Yesterday I found this post on the Telegraph website (via Stephen Kinsella). Its quite a worrying read for those of us who are worried about Ireland’s future.
Ireland is funded until April but after that we will have to return to the bond market. Our auctions are currently suspended. As Colm McCarthy said in the Irish Independent
“The €1.5bn not borrowed in October plus the €1.5bn not borrowed in November represent borrowing postponed, not borrowing avoided,”
If we can’t raise this money, we may have to tap our pensions reserve of €12bn, but that is not a good idea as we do need that money.
The spreads over German Bunds are mimicking the action seen in Greece in the final hours before the dam broke.
This is a worrying sign. Are we about to the way of Greece?
Even if the government manage to win the Donegal South West election and pass the budget, we might still not be better off.
Its looking like sooner or later we will have to go cap in hand to the EU-IMF bailout fund.
The College of Commerce Cork is introducing a new night course on the EU. I recieved the following via email
Introduction to the European Union
This course is designed to provide an understanding of the range of issues concerning the functioning of the European Union and to raise the awareness about Ireland and its role within the EU. It aims to help learners develop an awareness of their opportunities, rights and responsibilities as European citizens and to enable them to actively engage with the European dimension in their lives.
The course is divided into the following units:
Unit 1: History of the European Integration
Unit 2: EU Institutions (How does EU work?)
Unit 3: EU Policies (What does EU do?)
Unit 4: Europe and its Citizens
Time: 7.00 – 9.00 pm
Duration: 10 weeks
Course Fee: €110
Commencement Date: Wednesday 30th September 2009
If you have any further queries please do not hesitate to contact the College on 021- 4222100 or Natasa Callinan at ncallinan[at]ccoc[dot]ie
This could be interesting if you want to learn more about the EU.