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Thread: The euro has ruined Irish competitiveness and is seriously damaging the economy

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    Politics.ie Member Big Bobo's Avatar
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    Default The euro has ruined Irish competitiveness and is seriously damaging the economy

    It's suprising that it takes a communist to say this but because the capitalists have their head so far up the EU's hole I am forced to. How can we expect British and Americans or anyone else to buy our goods and services when our curency is completely over-valued? From a purely capitalist point of view the situation is a disaster as investment in Ireland will only take place if the returns will be higher than other countries. With costs so high here, partly because of the euro, investment will go elsewhere. We here in Ireland don't even receive the benifits of a strong currency. While imports are cheaper the benifit is never passed on to the ordinary Irish worker. The Irish gombeen man and corrupt business class ensures this. A barrell of oil today is only €32 yet Irish people have some of the highest energy prices in the world. ESB went up by 17.5% recently. I really fail to see what the benifits of the euro are. If we had the punt we could devalue it. And please no one give me the Iceland crap as it is a very different scenario.

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    Factual: I don't mean to say "I told you so" but i should remind you that Sinn Fein were the only "mainstream" political party to oppose the introduction of the Euro...
    Happiness is a dry martini and a good woman … or a bad woman.
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    Politics.ie Member Big Bobo's Avatar
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    Quote Originally Posted by CookieMonster View Post
    Factual: I don't mean to say "I told you so" but i should remind you that Sinn Fein were the only "mainstream" political party to oppose the introduction of the Euro...
    The propaganda that the euro has been good for Ireland must be addressed. We do not see the benifits of cheaper imports only the bellies of the gombeen men get fatter.

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    Quote Originally Posted by Big Bobo View Post
    It's suprising that it takes a communist to say this but because the capitalists have their head so far up the EU's hole I am forced to. How can we expect British and Americans or anyone else to buy our goods and services when our curency is completely over-valued? From a purely capitalist point of view the situation is a disaster as investment in Ireland will only take place if the returns will be higher than other countries. With costs so high here, partly because of the euro, investment will go elsewhere. We here in Ireland don't even receive the benifits of a strong currency. While imports are cheaper the benifit is never passed on to the ordinary Irish worker. The Irish gombeen man and corrupt business class ensures this. A barrell of oil today is only €32 yet Irish people have some of the highest energy prices in the world. ESB went up by 17.5% recently. I really fail to see what the benifits of the euro are. If we had the punt we could devalue it. And please no one give me the Iceland crap as it is a very different scenario.
    Or the evil capitalists could slash workers' wages...

    Why is the Icelandic scenario such a different kettle of fish?

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    Quote Originally Posted by Big Bobo View Post
    It's suprising that it takes a communist to say this but because the capitalists have their head so far up the EU's hole I am forced to. How can we expect British and Americans or anyone else to buy our goods and services when our curency is completely over-valued? From a purely capitalist point of view the situation is a disaster as investment in Ireland will only take place if the returns will be higher than other countries. With costs so high here, partly because of the euro, investment will go elsewhere. We here in Ireland don't even receive the benifits of a strong currency. While imports are cheaper the benifit is never passed on to the ordinary Irish worker. The Irish gombeen man and corrupt business class ensures this. A barrell of oil today is only €32 yet Irish people have some of the highest energy prices in the world. ESB went up by 17.5% recently. I really fail to see what the benifits of the euro are. If we had the punt we could devalue it. And please no one give me the Iceland crap as it is a very different scenario.
    Yes. They stayed out of the Euro. That worked really well...

    Tell me, why are costs in the non traded economy so high because of the Euro. Remember, its non-traded. And, given that 40% of exports and imports are in Euro zone, why are they too facing problems (costs). Would you really like 19% interest rates to suport the punt in a deflation?

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    Quote Originally Posted by Big Bobo View Post
    The Irish gombeen man and corrupt business class ensures this.
    And until we purge the country of that cancer, then discussions on which currency we should use are, IMO, utterly pointless. It doesn't matter whether we kept the punt or joined the euro, whether we have too much or too little FDI, what sectors of the economy we should encourage, whether public sector workers have far too cushty a ride....none of that actually matters, because the gombeen parasite arse-backways interconnected and inbred class of moronic greedy piggies in charge (all across politics, the media, business & the unions) would have f***ed it up anyway.

    Do your patriotic duty - punch a gombeen in the face today, then tell him to get the f*** off the island before you set him alight. It's the only way.
    Je suis un loo-lah

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    Politics.ie Member Big Bobo's Avatar
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    Quote Originally Posted by jfk2008 View Post
    Or the evil capitalists could slash workers' wages...

    Why is the Icelandic scenario such a different kettle of fish?
    Would cutting wages of workers increase their propensity to consume goods and services south of the border.

    Speculation on currency never existed in Ireland like it did in Iceland. Irish banks never opperated abroad like Icelandic ones. Their whole currency was a pyramid scheme. High interest rates in Icelandic banks led to huge deposits internationally which led to dodgey investments worldwide until it collapsed. Completely different scenario to our own housing bubble. In fact a weak currency would be good for the Irish economy right now. It is terrible for Iceland however.

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    I think this is really just a a front for him having a go at the "stupid greedy capitalists" or whatever... the contradictions in the first post alone sent me off out for a cigarette.
    Happiness is a dry martini and a good woman … or a bad woman.
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    Politics.ie Member Big Bobo's Avatar
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    Quote Originally Posted by BodyofEvidence View Post
    Yes. They stayed out of the Euro. That worked really well...

    Tell me, why are costs in the non traded economy so high because of the Euro. Remember, its non-traded. And, given that 40% of exports and imports are in Euro zone, why are they too facing problems (costs). Would you really like 19% interest rates to suport the punt in a deflation?
    Yes I would like high interest rates. Banks should be nationalised and offer double digit interest rates. This would attract foreign investment deposits which our publicly banks owned would then invest in research and development, manufacturing and reorganising our agri-business.

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    Politics.ie Member Big Bobo's Avatar
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    Quote Originally Posted by CookieMonster View Post
    I think this is really just a a front for him having a go at the "stupid greedy capitalists" or whatever... the contradictions in the first post alone sent me off out for a cigarette.
    Well you could argue there are contradictions. However the real contradictions are from the Irish business class who hit out at a lack of international competitiveness yet worship the EU and the euro.

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