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People and Politics by Patrick Roberts

Irish finance minister will print t-shirts saying 'We're not Greece' - Novel way to show differences in economic crisis

Posted on Thursday, June 23, 2011 at 12:55 PM

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The Irish Finance Minister Michael Noonan has come up with a unique way to disentangle Ireland from the Greek financial crisis.

He says he is considering he’s getting T-shirts printed that say “Ireland is not Greece” in an effort to distance Ireland from other debt-burdened nations.

“We won’t give them away, we’ll sell them,” Noonan said at an event in Dublin today. Monetary Fund.

Noonan spoke against a background of worries that investors are not differentiating between Ireland's position and the Greek one.

Bloomberg reported that The yield premium on Irish 10-year debt and German bunds, Europe’s benchmark, widened to a record 894 basis points on Thursday. The premium on Greece’s debt is at 1,398 basis points.

After previously been compared to Iceland, Ireland is now trying to avoid comparisons with Greece which is facing a major financial and political crisis.

“We have a very strong mandate and we have the support on issues from the opposition,” Noonan said on June 16, referring to Ireland’s coalition government. “Greece is entirely different. There seems to be no cross-party support.”

Meanwhile Irish leader Enda Kenny criticized the media for constantly asking why he won't ask French president Sarkozy for relief in the rate of Ireland's debt repayments.

“What do you want me to do? Ring up the Elysee and say, ‘I’m here, I need to speak to you,’” he told reporters.
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11 comments

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Towngate | Jun 27, 2011, 05:52 AM EDT

Mama: Been on the sauce again? You are wrong about this as you are about so many other things. Ignorance knows no bounds! If you want to know something,honey,simply ask! - instead of making a false statement about someone you don't know - to the 'ether'! I am not a Bondholder (In IRELAND?! - can you be SERIOUS?) - although I have a considerable Stakeholding. Not the same thing! ~~~ W/knee; To answer your 'question'~ We are using somebody elses Bailout money to live on now - so that makes it OUR own Irish Debt! Tragic - but really quite simple. ~ ~ ~ We dug the hole for ourselves - make no mistake - and I cite a current example of how we did: The present Government is cutting million euro Subsidies to Irish Airports and internal Air Carriers which were established in 'order' to present an image of vibrant commercial air traffic system within Ireland. ( We call it 'cod-ology'!) The planes are mostly flying empty and the airports only opened for the landings. - Just a small example of the hill Ireland has to climb! .....

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mamaginnty | Jun 25, 2011, 06:06 PM EDT

I think Iowngate might be one of the bloody bondholders.

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WoundedKnee | Jun 25, 2011, 04:31 PM EDT

"until the debt is paid off." Why should Irish people pay other people's debts, towngate?

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FallsRNat | Jun 25, 2011, 08:00 AM EDT

why then is Kenny lauding the euro project, it's time to cut youse losses, leave the eurozone & tie the punt to sterling on the exchange rates. Having a flexible exchange rate is the way forward, only German interests are served by the euro, also once Ireland leaves the euro they like UK should resist putting money into bailing out other countries.

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Towngate | Jun 24, 2011, 05:36 PM EDT

I like Mr Noonan. Though ageing, he is energetic and committed. Sincere too. But he should forget the T-shirts, and Establish a National Standard Cost of Living for ALL Citizens and Services. Then adjust Pay to balanced Consumer Prices until the debt is paid off. Then ensure, by Law, when we are back on out feet, that the country does not dig itself into such a hole ever again again. ~ ~ ~ If such a fertile country cannot support such a tiny population by self-sufficient means, and meaningful foreign inward investment; then it really is time to switch off the lights .

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GeorgeDillon | Jun 23, 2011, 05:28 PM EDT

In view of the extraordinary levels of settlement by foreigners over the past years, which continue even today (more than a thousand foreign settlers stream into Ireland each week) I would suggest that the T-shirt simply read: Ireland is not Ireland.

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seamusdenais | Jun 23, 2011, 04:36 PM EDT

We should be threatening Germany to pull out of the Eurozone. If we do they will go nuts and stop their Nazi bullshit.Did you know the EU was invented in a German bunker in WWII. They loaned money like sharks to stupid white collar criminals in Fianna Fail . Why play nice guy to them. Any fool knows they will never let any country out of debt unless they're German.They are about CONTROL. Greece wake up and Michael Noonan stop being pathetic.

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mamaginnty | Jun 23, 2011, 03:21 PM EDT

This is really helping Ireland ? He should print them For all F.G and Labour, with the words..Shame on me. On the back ..Kick me ass.

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WoundedKnee | Jun 23, 2011, 02:43 PM EDT

He will need a little more space on his T-shirts. They should read: "We're not Greece. Greece is a country of free men & women. We in Ireland are spineless eurolizards".

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casualMBA | Jun 23, 2011, 01:43 PM EDT

"Hear, Hear," Loyal Citizen, or should that be "Here, Here?"

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LoyalCitizen | Jun 23, 2011, 12:42 PM EDT

Greece has its corruption just like Portugal. I bet its no where near as bad as Irish Politicians have made Ireland. Noonan will have to put on the tea shirt that they have been stealing from social welfare recipients for decades by using opinions to judge people and not evidence. Noonan might also have to admit that Irish Politicians have falsified the rule books and accounts of Ireland using opinions since the inception of the state.

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