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About LinkBacksI laugh out loud everytime i hear one of those clowns saying Ireland is at the heart of europe, you ask a few random italians or french people about ireland they would say we are a backwater part of the uk.Originally Posted by MPB
I laugh out loud everytime i hear one of those clowns saying Ireland is at the heart of europe, you ask a few random italians or french people about ireland they would say we are a backwater part of the uk.
We would not be in the situation we are today. When we along with all other eurozone countries joined the euro we gave up our monetary sovereignty. Now, once a state borrows in a foreign currency it opens itself up to default at a later date, all eurozone countries borrow in a foreign currency. Why, because the state has to borrow from the private markets to acquire euros. The state in fact surrended its monopoly on its currency.
If you compare Britain, US, Switzerland to eurozone countries, they are in fact currency issuers. They issue their own freely floating non-convertible currencies and the private sectors are users of that currency. Eurozone countries are users of the currency similar to the states in the US which are also users of the currency. A sovereign state cannot become insolvent with respect to obligations in its own currency, it can always service its debt. For political reasons it can choose to default but that would never be forced by the markets. In fact in the US constitution it is against the law for the state to default on its obligations.
This is why the US and UK/Japan have record low yields on their debt even though they have higher debt levels than the PIIGS. They are sovereign and risk free once they don't have large debts in foreign currencies.
The euro is a stateless currency and will not last unless we have a European Government. The PIIGS may be in trouble now, but wait till you see what is going to happen to Germany when they try to balance their budget according to their constitution. Don't listen to politicians of any persuation on money matters, they are just as ignorant as the financial pundits/economists on money/credit. They could never see this crisis occuring and they still don't understand it. All this talk in Ireland about the banks/developers/politicians is just a side show, it had to be this way because it was created to be this way.
Our economic disaster is 100% the fault of incompetents and corrupts like Bertie, McCreevy, Cowen and Lenihan. To believe otherwise is to fall for their disgraceful spin and utter lies. We were warned by the EU when it was very easy to change things, our idiot incapable moron monkey politicians did not listen. We have a minister for finance who is the subject of disparaging monkey calls from financiers and rightly so -the man hasnt a clue. And our biggest selling national newspaper thinks an international joke like Lenihan should be taoiseach. Ah sure aren't we great, its all Lehmans brothers fault/the EU etc our politicians are great really, no fault of our own at all at all . Anyone who blames the EU for our current troubles is a total fool. We elected incompetent morons, the EU had nothing to do with it.
Absolute nonsense JCR, obviously in the opposition, I am an open minded accountant with no party affiliation what so ever who is feeling the pinch of the recession. I am optimistic of the future of this country and the policies the current government have and will implement,
it is well and good to lambast the government over the country's current state of affairs ecconomically, but every other country is in the same dilemma, the government have taken the right decisions to steady the ship and reduce the deficit which will take each and everyone of us to tighten our belts, the recession was global and caused by one banking institution which was rightly pointed out earlier, the EU is key to Ireland and its future it gives people and business's oppertunities to travel and trade with over 500million people and it would be ridiculous to ever leave it
That's right Ringo. They're all being run by crooks. All talk of "opposition" is a fiction, they're all the same political class and they have nothing but contempt for us. From the Anglosphere to Europe and the BRIC bloc we're getting ridden by crooks. If you doubt it here are some world class economists and trends forecasters.
[ame=http://www.youtube.com/watch?v=3pwAFohWBL4]YouTube - Six Minutes with the Renegade Economist - Michael Hudson Special...[/ame]
[ame=http://www.youtube.com/watch?v=EBbgVZz7_YM]YouTube - Keiser Report[/ame]
Audio: Gerald Celente on The Last Word
Finally here's a man singing a song about his daddy to a crowd of cheering eejits.
[ame=http://www.youtube.com/watch?v=-j8F-9nmZ5I]YouTube - An Taoiseach Brian Cowen Singing[/ame]
In my humble opinion, we would be heaps better if we had never joined the Euro.
Cheers,
Harry
There would have been no Celtic Tiger, no housing bubble and less inward investment. Personally I believe the Euro is a joke currency with no state to back it. However, it was not joining the Euro per se that has landed Ireland with the mess it is currently in but the politicians who failed to regulate the Irish economy during the 'boom' times. Whilst interest rates were at a record low, taxes were too low as well and the economic balance was lost. Politicians rode the wave of cheap credit as some sort of economic miracle when instead it was just a credit binge. If the economy had been properly taxed and managed then Ireland would have had a much smoother albeit smaller growth period. The politicans were not brave enough (or were too thick too see) to tackle the balance issue. It is too late now to leave. The only source of income that Ireland has is the ECB. Without this life support, Ireland dies. My personal view is that Ireland should never have abandoned the Punt as the Euro is a joke currency but hey, it's easy in hindsight.
I've alway's believed this also. Many people are finally waking up to the fact that it was and is a huge mistake. We have lost our right as a nation to control our own affairs.
EXACTLY my friend !!!!!
I've said this before years ago, probably on this very thread...
What could happen is...
France, Germany and a few other countries leave the euro and set up a new euro. This would leave the euro to its fate.
Of course it would have to happen overnight, but that could be done.
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