Irish bank shares rise. Bank of Ireland and AIB predictions

Sceala Philosopher Location: Kildare

Re: Irish bank shares rise. Bank of Ireland and AIB predictions
What price will they settle at in 2012
Will Irish banks ever bounce back in price?

I do not understand what is going on in Ireland anymore. According to a panel of experts on TV3 last night, we, Ireland are heading for inevitable default.
One of Ireland's leading economists, Dr Constantin Gurdgiev, described the billions going into the Irish banks as, like gold plating a Yugo and then sinking it.
Apparently Ireland has funded some 100 billion into banks that had a market value before collapse of just 3 or 4 billion.
Who has made all the billions out of Ireland? we know, the same EU banks that are demanding we Irish alone pay up to share gamblers. The Germans the French and the British banks have made billions out of criminal activity in Ireland, and now expect the ordinary Irish person to pay.
Now we have paid up they intend to change the law in 2013, ensuring their own people are protected by speculators.
It will be tough luck for speculators in 2013 if their greed and speculations back fire. But for now the Irish alone must pay and shut up about it.
A glimpse of the justice EU style.
We should bring the whole corrupt EU house of cards down now, while we have a chance.
Apparently the EU will do anything to string Ireland along until the point when the new bank shares laws come into law. Once that happens Ireland will be left to the wolves.
Fortunately for us, with Enda Kenny we at least have a chance. The EU knew how incompetent both Brian Cowen or Brian Lenihan were. Fine Gael have some genuine economic minds that will not be bluffed by any EU central bankers.
Ireland's position is so bad, it is now a bargaining card against the EU house of cards.
Economist McWilliams Says Ireland Is Microcosm of Spain. If Spain falls the whole EU falls, good.

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Ireland's honesty is costing us.
Ireland, or should I say Brian Lenihan made a massive miscalculation with the bank guarantee. We never had to do it, and we should not have done it said the economist in the EU.
We are paying for the greedy banks and developers and the incompetent Lenihan.
Those with money will now make even more money from the good parts left of the Irish banks.
The predictions for Ireland by the panel are very shocking to take in.
1. The government will collapse sometime in 2012. labour will be unable to agree to the drastic cuts in social welfare demanded by the EU and IMF.
2. Ireland is heading for a economic and social breakdown before 2013.
Every part of Ireland, North and south will be effected.

News from the Irish banks today RTE. As noted here before, possibly Kerrin, We should remember that these were the same rating agencies that said Irish banks were a great buy just before they collapse.
These rating agencies appear to make money regardless of the accuracy of their economic forecasts, despite their accuracy.

Rating agency Standard & Poor's has cut the country's debt credit rating to BBB+. The move was not unexpected.
But the agency said that the outlook for the economy was more stable, due to its belief that the stress tests on the banks carried out by the Central Bank were 'credible', and the money which would need to be injected into the banks was within its expectations.
As a result, S&P has removed Ireland from what it calls 'creditwatch' status, meaning that a further downgrade is unlikely.
'We are of the opinion that the sharp contraction in Ireland's nominal GDP and gross national product since 2008 has reached an end, and that the Irish economy is now set to gradually recover,' S&P said, adding that Ireland had stronger growth prospects than Portugal or Greece.

The agency said the downgrade reflected its view that Ireland may need to borrow money from the new European Stability Mechanism, due to be introduced in 2013, under which those who lend money to Ireland could face losses.

S&P cut the credit ratings of Portugal and Greece earlier this week for the same reasons, sparking criticism from the European Commission.

S&P also said today that ti would soon assess the impact of its downgrade of Ireland on the ratings of the Irish banks.

Fitch to look at Irish rating
Another ratings agency, Fitch, has said it is also likely to lower Ireland's credit rating in the near future.
Fitch said it had placed Ireland's current BBB+ rating on what it calls 'credit watch negative', which means a downgrade is more likely.
The agency last lowered Ireland's rating in December, but it says it will now assess its view in the light of recent weaker than expected economic growth figures and the increased costs of recapitalising the banks.
Irish banks shares economic crisis in 2.1 Trillion $ in US terms.

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How was it that only Brian Lenihan and Fianna Fail thought we should try and commit economic suicide. No independent top economist anywhere believed Ireland should have even tried to cover the banks.
Re: Irish bank shares rise. Bank of Ireland and AIB predictions
What price will they settle at in 2012
Will Irish banks ever bounce back in price?

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Irish bank shares rise. Bank of Ireland and AIB predictions

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