Wednesday, September 13, 2006

Are Youze Talking To Us?

Jean-Claude Trichet, president of the ECB, suggested last week that the Irish housing market was ‘abnormal’. Abnormal hey?; abnormal sez he, abnormal is it? Why that jumped up little cheese eating surrender monkey! And to add insult to injury a shower of yahoos be the name of Fitch Ratings sez that, we should keep a look out for "macro-prudential stress”. Oi’ll give dem macro-prudential stress, so Oi will. Why cant all these spalpeens away and feck off. I’m off for a good f**kin read of Ireland's Own.

The rating agency Fitch said it now has five countries on watch for
"macro-prudential stress", up from two last year, using a set of indicators. A
mixed bag, they comprise Iceland, Azerbaijan, South Africa, Russia and,
surprisingly, Ireland, where the ratio of private credit to GDP has reached
190pc, the world's highest. The denouement for Ireland may not be pretty, since
it gave up control of monetary policy when it joined the euro.
Richard Fox, the author of the Fitch report, said: "We're still in a global upswing but this lending cycle is already starting to turn in some countries. Credit growth has
been zooming across the whole of Eastern Europe and that has tended to be a
precursor to banking troubles."

http://www.telegraph.co.uk/money/main.jhtml?xml=/money/2006/09/12/cctrade12.xml

2 comments:

whizzbang said...

190pc? woo hoo!

We're number!
We're number!

go on the best little country in the world!

Anonymous said...

Well if those folks at funda.ie can pull a stunt like they did in late September, with their www.dublincoastaldevelopment.com website, - giraffe only zoo and all - AND be taken seriously to the point that the supposed project got on the national airwaves, it seems only proper that we should all be deemed abnormal... From this evidence it would appear that we'd be prepared to build and buy anywhere!

Regards