No need for a discussion just two questions.
A Will we get a writedown?
B When?
Then come back and tell the people the answer to A and B.

“Labour’s way or Frankfurt’s way”, I think the GPS took us down a German one-way street there Eamonn.

LABOUR’S WAY OR FRANK…FRANKFURT….Frankfurters… mmmmm *nomnomnomnom*

The promissory note is key… Arthur Spring put the question to Noonan last week in the Finance Committee that if we do not get a deal on that we will need a 9billion adjustment next yr… If that’s the case it’s game over (2x Anglo promissory + 3billion in savings). Noonan just kept saying its all accounted for in the arithmetic

Eamon was bringing over sacks of cash for him on the government jet… Tis a tough life…..

If this is a strategy to have a more personal approach then we’ve sent the wrong man…

‘To discuss’ Who are ye kidd’n. Do as you are told you little pixy Irishman.

Now Mr Gilmore you now how we feel at the way you and your cronies are spending our hard earned taxes

I watched Vincent Browne last night and the Fine Gael TD seemed confused between savings and neutral savings. Vincent Browne shook him down. In the end, this deal will do NOTHING because it fails to address the promissory note.

Epic Fine (Gael)ure

This might help Eamon…..
It’s been two years since Ireland forked over €45 billion to the private creditors of its largest banks. The bank bailout drove Ireland’s deficit to 32% of GDP and played no small role in forcing Dublin to take a bailout of its own from the European Union and International Monetary Fund.

But many of the beneficiaries of that bank bailout were themselves privately owned financial institutions in Germany, France and elsewhere in the EU. The late Brian Lenihan, then Ireland’s Finance Minister, later made it clear that Ireland first guaranteed the banks’ debts, in September 2008, and later paid out on those guarantees in full, under heavy pressure from the European Central Bank. The ECB feared that defaults by the Irish banks could lead to huge losses in larger EU economies and a more generalized banking crisis.

Whether that assessment was accurate at the time, we’ll never know. What we do know is that Ireland, in effect, bailed out foreign banks owed money by Irish ones, and that Irish taxpayers were left with the tab. In fact, they’re still paying—senior unsecured creditors of Allied Irish Banks will receive a further payment of €1 billion this coming Monday, October 1. The bank, now more than 90% state owned, lost €1.4 billion in the first six months of this year, but its bondholders are still being made whole.

For months, Europe’s leadership has talked endlessly about breaking the link between sovereigns and their troubled banks, and are currently in the process of setting up a system that will allow direct bank recapitalizations at the European level.

Ireland, meanwhile, has been left out in the cold. Ireland’s national debt stood at 25% in 2007, but has since ballooned to more than 108%, largely due to the cost of bank recapitalizations and bond repayments. In June, the European Council agreed in principle to find a way to ease this burden on Irish taxpayers. But earlier this week, the Finance Ministers of Germany, Holland and Finland issued a joint statement that said the EU’s bank bailout funds should not be used for pre-existing “problems”—such as Ireland’s.

Ireland made its share of mistakes before and during the financial crisis. But no small part of the current pressure it is under comes directly from the generous treatment of the creditors of its commercial banks. This was done at the behest of the ECB, and largely for the benefit of its neighbors. Irish taxpayers should not have to bear that load alone.

At least, for once, we have an expert in the saddle.

Gilmore spend 10 years as a bond trader in JP Morgan, where he was a slow starter but ultimately highly profitable, after which he was promoted to head of the desk on pure merit. After that he then ran the Fixed Income department for Morgan Stanley for 3 years; again recording significant revenues in the challenging market of the early 1990s. He then was recruited to Chief Debt Strategist at Dresdner, a post that lasted 5 years, in which he presided over several significant and successful restructurings of Eastern European and African Nations seeking funding in a difficult climate. Subsequently Mr Gilmore spent 4 years with Deutsche Bank in their Principal Opportunities Group, working with southern hemisphere nations in their debt management strategy.
In the late 1990’s Mr Gilmore joined Goldman Sachs as a board member where he was an active participant with several emerging markets bodies in co-ordinating debt re-structuring and how best to leverage national assets with bodies such as the IMF. Following that he worked with the World Bank and the UN in support strategies for developing nations and legacy liabilities on a global scale.

Thank god we have the right man in the job.

Or is this the other Eamonn Gilmore, the teacher?

Eamon: Great news lads! They’ve agreed to nine billion up front followed by nine billion within nine months and nine further payments over nine years!

At least that’s what I think he was saying ..

sheisser

Why the foreign minister?

I think that Gilmore is nothing more than a big bag of hot air

I noted a lot of comments about German sausages above. Sticking to the victualler theme, id say he will be boned and rolled !

Gilmore for Taoiseach