EU audit finds €5.2bn irregularities

Some good news for those who think shenanigans is confined to Ireland and perhaps a further withering of the once esteemed Nobel Peace Prize .

The European Court of Auditors, which is responsible for checking the finances of the EU’s institutions, said today it had found irregularities affecting 4 per cent of total spending during 2011, equivalent to around €5.2 billion. via EU audit finds €5.2bn irregularities – The Irish Times – Tue, Nov 06, 2012.

‘It’s not much,’ said Larry Bird. ‘We’ve given over 20 times that to rogue banks and unsecured bondholders.’

Hardly the point Larry – but a great one all the same!

 

Filed under: The Irish Daily Bull, bondholders, EU, euro, Europe, European Court of Auditors, financhial irregularities in europe, larry bird, nobel peace prize, The Irish Bull

EU Wins Nobel Peace Prize!!

The European Union has won the Nobel Peace Prize, and given the dysfunctions in Europe right now, this is being greeted with a lot of jokes and skepticism. via EU Wins Nobel Peace Prize – Business Insider.

‘Well that’s the last of their credibility done with,’ said Larry Bird. ‘Unbelievable.’

It’s not known how the $1.2 million prize will be divided out among Europe’s 500 million citizens.

‘Give my share to charity,’ said Art Flimsy. “I can live without it.’

Filed under: The Irish Daily Bull, Art Flimsy, EU, Europe, larry bird, nobel peace prize

Reilly demeans people’s pressures as Gilmore bats for Europe

Health chief James Reilly showed little sign of disappointment in the registration his Labour junior minister Róisín Shortall – telling a group at a constituency event: “Pressure’s only for tyres.” via James Reilly on Shortall’s departure: ‘Pressure’s only for tyres’.

‘Tell that to the 450,000 people on the dole or people impacted by suicide,’ said Larry Bird. ‘Care givers. Low paid workers. Kids being forced to emigrate. The list goes on and on’

Questions over leadership

The Labour party were said to be at ‘civil war’ last night, according to TV3’s Ursula Halligan, who reported many within the party were shocked and dismayed at the departure of Roisin Shortall. The resignation however doesn’t seem to be hindering Eamon Gilmore’s long-term political mindset, despite the Labour parties decline under his stewardship.

Speaking in New York Gilmore, he said he was ‘disappointed’ by Shortall’s resignation, before breaking into a Euro chant. The tánaiste told Bloomberg that Europe needs a winner, and Ireland is going to be that winner.

‘Nice to see where his priorities lie,’  said George Oilwell. ‘I don’t see much life left in this government.’

Filed under: The Irish Daily Bull, bloomberg, department of health, Eamon Gilmore, Europe, Ireland, james reilly, new york, roisin shortall, TV3 Ursula Halligan

No comment from Daley Thompson on excuse given for severe UK economic downturn

The United Kingdom’s version of Michael Noonan, chancellor of the exchequer, George Osborne, ‘has woken to a wave of criticism after shock figures revealed Britain languishing in the longest double-dip recession for more than 50 years. via George Osborne Lambasted Over Britain’s Double-Dip Recession.’

Figures show the UK economy shrank by 0.7% in the last quarter and a full 1% since the turn of the year under the Tory government’s own austerity drive. The figures led to Ed Conway of Sky News to level a ‘banana republic’ accusation at the seemingly inept chancellor – who recently had to do a U-turn on a string of budgetary measures he had just introduced.

Blamed for weak economic data

Extraordinarily, leading British economists have blamed the rain for the sharp downturn on the UK’s economic downturn.

‘And Daley Thompson has a go at us?’ said Larry Bird – referring to the former Olympic champion, who commented during the week on live television that a tattooist who spelled the word ‘Olympic’ incorrectly must be Irish. ‘Blaming the implosion of your economy on rainfall? George Lee wouldn’t say that.

Ireland’s ongoing recession is seen by many as a permanent one, given the governments own austerity drive here and the countries unsustainable debt burdened on to the Irish tax-payer to save rogue banking institutions.

‘A double dip. We wish,’ said Faye Ecoruin.

Fears for a 1930’s style depression continue to grow daily as worrying figures emerge around the world.  Growth forecasts for China has fallen sharply this year and fears for a bursting property bubble leaving the Chinese economy heavily exposed. Property accounts for 40% of China’s GDP. 

Spain is inching closer to seeking a full sovereign bailout as regional governments hit the Spanish national government for bailouts of their own. Italy have told poverty stricken Sicily to cut its spending. Even Germany have been placed in the firing line of a credit downgrade. Deep divisions within the Eurozone on how best to deal with the crisis, major banking scandals and revelations about trillion euro tax avoidance schemes don’t bode well for a quick solution to the planet’s mounting problems.

‘House of cards,’ said George Oilwell. ‘Evolving into Dominoes.’

Filed under: The Irish Daily Bull, china, Daley Thompson, debt crisis, economic sovereignty, Europe, Faye Ecoruin., George Oilwell, George Osbourne, germany, Ireland, larry bird, michael noonan, spain, Tory Party, UK

Eurozone unemployments hits record high – Debt solution in jeopardy.

Record unemployment

Employment in the Eurozone has reached record levels according to new figures released by Eurostat. The rate now stands at 11.1%.

Ireland’s rate remains 3.5% higher than the average – the fifth worst in the Eurozone. Over 2 million people have been made unemployed in just 14 months and with the Eurozone hop-scotching from one calamity to the next, the figure is set to climb further.

In separate news for Euro fans, last week’s announcement of a deal for bailout countries appears to be in jeopardy with Finnish and Dutch governments throwing cold water on plans to buy bonds on secondary markets with bailout funds in efforts to aid Spain and Italy who have been subject to market chaos in recent weeks.

‘The Devil’s in the detail,’ said Faye Ecoruin. ‘Luckily there’s a lack of detail.’

The Euro is expected to plod along for speculative purposes before eventual collapse according to George Oilwell.

‘You’ve been warned,’ he said.

 

Filed under: The Irish Daily Bull, debt crisis, Europe, eurozone, finland, holland, Ireland, Italy, spain, The Irish Bull, Unemployment

Italy & Spain hold Germany to ransom as debt deal becomes possibility

Backed deal

Spain and Italy took on the Germans last night at the EU summit and did what the government here have failed to do since they came to power. Play hardball and win.

Taoiseach Enda Kenny has said an EU agreement to bring down borrowing costs for indebted nations will ease the burden on Ireland’s taxpayers. via Hope for Ireland on bank debt as Eurozone nations reach deal | BreakingNews.ie.

Spanish prime minister Mariano Rajoy and Italy’s Mario Monti threatened to block further progress at the summit unless they received assistance to curb soaring borrowing costs. The deal still has to be ironed out, but is expected to be for countries who adhere to strict austerity programmes with a wider goal of moving Europe toward fiscal and political union. New French president, Francois Hollande – attending his first summit – backed the move.

‘Bad night for the Germans,’ said Faye Ecoruin.

The tanaiste Eamon Gilmore said the move was a ‘game changer.’

‘He hopes so,’ said Larry Bird. ‘But I think people have seen what he stands for already. Anybody’s way, but Labours way.’

Though the details have to be decided, The Irish Bull would like to extend a cautious thank-you to Spain and Italy for their hardball approach in standing up for the interests of their respective peoples.

Filed under: The Irish Daily Bull, Eamon Gilmore, economic sovereignty, Enda Kenny, Europe, Faye Ecoruin., Francois Hollande, germany, Italy, larry bird, politics, spain, The Irish Bull

IMF Chief causes worldwide outrage with Greek remark

‘Rampant tax-dodgers’

In an interview with the Guardian newspaper, IMF Christine Lagarde said she had more sympathy for victims of poverty in sub-Saharan Africa than Greeks hit by the economic crisis. via Christine Lagarde’s Greek comments provoke fury | World news | guardian.co.uk.

‘It’s nice to know who we’re in bed with,’ said Larry Bird – who’s going through a lean spell. ‘I wonder what she will say about us when we have to default?’

Largarde also accused the Greek people of rampant tax-dodging – despite the IMF profiting from nothing but debt throughout their short history. They have left a trail of human misery in their wake as they stripped countries of their national assets. In recent times they have been booted from various South American countries.

 

 

Filed under: The Irish Daily Bull, christine lagarde, Europe, greece, IMF, larry bird, The Irish Bull