it to them i’m sure. One of FG’s rising stars is Leo Varadkar, a man who lists Thatcher and Reagan as 2 of his favourites. We’ll see if the Irish public bend over and take it up the arse. You already hear a lot of venom directed against the public sector and unions which is exactly what the foreign and domestic banksters want.

  28. JOE SOAP says:

    Sean said: “Fine Gael government will appoint one of their former members Peter Sutherland of Goldman Sachs to negotiate the bailout terms. ”

    Most of the Irish populace hardly know who ‘Sutherland’ is and especially don’t know what he represents. The Irish will only riot when nothing is left, they still believe marking an X bseide someone’s name every 4 years is a revolutionary act.

  29. Dark Markets says:

    “Massive Rout in Irish Elections; Collision Course with the EU; Default the Best Option for Ireland”
    ABOUT TIME! I wuz wondering when the Irish would COME TO THEIR SENSES, and (ht@paddy) tell these banking vampire parasite blood-sucking shylocks to go to hell!

    I mean, it’s one thing for the clueless American public to be GROSSLY IGNORANT about the truly GENOCIDAL NATURE of Big Finance. (See my previous comment –
    http://maxkeiser.com/2011/02/27/austerity-measures-begin-in-u-s-to-pay-for-banker-bonuses#comment-252746 or the Rush song “Big Money GOT NO SOUL.”)

    But the Irish have the GREAT FAMINE, an gorta mor, in recent memory!
    http://en.wikipedia.org/wiki/Great_Famine_(Ireland) – MILLIONS DIED, or fled Ireland
    (many as virtual slave cargo on death ships, in pestilential holds, where the passengers – entire families – were forbidden to come on deck for fresh air for weeks at at time!) due to the famine caused, not so much by the potato blight, but because the English invaders had DRIVEN Irish Catholics first from Ulster Plantation (Northern Ireland) using Scots & English Protestant de facto MERCENARIES to settle the ethnically cleansed estates; which practice soon spread to the entirety of Ireland, English laws PROHIBITED Irish Catholics from owning farms,
    http://en.wikipedia.org/wiki/Great_Famine_(Ireland)#Laws_that_restricted_the_rights_of_the_Irish
    immediately preceding the famine – during which English lords, landlords, merchants, AND BANKERS, EXPORTED GRAINS _from_ Ireland’s fertile estates, AT the very HEIGHT of the famine!
    http://en.wikipedia.org/wiki/Great_Famine_(Ireland)#Food_exports_to_England

    What has taken the Irish so long to put two-and-two together, that the English were PERFECTLY HAPPY to STARVE MILLIONS of Irish 150 years ago, and, today, the English lords & genocidal banksters are PERFECTLY HAPPY to DO IT AGAIN.

    Here’s hoping the Irish salvage some of that “Western DEMOCRACY” thing, and expose the Vampire Parasite genocidal banker occupation, before the damn vampire bankers polish up Phase 3 of their global occupation, and make commissar mass-murder “Holomodor” and vampire squid famine a commonplace.

  30. MEJanssen says:

    Default is inevitable. What cannot be repaid will not be repaid. The Irish can try to pay, but it will only kill their economy and then they will default and get booted out of the EU. Or they can tell EU to stuff it, default, and get booted out of the EU. The pain is over quicker with the second choice, and they can always do business with non-EU countries like Iceland, Latvia, Russia, India, Turkey, USA, Mexico, Brazil, China, South Africa, etc . . .

Access The Max Keiser Podcast
Weekly Downloads, live Q & A Session and exclusive video posts from Max and Stacy

Subscribe Learn More
Buy Gold Online
Buy Gold Online
Watch the latest Keiser Reports:

Watch our Google Hangouts: