From today's Irish Independent*.
Sweet. The Euro worked fine during the NICE decade, but now the wheels are starting fall off. Presumably Spain will be next.
* Via Little Professor at HPC.
What have we wrought in the UK?
2 hours ago
Wednesday, 16 July 2008
"If all else fails, then maybe it's time to ditch the euro"
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3 comments:
No jokes about letting Spain and Ireland join the Sterlingzone, please. Maybe we should join the Goldzone. Oh bugger, we can't. Gordon sold our gold for tuppence-ha'penny.
Problem is that if you introduce your new/old currency for the specific reason of letting its value fall by lowering interest rates it will indeed fall.
From the Irish Independent:
"it's time to replace catchphrases with hard thinking."
That will be NuLabours epitaph.
Isn't this exactley the scenario that all the fools predicted and the wise men said would never happen?
I can't see the EU letting Ireland or Spain getting to the point wherethey are even seriously considering a pull out, it would kill their beloved project. Expect some policy changes and hidden fiscal transfers to help them out. This is, of course, what should happen to Newcastle, for example, which also can't do anything about its currency. Except the EU will use it as a bribe to get further "ever closer union".
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