Should Ireland Abandon the euro?

[dotski_w_]

we should be grabbing the ECB by the goolies and demand they either devalue or we pack up and leave them & possibly the EU.

"we"? Is this a reference to you and a few of your sad loser mates in the pub? "WE" (the Irish nation) have no interest in you or your nonsensical ideas. WE are not looking to leave the EU, and WE think that you are a loon.

If you want to leave the EU, that's fine, you'll find all you need here British Airways - Plan your journey (I picked out BA for you because I know that you grew up in England and you share a similar position on the EU to most of your fellow little Englanders....)

[hiding behind a poster]

1. Any book on basic economics will confirm that to you... Quantative Easing has always lead to inflation, but the ECB is quite content allowing the eurozone to be in the possition fo being too expensive to sell their exports within the EU that are not Euro members or America.

2. HBAP - My reasons for saying we should leave the euro is because whether Quantative Easing happened or not, the euro was still increasing in value making it bad for Irish business because our good & services beacme more deaer to the foreign customer.

If we are to recover and recover properly; we should be grabbing the ECB by the goolies and demand they either devalue or we pack up and leave them & possibly the EU.

No no no, that's all nonsense. Now, the main point is that you accept that quantative easing leads to inflation - so we'll take it from there. The UK and US face the threat of inflation that comes from their quantative easing - agreed? Now, they either respond to that threat or they don't. Agreed? So, let's look at what happens if they respond to the threat of inflation - they increase interest rates. Now, we'll go no further, for the moment, than assuming the UK and US increase interest rates, in response to the threat of inflation coming from quantative easing, ok?

So, what does that increase in interest rates do to the value of their currencies - and by extension, the value of the Euro? Jusy answer that, don't leap ahead, and we'll move on from there - ok? So, if they increase interest rates, what happens to the value of their currency?

[jimmyfour]

Those two countries equate to more than 50% of our trade!!! They are not buying from us, because they cannot afford our products or services... It is basically "I want to buy from you due to your circumstances, but you are charging too much!" We cannot lower our prices properly due to euro membership

Just to correct some of this - making profits by relying on foreign exchange rates is a ludicrous system that doesn't work in the long term to build any stability - the product is useless and poorly made ********************, but sure aren't making 100% markup to sell turf to the Yanks - simply does not cut it anymore. We CAN lower prices by CHARGING LESS MONEY.

Our exports to the UK and US combined are around €31 Billion of a total of €86 billion. Therefore, around 36% of our exports go to the UK and US combined. For the record, officially, ~ 65% of German exports every year go to teh Eurozone.

Therefore, your argument is a bunch of nonsense. We are reliant on the US and UK about as much as Germany is. The problem is the poor quality of Irish-made goods that don't command a premium value, despite being priced as premium. We need to develop a high quality reputation.

[DaBrow]

"we"? Is this a reference to you and a few of your sad loser mates in the pub? "WE" (the Irish nation) have no interest in you or your nonsensical ideas. WE are not looking to leave the EU, and WE think that you are a loon.

If you want to leave the EU, that's fine, you'll find all you need here British Airways - Plan your journey (I picked out BA for you because I know that you grew up in England and you share a similar position on the EU to most of your fellow little Englanders....)

Dotski_W, why don't you just do yourself a favour and leave... Most people know that you are really a loyalist than an irishman whom has any love for his country or culture.

I grew up in England... Yet I was Born Here, to Irish Parents & Raised as an Irishman in Exile who is clearly more Irish than You!!!

I have more loyalty to my identity and country than you do... You claim to be a Socialist (a very bad one at most), but really you are nothing more than a Mass Immigrationist with an axe to grind and an all round vile character whom only just throws insults at people.

The fact that you would welcome any false asylum seeker or foreigner to this country over an irish Diasporan with genuine links to make them integrate successfuly to this place, shows how low on the scale of intelligence and humanity.

The fact that you obey the EU without question and support a currency which is crippling us, is the evidence that people need to show of your utter contempt & complete hatred toward this country being able to stand on her own two feet.

Your ignorance proceeds you, if you had even bothered to research aswell you'd find that leaving the EU would allow us benefits in the form of: Greater Soverignty Independence and no external Authority interference, Complete Control over Resources so that the Spanish can stop raiding our Fisheries, Tax Free Shopping AKA Duty Free etc.

If you bothered looking at the poll, you'll find that a currently sizeable minority favour leaving the euro and the external poll is 50% each way..... Because it is IP Protected and prevents repeat voting unlike the P.ie Poll.

Anti-EU Sentiment is also growing in Ireland given how we were bullied into ratifying the Treaty; ecual coverage for both sides didn't exist and voters were told to vote Yes or otherwise they would either lose their jobs, homes or livelihood... Eurocitizan even acknowledges that.


So leaving the euro is actually a very strong possibility; so far a minority want to leave and this will increase when the new year means more job losses due to no investment from abroad or irish exports.

P.S.

Didn't you realise that BA are on a 12 day strike? So you've just lost your money and gained nothing.

[DaBrow]

Just to correct some of this - making profits by relying on foreign exchange rates is a ludicrous system that doesn't work in the long term to build any stability - the product is useless and poorly made ********************, but sure aren't making 100% markup to sell turf to the Yanks - simply does not cut it anymore. We CAN lower prices by CHARGING LESS MONEY.

Our exports to the UK and US combined are around €31 Billion of a total of €86 billion. Therefore, around 36% of our exports go to the UK and US combined. For the record, officially, ~ 65% of German exports every year go to teh Eurozone.

Therefore, your argument is a bunch of nonsense. We are reliant on the US and UK about as much as Germany is. The problem is the poor quality of Irish-made goods that don't command a premium value, despite being priced as premium. We need to develop a high quality reputation.

Ireland Economy 2009, CIA World Factbook
Exports - partners:
UK 18.7%, US 17.9%, Belgium 14.5%, Germany 7.4%, France 5.8% (2007) <So out of this: 37% out of 64% is UK & US>

Ireland Economy
Major suppliers--Great Britain and Northern Ireland 31%, U.S. 11%, Germany 8%, China 7%, Japan 4%, France 3%, rest of the world (including other EU member states) 36%. < Non EU Trade accounts for 53% out of 100% with UK & US being the largest share>

https://www.cia.gov/library/publicat...k/geos/ei.html
Exports - partners:
Field info displayed for all countries in alpha order.
<UK 18.6%, US 18.6%, Belgium 14.7%, Germany 7%, France 5.9%, Spain 4.2%> So again, Non Eurozone nations make up the largest share of our trade.... 37% out of 69%


Just goes to show we trade more outside the Eurozone; than our EU Partners and we cannot survive when more than half our export markets are too expensive to sell to.

[jimmyfour]

Just goes to show we trade more outside the Eurozone; than our EU Partners and we cannot survive when more than half our export markets are too expensive to sell to.

I mentioned it in the first one or two lines - it is a ludicrous situation to be only able to profit due to currency exchanges. The fact that 1/3 of our trade is suffering simply due to currency fluctuations (which will not improve) means the goods were not worth it in the first place. If/when the Uk joins the eurozone, it won't suddenly go back to 60p to the euro. Your profit margin was entirely dependent on a larger and predominantly lower cost economy.

Adapt, or die. The world is not becoming more segregated.

[DaBrow]

I mentioned it in the first one or two lines - it is a ludicrous situation to be only able to profit due to currency exchanges. The fact that 1/3 of our trade is suffering simply due to currency fluctuations (which will not improve) means the goods were not worth it in the first place. If/when the Uk joins the eurozone, it won't suddenly go back to 60p to the euro. Your profit margin was entirely dependent on a larger and predominantly lower cost economy.

Adapt, or die. The world is not becoming more segregated.

Britain certainly won't join the euro, having the euro doesn't allow ourselves to adapt economically because we have no control over its value. If the UK joined the single currency, prices will roket like they did when we adopted it.

You'll have noticed that the products in punts did not translate into their value in euros after the conversion... A coffee for IR£2 was €3.00 instead of €2.54, businesses here made a killing by robbing people blind.


The fact you have admitted that means that we cannot continue using a currency that is killing us and preventing recovery, especially one we cannot control and doesn't represent our ecomomic situation.

[hiding behind a poster]

Still waiting for an answer here, DaBrow. So, you agree that quantative easing, once the extra money feeds into the economy, leads to inflation. Yes? As I said, we'll get to your other points later.

[FutureTaoiseach]

Fair play to George Lee on Saturday View for admitting the Euro needs to be reformed. I am vindicated once more.

[bugibba]

"P.S.

Didn't you realise that BA are on a 12 day strike? So you've just lost your money and gained nothing."

DaBrow, didn't you realise the BA strike was called off two days ago?

BBC News - British Airways union Unite to call new strike vote