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Originally Posted by FutureTaoiseach  Nope. Someone else in Ireland might do a better job. The mess we are in is equally the fault of the EU because of the single-interest rate without which the property-bubble would not have reached the astronomic heights it did and consequenty wreck the economy when it burst. |
sorry but only Ireland, Spain (and perhaps Greece) when nuts on property due to the low interest rates, the government could however have prevented such a boom and bust if they had had the foresight and not been looking at the short term tax gains only. France, Germany, The Netherlands, Belgium, etc did not have such destructive property bubles
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Originally Posted by FutureTaoiseach If anything, the recession should strengthen the case for a no vote, constituting as it does a warning-sign of how things can go badly wrong for individual, small member states when power is effectivelt handed over to their often larger member states over a crucial area of national sovereignty. Having said that, I do agree that at present, remaining in the euro is the least, worst option. |
if it were not for the euro and a strong ECB we would in the same mess as Iceland, the only benefit of having our own currency would be the ability to devalue to increase competitivenss, even that aside being part of a large major global currency is far better in the longer term.