Danish primminister Anders Fogh Rasmussen's dream of reversing denmark's maastrict opt-outs (and getting himself a plum job in brussels) seems to be fading as support for ditching the krona has slipped to a medium term low of 42%.
So danes dont believe the euro is the sanctuary that our europhiles tell us and believe small countries can work with their own currency.
EUobserver - see breaking news on the right side of the page.
If we left the Euro we'd be bankrupt within 24 hours, and would no longer be a developed country within a week. Simple as.Originally Posted by eurosceptic
"Elite - a small superior group; esp one that has a power out of proportion to its size." (Oxford English Dictionary)
The majority cannot therefore be the elite.
Well credit where credit is due - Eurosceptic has actually broken the habit of a lifetime and actually read the link he is quoting!
Yes support for joining the euro has slipped 9% to 42% in the last 2 months in Denmark
As you can see - the end of Ireland participation in the eurozone can be predicted with absolute certainty in that one sentence.
ES - go back to work will ya and stop wasting everybody's time - you are such a one-trick pony nobody takes you seriously around here anymore.
That is exactly the message the pro-euro lobby have been pushing in denmark.
How is it that simple hpab please explain how we cease to be a developed country within 7 days? I am a pragmatist, make a clear arguement how this will happen and i will bite my lip and tolerate the euro.
I never said it would be easy or simple to do. Just that it is possible and it would give us more levers to fight our recession. Currently we fight it with one hand ties behind our backs as we dont have a monetary policy.
I have said many time sthat i am prepared to tolerate the euro if there is compelling arguements to made for remaining inside. There are plenty of small country's with their own currencies that are doing a hell of a lot better than we are and a hell of alot better than many eurozone countries.
Examples?
..
"Who will bailout the IMF after FF is finished with them?"
ES you fail to mention that 42% of danes also favour euro adoption
you also fail to mention that Denmark is in the ERM structure and is pegged to the euro
(and always has been)
Also there is a massive difference between joining the euro and leaving it and floating a new currency
"We know what to do, we just dont know how to get elected afterwards" Jean-Claude Juncker on how to fix the European economy
In fairness, the question of if it was a good idea to join the Euro is separate from the question of leaving the Euro.
Once we joined, all mortgages and debts were switched to Euros. Leaving the Euro would require convincing creditors to redenominate their debts in Punts. There is no reason for them to do that if the plan is to devalue the Punt at the earliest possible moment.
Surely our membership of the euro is having an entirely negative impact on the already on its knees Irish economy. Its not good at all? Look at it this way, did our membership cause Dell et al to pause before pulling out? Not in the slightest. Did it cause foreign investors to pause before they fled out of the Irish stock exchange? No, not at all, they have crashed the Irish stock exchange and being in the euro has helped stem the tide not one little bit.
On the other hand has the negative aspects of being in the euro being mentioned as companies close down etc.? Absolutely, one the main reasons why Waterford Crystal went bust ( Waterford Today - Waterford Crystal downsizing moves beyond speculation ), causing large scale layoffs in Superquinn, Easons, Tesco ( Ironic twist of fate as customers flock to closing supermarket - News, frontpage - Argus.ie ) and threatening to cause retail and exporting meltown all across Ireland, to quote finance magazine:
Also it doesn't give us any sort of confidence on international financial markets because they can see we are going down the tubes despite, and in the case of the current currency movements because, we are in the euro. They are not as clueless about economics as unfortunately as some Irish people are! This is from a document prepared by the Czech Central Bank:"With the Irish economy already on its knees the euro’s relative strength against sterling is a further hit to Irish competitiveness with nearly half of all exports from Irish-owned firms headed to the UK.
.....
According to John Coffey at BNP Paribas says, ‘The current GBP weakness is disastrous for the Irish economy, which is already on its knees following the collapse of our property bubble & it’s ripple effect throughout the economy.’"
( Finance-Magazine.com - Forex pressure on Irish firms: euro sterling exchange rate outlook 2009 )
The very thing thats killing us people are clinging to like drowning rats! This is beginning to resemble not so much a Lisbon but rather a Stockholm Syndrome !"Has the single currency been helpful in resolving the 2008 financial crisis? Is Euro a shield for Europe against the external shock?
The marcoeconoic situations in Hungary, Iceland or Belgium have shown that countries and their financial markets have been suffering from crisis no matter if they are members of the Euro zone or not." ( 403 - Forbidden - ?eská národní banka )
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