Former IMF director says Ireland will need another bailout in 2013
Donal Donovan has predicted that the country will need assistance until 2015 even though the current EU/IMF deal runs out in 2013, The Guardian reports.
Just six months ago Ireland agreed an €85 billion bailout deal with the EU and IMF but Donovan, who worked for the IMF for 28 years retiring as deputy director, told a Business for Ireland conference in London that the country would need further help.
He said it was unlikely that the markets would be willing to lend to Ireland again at a reasonable interest rate until way beyond 2015:
We need money and one way could be to have a new European stability mechanism or even IMF facility at a lower scale [in 2013].
This would allow the refinancing of the obligations falling due and keep that going for another couple of years until perhaps then we come to the market. http://businessetc.thejournal.ie/former-imf-director-says-ireland-will-need-another-bailout-in-2013-117266-Apr2011/?utm_source=shortlink
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ReplyDeleteSwindling the Goyim: The Basic Swindle
http://www.wntube.net/play.php?vid=1261
Swindling the Goyim:Episode Two
http://www.wntube.net/play.php?vid=1656
Banking reform cannot succeed without first hanging the bankers and then taking back what they have stolen.
"Banking reform cannot succeed without first hanging the bankers and then taking back what they have stolen" AGREE 100%
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