Isn’t it just,
And yet during the no campaign many people held up Argentina as a country that had done well after defaulting in the past. Errr not it hasn’t really.

Ireland most certainly isn’t Argentina and unlike Argentina we don’;t have as many natural resources to get by on, defaulting would cause our country to be in pain as long as anything else

Could it not also be argued that Argentina has also suffered because the results of an IMF program.

Yes, the IMF programme is largely what trashed Argentina’s economy. The IMF have a wonderful track record of destruction.

and yet there the good guy to us and ECB is bad guy

Basis points.

Basis points

Bullsh*ts per Second in the Irish Government’s case

Basis points. A basis point is one hundreth of one percent.

Thats because it has had it’s default and rescue.

But Argentina is more of a risk, having chosen the Iceland path even earlier than Iceland..

All of which would make you worry about the consequences of using that path to avoid reform.

thats because mums gone to iceland

I doubt it if Warren Buffet has too much of his future tied up in Iceland.The cold truth is that nobody gives a rats ass if Iceland disappears off the map in the morning.It may effect the sardine market for a short period of time but 350,000 people is about the same amount that loses their jobs in America every month.You have to remember your dealing with politicians here.You can trace every problem in every country right to their front door.Sad but true.

iceland burned the bondholders years ago, they’re doing fine now!

yeah people in Iceland did ‘fine’ if you didn’t mind losing over half your savings

The population of Iceland is only 325,000 – The same course of action would have caused way more damage in Ireland with it’s 4.6 million. We needed to save the banks, we just should have been smarter about it… incompetent corrupt FF either panicked or actually deliberately screwed the taxpayer to save their chums!

which countries are you taking about cause I don’t see them on the list ahead of Ireland.

@Jason, that’s because they aren’t in the top 20

Third world countries are less of a risk than Ireland because
They did not have Anglo, aib, inbs
They pay public servants what they can afford given their tax take not more like we do,
They have not so generous social welfare and pension rates,
Maybe other reasons as well

Yhea so since FG took over things have got worse. Vote FG for jobs and stability

that’s because it’s not so much how wealthy the country is, but how it’s divided. pretty much everything about right wing economics is wrong.

Except most left wing run states in the world has failed. See USSR, Cambodia, Zimbabwe, Britain(required IMF assistance in the 70s after welfare binge), Vietnam, North Korea, Yugoslavia and many others.

and how many right wing run countries have failed sean?????

Sean, it would be wrong to say Britain needed a bailout in the 70s due to large welfare bills. It was actually Right-Wing measures most at fault. In the early 70s such as the deregulation in the mortgage market, Barbers massive tax cuts, and the use of credit. Also in the 70s the oil crisis had a deep impact on Britain. It significantly added to inflation, indeed workers pay did increase to match rising inflation.

As for the rest of those countries, I would not consider them left-wing in the traditional Marxist sense, they were profoundly anti-democratic and their leaders were more concerned with power than the equitable distribution of wealth.

Why would anybody sane want to enter the Euro?

They joined last year.

Cyprus are a bit unfortunate in that a lot of their problems can be traced to an accident that saw their only power station wiped out. It was estimated to have done €1bn-€3bn of damage. Considering the population of Cyprus, that’s like €6bn-€18bn for Ireland.

http://www.guardian.co.uk/business/2011/jul/29/european-debt-crisis-cyprus

While they certainly have other problems, not least of which is the situation in Greece, their largest trading partner, it really was a case of happening at completely the wrong time.

Cyprus is in Eurozone since 2008. As a Cypriot I would say that the power plant disaster, strong link with Greek banks and buying Greek bonds hit the economy eventhough the global crises was not very strong at the beginning… If you think that the second biggest bank is owned by greeks and the CY government bought so many Greek bonds it’s not difficult to predict wht would happen if Greece leaves Euro. Cyprus has borrowed 2,5bn Euro from Russia last year but not really sure about ability to pay. The government is thinking of applying for EFSM, following the Irish and Greek way :(

It seems that Fianna Fáil and Fine Gael have lied to the electorate. It’s probably just a once off.

The treaty hasnt come into effect yet. So even if we defaulted tomorrow you couldnt blame the treaty

The risk is still there. Voting yes means that if we cannot refinance on the markets the ESM will be available to us.

Don’t try and deny that the whole Yes campaign was based on the notion that if people voted Yes there would be no chance of a crisis be it default or no access to the markets or whatever – that “stability” scaremongering shite was applied loosely and fastly