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Thread: Joining the Euro "a Mistake"--Cooper

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    Default Joining the Euro "a Mistake"--Cooper

    A leading writer has come out today to argue that joining the Euro was a mistake as Sinn Féin astutely foresaw it would be.

    Without saying "I told you so" Sinn Féin was the only party to oppose Euro membership and many of the arguments that Sinn Féin used were dismissed at the time but have come to be seen as true by people such as Cooper.

    Basically we have given up our exchange rate--which prevents us from becoming competitive again without years of painful deflation. This one could take a long time folks and I am not happy at all about that despite Sinn Féin having been proven right. In the end as usual the least well off will suffer most from the downturn.

    Cooper argues here:

    http://www.timesonline.co.uk/tol/com...cle4406818.ece

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    Politics.ie Member Catalpa's Avatar
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    Default Re: Joining th Euro "a Mistake"--Cooper

    Quote Originally Posted by factual
    A leading writer has come out today to argue that joining the Euro was a mistake as Sinn Féin astutely foresaw it would be.

    Without saying "I told you so" Sinn Féin was the only party to oppose Euro membership and many of the arguments that Sinn Féin used were dismissed at the time but have come to be seen as true by people such as Cooper.

    Cooper argues here:

    http://www.timesonline.co.uk/tol/com...cle4406818.ece
    Signing away our ability to control our own finanial affairs was a mind boggling piece of stupidity.

    We seriously need to remake our relationship with Europe - as do the other smaller States.

    The EU has to go.

    Europa Conventus delenda est.

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    Default Re: Joining th Euro "a Mistake"--Cooper

    Far be it for me to argue with you Factual. However, the news article is lacking in real depth and scope. Yes, we are out of step with regard to the monetary cycle with the many of the main economies of Europe. And, yes, setting our own interest rates would give us a greater degree of economic control in the short term.

    The reality is that we are fundamentally tied to the Euro in so many ways now. The very stability of our economy is tied to the Euro. It's only perception but perception counts for alot when talking about currencies.

    Once into the Euro club, it is not so easy to leave it. Historical analysis is a fine thing but we have to look towards the future. US multinationals use their bases in Ireland due to the Euro as it makes it easier for them to trade within the Eurozone; a very lucrative market. Irish lead companies will have to adopt the same strategy. Like it or not, this is the reality. Then you have to think about commodity prices. How much would oil cost in punts, etc.? How much would the cost of borrowing be in the international markets using the punt? How much impact would a high inerest rate punt have on the value of existing assets?

    In short, the article is heavy on rhetoric and short on analysis.
    A society of sheep must in time beget a government of wolves. (B. de Jouvenel)

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    Default Re: Joining th Euro "a Mistake"--Cooper

    Quote Originally Posted by Catalpa
    Quote Originally Posted by factual
    A leading writer has come out today to argue that joining the Euro was a mistake as Sinn Féin astutely foresaw it would be.

    Without saying "I told you so" Sinn Féin was the only party to oppose Euro membership and many of the arguments that Sinn Féin used were dismissed at the time but have come to be seen as true by people such as Cooper.

    Cooper argues here:

    http://www.timesonline.co.uk/tol/com...cle4406818.ece
    Signing away our ability to control our own finanial affairs was a mind boggling piece of stupidity.

    We seriously need to remake our relationship with Europe - as do the other smaller States.

    The EU has to go.

    Europa Conventus delenda est.
    Rabid nationalism sounds even more ridiculous in Latin.
    'Hello. My name is Inigo Montoya. You killed my father. Prepare to die.'

    Inigo Montoya.

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    Politics.ie Member Catalpa's Avatar
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    Default Re: Joining th Euro "a Mistake"--Cooper

    Quote Originally Posted by Leftfemme22
    Quote Originally Posted by Catalpa
    Quote Originally Posted by factual
    A leading writer has come out today to argue that joining the Euro was a mistake as Sinn Féin astutely foresaw it would be.

    Without saying "I told you so" Sinn Féin was the only party to oppose Euro membership and many of the arguments that Sinn Féin used were dismissed at the time but have come to be seen as true by people such as Cooper.

    Cooper argues here:

    http://www.timesonline.co.uk/tol/com...cle4406818.ece
    Signing away our ability to control our own finanial affairs was a mind boggling piece of stupidity.

    We seriously need to remake our relationship with Europe - as do the other smaller States.

    The EU has to go.

    Europa Conventus delenda est.
    Rabid nationalism sounds even more ridiculous in Latin.
    Rabid Internationalism sound stupid in any language!

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    Default Re: Joining th Euro "a Mistake"--Cooper

    Quote Originally Posted by Catalpa
    Quote Originally Posted by Leftfemme22
    Quote Originally Posted by Catalpa
    Quote Originally Posted by factual
    A leading writer has come out today to argue that joining the Euro was a mistake as Sinn Féin astutely foresaw it would be.

    Without saying "I told you so" Sinn Féin was the only party to oppose Euro membership and many of the arguments that Sinn Féin used were dismissed at the time but have come to be seen as true by people such as Cooper.

    Cooper argues here:

    http://www.timesonline.co.uk/tol/com...cle4406818.ece
    Signing away our ability to control our own finanial affairs was a mind boggling piece of stupidity.

    We seriously need to remake our relationship with Europe - as do the other smaller States.

    The EU has to go.

    Europa Conventus delenda est.
    Rabid nationalism sounds even more ridiculous in Latin.
    Rabid Internationalism sound stupid in any language!
    My, thats some deep dark hole you must live in.

    Do you not think it somewhat silly that a noted xenophobe like you would try to reinforce your idea by using a foreign language? One which oddly enough was a symbol of internationalism at its worst?
    'Hello. My name is Inigo Montoya. You killed my father. Prepare to die.'

    Inigo Montoya.

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    Default Re: Joining th Euro "a Mistake"--Cooper

    Another or these constantly repeated threads. I suppose superficial-journalism has a lot to answer for.

    Plenty of stuff to trawl through on this here Time to reinstate the punt?
    We are "they"

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    Politics.ie Member Catalpa's Avatar
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    Default Re: Joining th Euro "a Mistake"--Cooper

    Quote Originally Posted by Leftfemme22
    Quote Originally Posted by Catalpa
    Quote Originally Posted by Leftfemme22
    Quote Originally Posted by Catalpa
    Quote Originally Posted by factual
    A leading writer has come out today to argue that joining the Euro was a mistake as Sinn Féin astutely foresaw it would be.

    Without saying "I told you so" Sinn Féin was the only party to oppose Euro membership and many of the arguments that Sinn Féin used were dismissed at the time but have come to be seen as true by people such as Cooper.

    Cooper argues here:

    http://www.timesonline.co.uk/tol/com...cle4406818.ece
    Signing away our ability to control our own finanial affairs was a mind boggling piece of stupidity.

    We seriously need to remake our relationship with Europe - as do the other smaller States.

    The EU has to go.

    Europa Conventus delenda est.
    Rabid nationalism sounds even more ridiculous in Latin.
    Rabid Internationalism sound stupid in any language!
    My, thats some deep dark hole you must live in.

    Do you not think it somewhat silly that a noted xenophobe like you would try to reinforce your idea by using a foreign language? One which oddly enough was a symbol of internationalism at its worst?
    How is Latin a 'foreign' langauge to the Irish in a way that the English language is not? - it was used here for centuries before English was.

    Do you actually know what a xenophobe is?

    I think not.

    Thats some deep dark hole you must live in.

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    Default Re: Joining th Euro "a Mistake"--Cooper

    Unfortunately Matt is hitting the wrong target here. The Euro of itself is not the problem, the problem is the failure of government to use fiscal policy in a way that complements the prevailing monetary policy rather than acts totally contrary to it. In short, as low ECB interest rates and an export accommodating exchange rate were aggressively over stimulating the economy not only should the government have not have been adding fuel to the fire with massive increases in public spending and cuts in taxation they should have increasing taxation and reigning in spending.

    The economic failure we are now experiencing is a failure of economic management over the past decade. Not the Euro pre se.

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    Default Re: Joining th Euro "a Mistake"--Cooper

    [quote=Catalpa]
    Quote Originally Posted by Leftfemme22
    Quote Originally Posted by Catalpa
    Quote Originally Posted by Leftfemme22
    Quote Originally Posted by Catalpa
    Quote Originally Posted by "factual":2w3paj36
    A leading writer has come out today to argue that joining the Euro was a mistake as Sinn Féin astutely foresaw it would be.

    Without saying "I told you so" Sinn Féin was the only party to oppose Euro membership and many of the arguments that Sinn Féin used were dismissed at the time but have come to be seen as true by people such as Cooper.

    Cooper argues here:

    http://www.timesonline.co.uk/tol/com...cle4406818.ece
    Signing away our ability to control our own finanial affairs was a mind boggling piece of stupidity.

    We seriously need to remake our relationship with Europe - as do the other smaller States.

    The EU has to go.

    Europa Conventus delenda est.
    Rabid nationalism sounds even more ridiculous in Latin.
    Rabid Internationalism sound stupid in any language!
    My, thats some deep dark hole you must live in.

    Do you not think it somewhat silly that a noted xenophobe like you would try to reinforce your idea by using a foreign language? One which oddly enough was a symbol of internationalism at its worst?
    How is Latin a 'foreign' langauge to the Irish in a way that the English language is not? - it was used here for centuries before English was.

    Do you actually know what a xenophobe is?

    I think not.

    Thats some deep dark hole you must live in. [/quote:2w3paj36]

    Christ almighty, well then post in Irish and in Irish only.

    The only people to use Latin here where the clergy, no-one else apart from a few elites where fluent, unlike English which is (like it of not) the tongue of the common man here.

    Xenophobe: A person unduly fearful or contemptuous of that which is foreign, especially of strangers or foreign peoples.


    i.e You. Your posting track record is more than enough to highlight that obvious fact.
    'Hello. My name is Inigo Montoya. You killed my father. Prepare to die.'

    Inigo Montoya.

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