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THE EUROPEAN CENTRAL BANK played a more active role in the bond markets last week than it had done in almost two months – intervening to buy billions of euro worth of bonds of eurozone member states.
Data supplied by the ECB this morning showed that the bank had spent €3.766 billion buying the bonds last week, bringing its total portfolio of eurozone shares to €217 billion.
Its involvement in the bond markets was necessitated by the renewed fears over the political rescue of the eurozone, in a tumultuous week which ended with the downgrade of many benchmark countries including France.
Separately, the ECB said that over €493 billion of currency had been lodged in its overnight deposit facility, the highest figure ever recorded as having been lodged in the facility.
The staggering amount of currency being hoarded in the facility indicates more certainly that banks are saving up the cash they had themselves borrowed from the ECB late last year – apparently being willing to take a small loss on the cash rather than risk losing it by lending it to businesses or to other banks.
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You have to love people who go into dunnes and Tesco grab a coffee on their way home and then complain about the farmers. Where do they think these shops get all their food from?
At the end of the day no farms, no food, no future. We should be proud of our farming sector and the quality food we produce.
@Diarmuid O’Braonáin: peaches come from a can
@Tom kenny: they were put there by a man
@Stephen Smyth: or a women
@Stephen Smyth: in a factory downtown
@Eointraverted: and if I had my little way ..
@Peter Roche: I’d eat peaches every day
@Saif Nazar: whoosh
@Diarmuid O’Braonáin: They grow coffee in Ireland now. Wow!! The vast majority of the food I see in shops comes from abroad, even potatoes and milk. Why is that??? and what are ye doing to remedy that. Yet I still do my best to buy Irish, whenever I can but am not going to bust myself. 90% of dairy exported. It seems to me (I am no expert) that without the CAP and other subsidies, a lot of farming is not a viable business proposition. Given that, could farmers not at least explore viable propositions, counter the crazy level of imports and sell to Irish people and reduce emissions.And then we could really feel the meaning of No farms No food in an Irish sense
These farmers all driving new and nearly tractors. What about the real poor farmer whose tractor is barely able to go from field to field. I have no sympathy for these big farmers who are in debt to the eyeballs.
@Gaffer: like the vast majority of companies and people in the country and oh ya the country itself. The suicide rate amongst farmers is pretty revealing and so is your lack of empathy.
@Gaffer: Bla bla bla look at the tractors the farmers are driving. Your comment demonstrates your ignorance of modern farming. Do you expect them to be all using to be still using MF 135s or even a luxurious MF 390 t
@Gaffer: Ignorance on a grand scale
@Gaffer: support the farmers
@Gaffer: support the farmers for
@Gaffer: As far as I know, most of the tractors that go to these protests are supplied by tractor dealerships and the typical farmers dirty old tractors stay at home, as they probably wouldn’t make the journey to Dublin. It does give rise to comments like yours though so I think they are doing themselves a disservice by doing this.
@Locutus Of Borg: what’s wrong with a 390T???!!!! 40k with a high line cab.. some horse of a yoke!!
@Big bad bull:
Not to mention it’s worth more than it was new
Back in the day, FF were understood to represent the small farmer, and FG understood to represent the big. Today, both seem to represent corporations, for which farmers are just another column in a spreadsheet. It is embarrassing that on an island as fertile as ours, farmers must industrialise, make ever-larger fields, and re-envisage themselves as businesses just to compete. Food security is possible without crushing the food producers.
@Fachtna Roe: there is no FF and FG Michael Martin destroyed the paety.
@Fachtna Roe: That’s because the farmers cashed in on their Co-op shares putting them at the mercy of the PLCs they morphed into. Short term gain for long term pain.
Another protest for more money from an already over subsidised sector…..
@M.J. O’ Neill: Yeah youre right how dare they want a fair price for their products we should all go out to the garden and eat grass instead
Not sure if a tractor rally on a Sunday will upset many in the city
@RJ: Rallies more support from the public than jamming up the city while everyone’s trying to get to work or home to their families.
Take note for Wednesday!
@Tony Gordon: What’s on Wednesday?
@The Bolt: Thanks
@Niamh Brady: #dirtydiesel invasion.
@Gavin Tobin: if you don’t like it go get your consumables on your bicycle
Go Veggie, stop eating animals & free the land.
@Mick Staines: No thanks.
@Roy Dowling: lol, we have a poll…
@Mick Staines: to go Veggie you need farmers also or are you just going to grow your own!
@Mick Staines: journal.ie you heard him poll please.
@Mick Staines: yes…. because farmers only farm meat in this country. The magic vegetable fairies will provide the rest
@Alan Noonan: I am two growing seasons into producing most of the veg I eat. It is very difficult to become fully self sustained. So I can tell you the answer to that is no.
@Mick Staines: ya can’t win friends with salad
@Mick Staines: And where do you think vegetables are grown? Also farming is not all about animals. Farmers grow crops. These crops are used to feed people. Hens produce eggs for people to eat. Cows produce milk which is used daily by the majority of people. Also butter is a bi product of milk. Also cheese and cream and yogurt etc etc.
It’s not all about eating animals.
You should really take a trip out of town and educate yourself.
@Mick Staines: Really enjoying my roast beef , so I will give that a miss.
@Mary Mooney: I had the impression that animals also provide fertiliser for the land; I’m assuming this vegan is all about importing some? Unless we’re going the humanure route? That would solve two issues at once.
@Mick Staines: Do you check your veggies in the supermarket to make sure they’re not grown in Ireland. Because that’s the only way you’ll “free the land” in Ireland if you stop farming here. Never mind the long journey and massive carbon footprint of veggies from abroad.
Didn’t realise the Gareth Brooks concert had been brought forward
Only country in Europe that allows Agri tractors on the motorways, “a favour from a minister no doubt” How fu@@3d up is that? Farmers on tractors are allowed to use mobile phones while driving, they are allowed to obstruct roads and pull out onto the road in front of faster moving traffic. No such thing as a poor farmer, IFA is such a big organization (club) they can demand what they like under age old excuse of poor Farmers.. I do respect farming is 24/7 and hard work, but so are a lot of other jobs.
@#1 Fifthwheel: A lot of other jobs where their income is not reduced year on year.
Are you aware that a dairy farmer who supplies milk to a co op only gets informed monthly as to what he is going to be paid after he has already supplied his milk to them. This price changes every month. Going down some months and returning up some months.
The farmer still has the same expenses every month and financial commitments like any other person.
But the difference is their incomes are stable.
Farmers are people too. They have families. They only want to be treated fairly and paid a fair price for their products.
@#1 Fifthwheel: I would argue and say its not as hard as your average construction labor gig.
@#1 Fifthwheel: Facts you missed
Any tractor capable of 50 k can drive on any motorway in EU and UK
Farmers like anybody else cannot use mobile while driving
Agriculture vehicles have as much right to use public roads and it is your narrow outlook that thinks they only do it to obstruct you
@Mary Mooney: Sadly the market decides the price.
@#1 Fifthwheel:
Some facts you seem to distort
Any agricultural vehicle capable of travelling at 50k or over can travel on motorways both in the EU and UK
Like everyone else it is unlawful to use a phone while driving ANY vehicle
It is necessary to move machinery on the road and this is done to harvest your food not obstruct your passage.
@Tony Brady: Sorry but FACTS are, 60 kmph minimum on any European motorway, and Agri tractors are not permitted on motorways. The same as was here until without mention, someone in high office allowed this ridiculously dangerous change in motorway regulation. Buses, tractors, nowhere else will you see this. Nor the selfish as shole ,s who drive around with front foglights on dazzling other drivers. Maybe you’re one of those..
@Tony Brady: and as much right , and use less road than a cyclist, who doesn’t pay road tax or insurance
@#1 Fifthwheel: take the chip off your shoulder ,sit down and enjoy a dinner that a farmer somewhere has provider for you. Agree with you that fog lights on cars used indiscriminately should be banned
@Gary Kearney: do you really believe kerry and glanbia etc don’t know what the markets will return? And if they don’t, there’s a lot of experts in offices robbing a living.
@Jay: Work one week as the sole operator on a diary farm and come back to me. There is not a more difficult job on this island.
If you ate today, thank a farmer.
@Conor McNamara: This statement is such BS. Everyone who works and has a job is contributing to society in one way or another.
@Conor McNamara: More than likely a foreign farmer, possibly in Holland.
If it ain’t red leave it in the shed. M’on the farmers, without them we starve.
They should really wait until Wednesday for the big protest.
@d: as a motorist myself i really do support that protest. Paid 90 eu for 52l of diesel yesterday its just crazy.
However i do hope that they will let through people that are having an emergency, the rest – such as myself can wait and support the protest against sky rocketing cost of living.
@John Johnes: I’ve a hospital appointment and honestly not sure what to be doing. Been waiting ages for it, postponing it might take months.
If only we built hospitals outside the congested city centers!!!
@Richard: i very do hope that you will get to the hospital Richard. Try to find somewhere online when it starts so that maybe you can get there earlier if you can just in case
@Richard: That would not help the city centre mortgaged businesses or the bankers that have lent them money for the “footfall” that is guaranteed in the city centre. These people ( the organ grinders) and banks decide where hospitals are put not their “monkey’s” – the politicians you elect who pretend to make the decisions. Hence the ridiculous decision on siting the new children’s hospital.
The Gov has a lot on its plate over then next few weeks now and this is the time we need strong leadership from all. The way they have handled COVID has been scandalous and I am just amazed now that they are not slinging muck at the UK Government anymore telling them that they should be careful with how they deal with COVID. Seems they got things right a lot more than us here
@Maurice O Neill: numbers in the UK have risen the same as here. They are just not reporting on it or putting ant restrictions in place to crb th we in numbers because they had their Freedom day.
@Maurice O Neill: nonsense
@Maurice O Neill: You must believe in fairies!
@Maurice O Neill: The UK is the example of how to do Covid wrong, up until this way and reopening we were doing brilliant. Used by others as an example of getting it right. Everybody bought into the plan.
@Stuart Doherty: Niot at all they are not testing as much as others and yet manage to be the top of the list on most infected on a daily basis.
They are 1% better than us on a weekly average which means they have 250,000 new cases.
With a population who are behind us in vaccination %.
Thats the hard data.
No different to any other day. Holding up traffic where ever they go
How not to win support, close down the city with the biggest population on the island. The politicians are not in the Dail now, and on Wednesday there will be the usual ones out to show support.
So what will it achieve with politicians not much, what will it do to the people of Dublin but annoy the hell out of us.
Maybe we should head down to Toomevara and bock it up over protests about the Metro and the public transport issues in Dublin. See how Tim Cullinan feels about that.
@Gary Kearney: dubs block up every coastal county each summer. So what’s new
I said pig pen this here’s the rubber duck and I’m about to put the hammer down.
Oh we got a great big convoy rockin’ through the night lol
@Anna Carr: the movie of my childhood.
@Roy Dowling: mine too. Loved it lol
Well as long as you are not supporting them by eating breakfast lunch and dinner….
@Ann Morris Doolan:. Unless you eat barley or beef for breakfast, they are not supplying it.
Why protest at an empty building.
Id say if revenue wanted they could have made a killing at that protest dipping tanks for incorrect fuel
This is the type of comment that shows how little dome people actually know. It’s actually hilarious. Tractors use green diesel. Maybe, try and be outraged by something else
@: Facepalm.
Do they not know government buildings are empty on a Sunday,plan it for a Friday after lunch when all TDs are trying to get home for the weekend.
whatever about the farmers,where are the Teacher Unions (ASTI, INTO, TUI etc) for their members? Why are they not wild cat striking to bring Government into line on school and student safety?
I remember during the last one, a farmer says to me “isn’t it nice for them living this life” in a context, and tone indicating he thought dubs lived in luxury.
As I said – I’m from Dublin, had to get up 2 hours earlier than normal because of your protest, and I could afford that tractor in about 50 years.
If farmers aren’t making money how are they servicing the debt to pay for all the expensive tractors and combines etc. Are the banks engaged in sub prime lending or is it direct farm payments covering the cost of the investment
@Hugh Mc Donnell: Direct payments, but what is your point? Without them, they would not be harvesting anything. They would have to go full USA and have large factory farms and corporation run farms. Is that the Ireland you want? It’s not the Ireland anyone outside of Dublin will ever vote for.
What we do need, is an honest IFA not scaremongering, and a government with concrete plans that they can discuss with farmers. Instead, we get a pair of dishonest tools.
And yet, we do need to reduce our methane emissions drastically if we are to survive as a species. We have committed to do this. Let’s set aside the lie that Irish beef production is either grass fed or efficient. While Irish farmers proclaim that we should not sign the new EU trade agreement with Brazil as long as it is burning the Amazon rain forest, those same Irish farmers are happily importing soya beans from Brazil to feed their doubled in size (over the last 10 years) herds during the winter months because, hey, there is not enough grass product to go round in winter because there are so many cattle now. The price of beef is such that even with substantial subsidies from the EU and Irish taxpayers to keep the price up there is no added value – so we are basically paying farmers to raise cattle they cannot make any money on, the biggest waste of money imaginable.
Let’s show everyone how much we care for the environment – by driving 80 diesel tractors on a two-day trek across the country in order to purposely try clog Dublin streets.
Fairly belting along
Fairly belting along
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