The markets want money for cocaine and prostitutes. I am deadly serious.
Most people don't realize that "the markets" are in reality 22-27 year old business school graduates, furiously concocting chaotic trading strategies on excel sheets and reporting to bosses perhaps 5 years senior to them. In addition, they generally possess the mentality and probably intelligence of junior cycle secondary school students. Without knowledge of these basic facts, nothing about the markets makes any sense — and with knowledge, everything does.
What the markets, bond and speculators, etc, want right now is for Ireland to give them a feel good feeling, nothing more.
In lieu of a proper budget, what the country can do — and what will work — is bribe senior ratings agencies owners and officials to give the country a better rating. Even a few millions spent on bumping up Ireland's rating would save millions and possibly save the country.
Bread and circuses for the masses; cocaine and prostitutes for the markets. This can be looked on a unethical obviously, but since the entire system is unethical, unprincipled and chaotic anyway, why not just exploit that fact to do some good for the nation instead of bankrupting it in an effort to buy new BMWs for unmarried 25 year olds.
All timestamps are Melbourne time.