"If ye love wealth better than liberty, the tranquility of servitude better than the animating contest of freedom, go home from us in peace. We ask not your counsels or your arms. Crouch down and lick the hands which feed you. May your chains set lightly upon you, and may posterity forget that you were our countrymen."

Monday, 22 November 2010

Joke Of The Day

Ladies and Gentlemen, performing in front of his own home crowd and with a great future in stand-up before him, I give you... ...German Finance Minister Wolfgang Schaeuble.

"If we now find the right answer to the Irish problem, then the chances are great that there will be no contagion effects."

Meanwhile, away from the 'Komodie Verein', others expressed a different view.

Peter Chatwell, rate strategist at Credit Agricole CIB in London. '" I don't think this does anything to take Portugal and possibly Spain out of the firing line."

Carsten Brzeski, economist at ING. "Will it prevent contagion? In the short-term, but not in the medium term. It only calms down markets and gives the other countries some room to breathe. Particularly, Portugal is not off the hook yet."

Edro Schwartz, economist at San Pablo University in Madrid.   "If Portugal is forced to take a bailout then they'll turn their attention to Spain and I don't know what the government will do."

The second prize goes to George Osborne who had us all in stitches by repeating the same words over and over again for more than two and a half minutes but not actually say anything of consequence at all.
"International bail-out... very, very close neighbour... national interest... friend in need....shared border... international interest...Britain's national interest... deeply connected... national interest... our interests... international effort... national interest...  ..." 
He also got brownie points from the judges for implying that any bilateral agreement was part of a wider agreement when in fact Britain will be contributing to Ireland's bankers and government three times if the bilateral deal goes ahead - we've already contributed via the IMF and via the EU.

RTE has the video with the bits other media left out:  RTÉ.ie Extra Video 2 - RTÉ News Player

WhoHe warns of 'drastic conditions'
Cowen's party begins to desert him

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