iceland/ireland

[incredulous101]

Difference between Ireland and Iceland?

One letter and six months (though the latter may be shorter as we learn more of Irish banks)

[Guinnesslad]

We're not Iceland, we'll have a hard recession, but we're no Iceland.

[smitchy2]

We are not Iceland as we belong to a relatively stable international currency.
If we had the punt we would have been the same plus worse (construction).
We will be the worst performing economy in the OECD just behind Iceland over the next few years.

[ibis]

We're not Iceland, we'll have a hard recession, but we're no Iceland.

Of course we're nothing like Iceland - they own all their own fish and their own currency, have complete control over fiscal policy, and don't have to put up with the meddling of the eurocrats.

No, wait, someone's handed me an old script here.

[meriwether2]

Of course we're nothing like Iceland - they own all their own fish and their own currency, have complete control over fiscal policy, and don't have to put up with the meddling of the eurocrats.

No, wait, someone's handed me an old script here.

Aah, the old 'they stole our fish' argument.

That was a classic.

[bradán feasa]

Iceland has a population of 300,000 the south of Ireland has a pop of 4,000,000. We are closer to Norway, Sweden and Denmark, all of whom are still above water with their own currencies.

What is the effect of euro membership vis a vis Iceland.

Pro
The euro gives us way more stability

Con
Since we have no say on our own interest rates or exchange rates the euro may strangle our ability to export to England and the US while trashing retail within 60 miles of the border.

[edifice.]

Of course we're nothing like Iceland - they own all their own fish and their own currency, have complete control over fiscal policy, and don't have to put up with the meddling of the eurocrats.

No, wait, someone's handed me an old script here.

And not a mention of bad banking practices. The new script eh?

[Big Bobo]

The problem with Iceland started when it deregulated its banking sector in 2000 and began practices which deliberately over valued their currency so that cheap properties could be purchased abroad. The idea that this happened to Iceland because its a small country with its own currency is ridiculous. It happened because of the free market policies their government followed.

[forest]

Iceland has a population of 300,000 the south of Ireland has a pop of 4,000,000. We are closer to Norway, Sweden and Denmark, all of whom are still above water with their own currencies.

What is the effect of euro membership vis a vis Iceland.

Pro
The euro gives us way more stability

Con
Since we have no say on our own interest rates or exchange rates the euro may strangle our ability to export to England and the US while trashing retail within 60 miles of the border.

The danish currency is pegged to the euro, They are members of the EMU so in reality they dont control their currency

[draiocht23]

We're not Iceland, we'll have a hard recession, but we're no Iceland.

Yeah, I think it's colder here.