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THE GREEK GOVERNMENT has warned that the country will almost certainly have to leave the euro if talks on securing its second bailout – which will include a major write-down of its national debt – do not result in a deal.
The second €130 billion bailout, agreed in principle last October, requires Greek bondholders to accept a 50 per cent ‘haircut’ on the value of their investment.
This is so that its mountain of debt – which is the largest in the eurozone, relative to the size of the Greek economy – can be brought under control, though it would remain high.
Talks between Greece and its creditors – who could risk being left with nothing if Greece was to default completely – are continuing, but today a government spokesperson underlined the urgency of the talks.
“This famous loan agreement must be signed, otherwise we are outside the markets, out of the euro and things will become much worse,” government spokesman Pantelis Kapsis told Skai TV.
Kapsis added that further austerity packages could be required in order to rein in government spending:
We will see what the shortfall is and it is very likely that measures will be required [...] I also don’t believe it is easy to impose new taxes, but what does cutting spending mean? To close down the public sector? There is no easy solution.
The talks are hastened by the relatively short tenure of the new prime minister Lucas Papademos, whose five-month tenure is due to expire in April.
The clock is also ticking because Greece is due to repay a €14.4 billion bond at the end of March – an obligation it cannot afford to meet unless it secures the €130 billion in new funds.
Separately today, a spokesman for the prime minister of Lithuania said the country remained determined to adopt the euro by 2014 – after its president shared concerns that the 2014 deadline was not realistic.
“The most important thing are stable finances [to meet the standards laid down by the EU] and the prime minister is sure that our country will meet them,” the spokesman said.
“We can only hope that EU will solve the problems of common currency by that time,” he added.
Additional reporting by AP
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It was a cesspit long before Weatherspoons arrived.
“A urine soaked swill pit” ? Should fit in quite nicely with the rest of inner city Dublin so ….
@Mike Dowling: Drinking is our main cultural association abroad, Stag and hens do’s flock here for our ‘boozy pastures’
@Mike Dowling: the whole dublin centre is a puke and urine soaked kip. Europes most disgusting city centre. There is no other country in europe whos main spot of the country is so terribly awful.
@Lei tatt: Have you ever been to Paris? I’m no lover of Dublin but it’s far from the worst in Europe
All them Wetherspoon’s are kips that attract scrotes due to the ultra cheap prices so I sympathise with the local residents.
@Stephen Heffernan: Stop chatting sh*t. You can get a very good breakfast/ steak dinner in Wetherspoons at a very decent price. I hope they put all the overpriced pubs in Ireland out of business.
@Kieran Conroy: Oh you mean the frozen food that you can make better yourself at home? If you think the food in Weatherspoon is good you seriously need to get out more! They are nothing but British kips, not a bit of atmosphere in any of them and full of scrotes who’d start a fight in an empty room. I’d rather pay for the overpriced pints in other pubs, thanks.
@Kieran Conroy: Last thing I got in there was a dose of the Wetherspoon Mumps.
@J B: They get your money before you get any part of your order (and before you get a chance to complain if something is wrong).
In other places, with pay after, they have no choice but to take ”non English” STG or take nothing. They take it!!
STG is STG no matter Scots, NI, Jersey etc.
@Kieran Conroy: If you think that food is passable then fine but wanting to put other, nicer places out of business sounds spiteful. Personally wouldn’t go within half a mile of one, owing to the clientele
@Stephen Heffernan: That is a really stupid comment. Most Wetherspoon pubs are well designed with great interiors. Have you ever been in one?
@J B: That has happened to me all over the UK, they do the sae with Jersey and IOM notes. They are not the brightest staff there!
@Gerry Lamont: Yes Gerry, I’ve been in quite a few of them. Can you point out where I was criticising their interior design? My comments were about their lack of atmosphere and highly questionable clientele.
@J B: only Bank of England notes are legal tender in England. Businesses may accept NI notes but they’re under no obligation to do so.
https://archive.niassembly.gov.uk/io/research/2008/12208.pdf
@Gary Kearney: only Bank of England notes are legal tender in England and individual businesses can choose not to accept from Scotland, NI, etc
I bumped into an old friend of mine recently and asked him what he was doing with himself these days? He said, ‘I prepare meals for the homeless, drug addicts, alcoholics down and outs etc.” I said, ‘Oh, good for you. Are you working for the SVdP?’ ‘No’, he said, I work at Wetherspoons.’
@Jack Hayes: Government will probs give them a grant
@Thesaltyurchin: No. They won’t though.
@Jack Hayes: the old ones are the best.
@Jack Hayes: Well done on your copy and paste response
@Róisín Flemping-Bunt-Himmler: good one years ago
Cities change over time, referring to what Camden Street once was (I remember it had the markets like on Thomas Street too) is a bit fruitless, that has gone. We can certainly change it again back to something more quaint but it will never be the same as it was. And the closer a resident lives to a city centre the more they need to be prepared for change, I’m not saying they have to take it lying down, they should fight for what they want, but they will find they are increasingly fighting to maintain control of their area. As they are now.
Why didnt they object to the court yard when it went to planning.
Also this is one of the reasons it lay vacant for years. Nearly everything was turned now.
People whom object to certain things should be black listed from entering/useing simlar venues in simlar locations.
@Be Lucky: They did object. They said that by virtue of its layout and proximity to residential property, the outdoor courtyard intended for use by the pub and hotel is incompatible with the protection of nearby residential amenity. An Taisce also intervened in support. DCC has also served two enforcement notices on JD Wetherspoon for breaches of planning in relation to deliveries of stock and collection of waste. Wetherspoons had agreed to a planning condition that deliveries and collections would only happen within specified hours and using vehicles of a particular size.
Changed the moaning from being about noise to everything else you can possibly come up with. Weatherspoons reopening the beef garden is going to make much difference. You live in the middle of the city centre around the corner from coppers. Cop on.
@John Moore: moo
@John Moore: Beef garden? I’d prefer Beef Curtains
I wouldn’t even take a cac in a Wetherspoons. Wouldn’t give a cent to that Tory, Brexit, furlough-loving s***.
@Ian Heaton: indeed ,because the labour party are so full of honesty & morality
There should be more public toilet facilities in the city centre!
@Liam O’ Ceallaigh: The city centre IS a public toilet!!!!
That young lad dealing cannabis deserves a young entrepreneur award!
@Padraig O’Brien: No it’s incredibly sad. Stealing baby wipes and toothpaste?? What has he been through and what chance has he got for a future?? Don’t get me wrong, I am not condoning the behaviour of any of the feral youth in North Inner City Dublin- I’ve been mugged, had fireworks thrown at me and the rest. However, this particular boy doesn’t appear to have engaged in any physical crime. Those two girls who stole from that boy on the Quays disgust me… I’m not sure if Oberstown facilitate females or not but I certainly hope so.
The entire street needs to be to sorted out, this plan just makes it worse.
It was always a pub with a lot of little pubs, but now some of them have gone the Temple Bar way and grown into super pubs.
It is a very mess street at closing time as well as have a user problem.
Would that be Dublin now?
We at weatherspoons believe in the pursuit of profit over the evening peace of residents!
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