Til Debt Do Us Part

at

Finance Minister Paschal Donohoe

This morning.

The Irish Times reports:

Euro zone finance ministers reached a compromise on Thursday to break days of stalemate over how to respond to an economic downturn that threatens to be the worst since the Great Depression in the 1930s.

Under the deal, which amounts to €500 billion in a range of tools, states can borrow from the European Stability Mechanism bailout fund to finance spending needed to overcome the crisis.

…But it dashed the hopes of Italy, Ireland, Spain and six other member states that had called for eurobonds to bring down borrowing costs and send a signal of unity as the continent confronts a health crisis that threatens to become an economic disaster.

Meanwhile, RTÉ reports:

He said it is very possible that Ireland will need to access funds from the European Investment Bank to help fund companies and will consider whether to access the programme to help fund wage subsidy schemes.

It is hoped that it will not need to use the fund from the European Stability Mechanism, he [Finance Minister Paschal Donohoe] added.

He said a new Government in Ireland must have a stable majority but must reflect the hopes and fears of the electorate when they voted.

Euro finance ministers agree €500bn package to address pandemic fallout (Naomi Leary, The Irish Times)

Ireland may need limited access to new EU Covid-19 rescue package, minister says (RTÉ)

8 thoughts on “Til Debt Do Us Part

  1. Basque frog

    “The hopes *and fears* of the electorate”?
    Dont miss a chance to keep the knives in the air…

    1. The Old Boy

      That line has put a hymn tune called “Forest Green” into my head for the rest of the morning.

    1. GiggidyGoo

      Yeah – sure we are well protected, and the current lot in power have upped the testing. Massive numbers being tested at Croke Park and Pairc Ui Caoimh. Sure what could go wrong?

  2. V

    So they want the Paddys to borrow
    From them

    Knowing that our crowd would rather give payrises, increments and settlements
    Dole outs under mocky’ah tenders to their pals
    And
    Knowingly commit to engagements and projects that will overrun, and into other EU members pockets

    Rather than exercise any strategic long-term fiscal prudence
    Definitely not at a cost to them while they’re in the job
    Like they did to student and graduated Nurses and Teachers

    So no printing money or Euro Bond Sales
    Or even a other National Solidarity Treasury Bond and let us invest in ourselves, and our own rebuilding

    Looking forward to hearing what Clare, Mick, & Mike have to say here

  3. V

    So they want the Paddys to borrow
    From them

    Knowing that our crowd would rather give payrises, increments and settlements
    Dole outs under mocky’ah tenders to their pals
    And
    Knowingly commit to engagements and projects that will overrun, and into other EU members pockets

    Rather than exercise any strategic long-term fiscal prudence
    Definitely not at a cost to them while they’re in the job
    Like they did to student and graduated Nurses and Teachers

    So no printing money or Euro Bond Sales
    Or even a other National Solidarity Treasury Bond and let us invest in ourselves, and our own rebuilding

    Looking forward to hearing what Clare, Mick, & Luke have to say here

    Priorities
    Acting Government, Minister and Taoiseach or not
    They Priorities haven’t changed a bit

  4. realPolithicks

    “He said a new Government in Ireland must have a stable majority but must reflect the hopes and fears of the electorate when they voted.”

    And yet they won’t even talk to the party that won the most votes…

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