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  1. #21
    Tuogid Tuogid is offline

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    Quote Originally Posted by hiding behind a poster View Post
    And what resources would we use to beg the Punt to Sterling, grass? Clearly you haven't a clue what pegging a currency actually involves.
    We produce enough food to feed 36 million people. We have a well educated English speaking workforce. Fairly modern infrastructure.

    Ireland is a good bet.
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  2. #22
    parentheses parentheses is offline

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    Quote Originally Posted by Clanrickard View Post
    That OP has made my morning. Doubt it is true but just the thought makes me smile.

    Have you got cloth in your ears? It was on RTE radio this morning, France and Germany discussing plan b, a scenario in which certain countries leave the euro!
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  3. #23
    Mister men Mister men is offline
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    Quote Originally Posted by olli rehn View Post
    More rumors and bullsh it....
    A plan like that needs major treaty changes first. Requires referenda and parliament votes all over the EU.I cannot see that at all.
    Democracy is dead in Europe have'nt you being watching the news these last few weeks.
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  4. #24
    richie268 richie268 is offline
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    Quote Originally Posted by zeleneye View Post
    A chilling article in EuroIntelligence this morning claims that the Euro zone will split up in a matter of days and that officials in France and Germany are preparing the way for this, what they call, biturcation.

    EuroIntelligence is subscriber-based, so I can't link, but here is a quote:

    "We have now reached the bifurcation point in the crisis where the eurozone will, within days, have to make a choice between debt monetisation, which is hardly feasible without a political commitment to a fiscal union, and a break-up. The latter will happen if no decision is taken.

    Reuters reports, citing unnamed EU sources, that French and German officials have been discussing a radical systems change, involving a smaller and more integrated eurozone."

    This would clearly be disastrous for Ireland, as our reliance on imports will be punishing if we have a worthless redenominated Punt. EuroIntelligence also claims that this ringfencing of the core will also lead to the collapse of the entire European financial system though.
    One has have to love the wording, I once heard of the term urinary bifurcation and was wondering when bifurcation is juxtaposed with the Euro does that mean some Countries will be pissing and other countries getting pissed on?
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  5. #25
    Aindriu Aindriu is offline
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    HBAP, I know a damn sight more than you do! Crawl back under your FF rock.
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  6. #26
    Tuogid Tuogid is offline

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    Quote Originally Posted by hiding behind a poster View Post
    Another poster who hasn't got a clue what pegging a currency actually entails.
    So when the Euro fails do you suggest we do not bother using any currency? We just barter ?
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  7. #27
    hiding behind a poster hiding behind a poster is offline

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    Quote Originally Posted by zeleneye View Post
    You seem to be living in some kind of economically illiterate utopia. (a) If we are turfed out of the Euro, the government will have to redenominate into a debased Punt before any pegging can take place. (b) While a debased Punt might be good for our exports (or rather the exports produced by multinationals that are based here, assuming they would stay), it would be disastrous for our purchasing power of the imports on which our country relies on a day-to-day basis, for example in the energy sector. Furthermore - vis pegging to Sterling - if the Euro goes belly up, English banks will also be shafted. It will be bean can time.

    Either way, the scenario that some of the wingnuts on p.ie have been wishing for could soon come true...then we'll see if your desire to leave the Euro was well judged.
    It wouldn't actually be good for our exports either - as they all, either directly or indirectly, rely on imports in some way. Even a completely Irish-produced product like butter, for example, still requires diesel in trucks to get it to the ports for export. And all the people who produce our exports also consume lots of imports that we can't make here, like oil-based products, TVs, cars, even imported entartainment like CDs and DVDs, and so on. The IR£ price of everything would thus rocket, meaning higher wages would be required for everyone - thus destroying any initial competitive advantage gained by the export sector, as those higher wage and energy costs feed rapidly into overall costs.
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  8. #28
    hiding behind a poster hiding behind a poster is offline

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    Quote Originally Posted by Tuogid View Post
    So when the Euro fails do you suggest we do not bother using any currency? We just barter ?
    Do you understand what pegging a currency actually entails?
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  9. #29
    hiding behind a poster hiding behind a poster is offline

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    Quote Originally Posted by Aindriu View Post
    HBAP, I know a damn sight more than you do! Crawl back under your FF rock.
    Firstly, I'm not FF, and secondly, you clearly haven't a clue what pegging a currency actually entails.
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  10. #30
    hiding behind a poster hiding behind a poster is offline

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    Quote Originally Posted by Tuogid View Post
    We produce enough food to feed 36 million people. We have a well educated English speaking workforce. Fairly modern infrastructure.

    Ireland is a good bet.
    Tell me how you think we would peg our currency to another, and what that would entail.
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