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, bifurcation.

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.

"This would clearly be disastrous for Ireland, as our reliance on imports will be punishing if we have a worthless redenominated Punt" Will it be feck as like! Peg the Punt to Sterling and trade with them instead of the frogs & krauts! The UK is our biggest trading partner anyway!

Originally Posted by zeleneye

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.

Might not be as disasterous as we fear, at least we would save money by throwing all those EU numpties out of jobs and wouldn't it be nice to tell Berlin and Paris, sod off we aint paying?

Originally Posted by Aindriu

"This would clearly be disastrous for Ireland, as our reliance on imports will be punishing if we have a worthless redenominated Punt" Will it be feck as like! Peg the Punt to Sterling and trade with them instead of the frogs & krauts! The UK is our biggest trading partner anyway!

Followed by the US, so it would make better sense for us to have our own currency and peg it to Sterling.

EuroIntelligence is a great example of an oxymoron.

Originally Posted by Aindriu

"This would clearly be disastrous for Ireland, as our reliance on imports will be punishing if we have a worthless redenominated Punt" Will it be feck as like! Peg the Punt to Sterling and trade with them instead of the frogs & krauts! The UK is our biggest trading partner anyway!

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.

Does this mean all them Euro that are under the bed will finally see the light of day?

I just got an inexplicable sense of relief when i read the OP.

Originally Posted by Mackers

Does this mean all them Euro that are under the bed will finally see the light of day?

Yes of course, my 2.50euro will finally be able to buy me two penny sweets

Zeleneye, sterling will NOT be screwed when the Euro goes pop! You really need to read some good books on economics instead of believing all the shyte our EU masters and national political classes want you to believe.