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I've been watching the chat for some time now.
I don't see what the fuss is. I do business with China all the time. This type of delay is normal, it means nothing, it certainly does not mean that they are short of cash, or reneging, or anything sinister at all. Things are different in China, its difficult to get money out of or into the country. It shows that Baba O'Reilly doesn't know what he is doing but it is no reflection on the Chinese, there is a lot of bureaucracy, its just the way things are. The culture is different and there are a lot of hoops to jump through, particularly when you are dealing from RMB to Yen to Dollars or Euro. The typical transaction involves a conversion from Rembi (Internal Chinese Currency) to Yen (External Chinese Currency) to Euro or Dollars. Its slow, but once everyone is happy, it gets done. The penalty for financial misconduct in China tends to guarantee that you don't get the chance to get caught a second time so people are naturally very careful.
You are right Phoebus, unless they can demonstrate a clear and credible reasn why not, they have to issue it. And a climate emergency whch has nit even been defined won't cut it. But and having said that, the civil service can string things out for a very long time indeed.
If EXOLA are entitled to receive a Barryoe site survey permit under the regulations DCCAE will have to issue it regardless of what APEC does. The way things have played out suggest APEC was waiting on the Irish drill ban being thrown out before paying as they got the ball rolling the very next day. The fact that we have been told that payment is only outstanding due to compliance checks by HSBC ties in perfectly which this thesis. Even if it is a ruse and and the APEC payment is dependent on the issuance of the permit, the reverse cannot be true. If it's legal, they have to issue it.
Regarding the arrival of money if it went on the 9th ... where is it? there are billions of pounds dollars euros etc being transacted every day around the world and it does not take 9 days to go from one international bank account to another.. all done in a matter of hours not weeks .... lets hope we have promising news before close of business tomorrow ...at the latest.
I agree but the public sector will never take a decision that it doesn't need to. If APEC don't pay up then they don't need to do anything. Anyway, apparently they paid on the 5th or was that the 9th so we're just waiting for it to arrive apparently... I'm sure they'll take the decision within a few days of that.
Actually Mamms I think it would help if DCCAE showed willing and issued the permit. All of the oressure woukd then be on the Chinese to honour their commitments and come through. It shoukd be the job of politicians to encourage economic growth and help develop security of energy supply. But instead they are more worried about the five minute rolling news cycle and what An Taisce might say. So I think their perspective is stupid and self-serving. But I understand it, having a profound sense of cynicism about politicians in general.
I believe the pattern is, a promise of funds and rising price first half of week, then no funds and no comment leading to falling price in second half of the week..... The department won't give any update to the permit good or bad until this debacle ends. It would be pointless and stupid if they did (from their perspective).
Well, DCCAE haven't posted anything n their website saying they've issued the permit, or even the appropriate assessment determination. I honestly think now that they are waiting to see if the money comes through, so they don't take flak from An Taisce, only to see the project being put back again. On the money front, I doubt we'll hear anything before Monday. And I very much hope that, in extending the backstop once again, the Comany can at least provide an assurance that they've spoken to HSBC, who have confirmed that the funds are in the system.
No sign of an RNS so far today, re arrival of funds or permit approval. Surprising....
Wouldn't it be nice just for once to receive news without having to go right to the wire ? Guess they have never heard of the under promise over deliver concept. "On or before the 19th July" - AKA - RNS Monday morning 22nd @ 7.05 - very last minute !! Still think the survey permit is or was the issue here,, The Chinese will know how difficult it will be to get their $10m back off PVR if the permit is not granted. Lets face it, that was touch and go for a while until the Climate Bill was rejected last week. SO PRV please update us where we are at with survey, and what actions are been taken to secure a swift & positive outcome ?????