Thousands of people are marching on the streets of Dublin to protest against the Irish Republic's four-year austerity plan.

The Irish Congress of Trade Unions (ICTU) has promised a family-friendly march through the city centre.

However, police previously warned that some groups may be looking to "exploit" the event and could cause trouble.

The march comes as Ireland tries to complete an EU-led bail-out package to prop up its troubled banks.

Irish police commissioner Fachtna Murphy has said he hopes the march will be dignified and peaceful. However, he said police are prepared for the possibility of trouble.

There was violence during a student protest against increased fees in Dublin earlier this month.

ICTU general secretary David Begg insisted the protest would be good-humoured and very well organised.

The march has been organised as a response to the state's austerity plan, which includes proposals to slash the number of public sector jobs and increase taxes in order to save 15bn euros (£12.7bn) over the next four years.

Under a bailout plan agreed with the EU and the International Monetary Fund (IMF), the Dublin government has accepted up to 90bn euros (£77bn; $124bn) in loans.

In return, the government is to unveil an austerity budget on 7 December.

It suffered a setback with a by-election defeat on Friday which leaves the coalition government with a majority of just two.

Several union leaders and political figures are expected to speak later, and artists including Christy Moore and Frances Black will perform.

The officer in charge of policing the event, Chief Superintendent Michael O'Sullivan, said: "While our policing plan is primarily focused on crowd safety, it will also aim to prevent any disruption".

"In addition we will gather evidence of any unlawful or criminal behaviour which might occur with the intention of bringing those responsible before the courts."

Bloody damn toffs!  Why does "austerity" always mean the Widow McCarthy gets less for bread and butter?  The cost of that farcical royal ceremony to come on April 29th could set up every pensioner in Cork for life.  As it was in 1811, so it shall be in 2011.  Nothing new under the sun!
http://www.inthe00s.com/smile/11/BangHead.gif


I don't believe we're talking about Northern Ireland.  This is the Republic of Ireland, which does not curtsey to the Queen.  They told the royal family to go pack sand way back in 1948.

One does wonder where Bono is throughout this mess; perhaps he can do a song to make all well again.

One does wonder where Bono is throughout this mess; perhaps he can do a song to make all well again.
...or he could pay out more in taxes?

...or he could pay out more in taxes?


Good Lord, man!  Even Bono has his limits!  ;D

Under a bailout plan agreed with the EU and the International Monetary Fund (IMF), the Dublin government has accepted up to 90bn euros (£77bn; $124bn) in loans.


There will be a bailout.  There will be an austerity budget.  It may mean new elections, but that's something to be solved next month, not this weekend.  The only question is what will be the interest rate on the bailout.  6.7% was the word earlier today, probably more like 5%.  Ireland's insolvent, but it's not as screwed as Greece.

This ultimately comes down to whether or not Merkel's willing to risk her political future by bankrolling it.  She's caught between a rock and a hard place: either bail out the rest of the PIIGS (Portugal, Italy, Ireland, Greece, Spain) on the Germans' dime, or watch the Euro cease to exist.  Hey, Europe wanted a monetary union, and now that it has one, its nations either hang together or they all hang separately.

...and if you think this is scary, wait'll you see Spain hit the same wall in 3 months.

There will be a bailout.  There will be an austerity budget.  It may mean new elections, but that's something to be solved next month, not this weekend.  The only question is what will be the interest rate on the bailout.  6.7% was the word earlier today, probably more like 5%.  Ireland's insolvent, but it's not as screwed as Greece.

This ultimately comes down to whether or not Merkel's willing to risk her political future by bankrolling it.  She's caught between a rock and a hard place: either bail out the rest of the PIIGS (Portugal, Italy, Ireland, Greece, Spain) on the Germans' dime, or watch the Euro cease to exist.  Hey, Europe wanted a monetary union, and now that it has one, its nations either hang together or they all hang separately.

...and if you think this is scary, wait'll you see Spain hit the same wall in 3 months.


Jesus Harold Christ!  What a mess!  Spain also has 20% unemployment. 

"Austerity for you, amigo!"

--Xavier Onassis
Minister of Fiance

http://www.inthe00s.com/smile/12/help.gif

EU ministers meet in Brussels to discuss an 85bn-euro bail-out for the Irish Republic, with a deal said to be almost complete.

Jesus Harold Christ!  What a mess!  Spain also has 20% unemployment. 


Meanwhile, back in Ireland: cha-ching!

Angela blinks.  Ireland gets $113B (85B Euros) bailout at 5.8%.  E45B from European governments, E22.5B from the IMF, and E17.5B  from Ireland's remaining cash and national pension fund.  Bondholders in AIB get off scot-free.  Wooho-aaw, crap, I don't own any bonds issued by AIB.  But a lot of peoples' pension funds do, so it's still better than the alternative.

Futures are green tonight; when (not if) the US/ROK war games in Korea end without further incident, look for markets to bump up again.  (caveat: China ratcheting up margin requirements for commodities speculation might put a damper on it).  Next year's anyone's bet, but for now, it's one crisis down, one to go.  As they say, you can't beat the luck of the Irish.

Meanwhile, back in Ireland: cha-ching!

Angela blinks.  Ireland gets $113B (85B Euros) bailout at 5.8%.  E45B from European governments, E22.5B from the IMF, and E17.5B  from Ireland's remaining cash and national pension fund.  Bondholders in AIB get off scot-free.  Wooho-aaw, crap, I don't own any bonds issued by AIB.  But a lot of peoples' pension funds do, so it's still better than the alternative.

Futures are green tonight; when (not if) the US/ROK war games in Korea end without further incident, look for markets to bump up again.  (caveat: China ratcheting up margin requirements for commodities speculation might put a damper on it).  Next year's anyone's bet, but for now, it's one crisis down, one to go.  As they say, you can't beat the luck of the Irish.


Aye, top o' the marnin' to ye! Next round's on me!
http://www.inthe00s.com/smile/07/pfiade.gif

As they say, you can't beat the luck of the Irish.


The saying "luck of the irish" is often misunderstood as it is a statement of irony.

The saying "luck of the irish" is often misunderstood as it is a statement of irony.


Lucky we didn't starve to death, now pass the potatoes!
:-\\

Bloody damn toffs!  Why does "austerity" always mean the Widow McCarthy gets less for bread and butter?  The cost of that farcical royal ceremony to come on April 29th could set up every pensioner in Cork for life.  As it was in 1811, so it shall be in 2011.  Nothing new under the sun!
http://www.inthe00s.com/smile/11/BangHead.gif

We're not the same country, you know.  Besides, we're already lending Ireland more than the (admittedly farcical) cost of that ceremony.. and you know what?  I rather doubt any of it's going to help pensioners in Cork.

...either bail out the rest of the PIIGS (Portugal, Italy, Ireland, Greece, Spain) on the Germans' dime, or watch the Euro cease to exist.  Hey, Europe wanted a monetary union, and now that it has one, its nations either hang together or they all hang separately.

...and if you think this is scary, wait'll you see Spain hit the same wall in 3 months.


Spain going under? Yep...pretty scary, but wait! Our friends the financial speculators are even daring to murmur that Belgium (of all places) could find itself in the firing line shortly after...

And if that sounds pretty fierce (although the words 'Belgium' and 'fierce' are not exactly bedfellows!), then there's also softer murmurings of France going to le mur...

Looks like being a pretty interesting 2011...

There will be a bailout.  There will be an austerity budget.  It may mean new elections, but that's something to be solved next month, not this weekend.  The only question is what will be the interest rate on the bailout.  6.7% was the word earlier today, probably more like 5%.  Ireland's insolvent, but it's not as screwed as Greece.

This ultimately comes down to whether or not Merkel's willing to risk her political future by bankrolling it.  She's caught between a rock and a hard place: either bail out the rest of the PIIGS (Portugal, Italy, Ireland, Greece, Spain) on the Germans' dime, or watch the Euro cease to exist.  Hey, Europe wanted a monetary union, and now that it has one, its nations either hang together or they all hang separately.

...and if you think this is scary, wait'll you see Spain hit the same wall in 3 months.


Yeah, the whole concept of the EU is unraveling in its naivete and impracticality.

Yeah, the whole concept of the EU is unraveling in its naivete and impracticality.


Yep, it was based on the whole "bigger is better" concept.

I still say that the ultimate unravelling of the Eurozone will happen when a nation that is having a tough go of it sees the rise of an ultranationalist leader who blames all of his country's problems on the Eurozone... and uses it as a pretense for violence.

Yeah, the whole concept of the EU is unraveling in its naivete and impracticality.

Not really, no - the concept of the single currency, with its huge diversity in economic strength (& fiscal propriety) without any central control of the economies within may well be, but the EU is a different beastie. Having said that.. if the Euro survives the current turmoil, it'll probably survive anything.. but that's kind of dependent on Germany taking the political decision to support the weaker states - they may decide to, but that's by no means guaranteed as German voters are already pissed off at having to bail out a hideously ramshackle Greek economy which hadn't even tried to sort its own problems out.

The EU's a great idea, currently I'd say the biggest threat to it is the venality and arrogance of the core institutions - too many people getting paid way too much and unwilling to kill the golden goose and root out the corruption within.


I still say that the ultimate unravelling of the Eurozone will happen when a nation that is having a tough go of it sees the rise of an ultranationalist leader who blames all of his country's problems on the Eurozone... and uses it as a pretense for violence.

It's only really Germany that could have that kind of catastrophic effect on the Euro (and they have a bit of a paranoia about ultranationalist leaders.. I'm sure there's a good reason for that); those economically weaker countries wouldn't cause anything like as many problems for the Euro with nationalist violence as they do with their economic troubles.  (and I think you meant "pretext")

Futures are green tonight; when (not if) the US/ROK war games in Korea end without further incident, look for markets to bump up again.  (caveat: China ratcheting up margin requirements for commodities speculation might put a damper on it). 


Better caveat: Everyone realizing that this isn't the end of the beginning, but the beginning of the end, and the markets have been struggling ever since.  Oops!  Not a profitable week in the land of Foo!