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Would we recover quicker if we had kept the £IRE?

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    #32
    RealityCheck
    Closed Accounts Posts: 695 ✭✭✭RealityCheck


    ei.sdraob wrote: »
    hes wrong all he has to do is remember his trip to Iceland

    not being in the EU/euro didnt stop them creating a big mess

    I think you hit the nail on the head. Our problems are not as a result of circumstance but of massive economic mismanagement of a disastrous scale. With the example of Iceland it is obvious that with FF in charge we would have been led down the same disastrous road of debt regardless. The book really stops with us, not europe or the EMU.

    ei.sdraob wrote: »
    we dont have to leave the EU to leave the euro

    but as was mentioned over and over in the leave the euro threads


    1. there will be a run on the new currency as it would take months to changeover, causing businesses hardship

    2. this hasn't been done before

    3. most of the debt will remain in euro



    and to answer the OP

    no we would not have recovered quickly, look at UK they kept their currency and while the rest of larger Eurozone members are out of recession, they are not and are still printing money to no avail

    Very true. The mess we have made is so extraordinary that we cannot take the chance of going it alone. We need all the help we can get from within the eurozone.


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    #33
    ei.sdraob
    Closed Accounts Posts: 9,376 ✭✭✭ei.sdraob


    also wanted to add that blaming low interest rates is crazy, UKs and USs rates were much lower
    there was a flood of money post 2001 slushing around the world, being on our own wouldn't have made a difference (as can be seen on other countries)

    hell if we kept the pound we would have been in much worse state, take the example of eastern european countries who borrowed heavily and have to pay back in euros (not their currency)


    finally we need to note that a wall of money was created after dot com / sept11
    in the last year an even larger amount of money was created and is now chasing investments around the world, leading huge rises again in commodities, gold you name and creating a mother of all bubbles that will pop even louder in few years again, hell they are having a property boom from afganistan to australia now, and then theres a crazy property and stock bubble in developing in china



    finally to sum up:
    whether we used £ or € or $ or seashells

    its wouldn't have made a bit of difference since the cause of our issues are greed of the population and absolute incompetence of the government

    now what currency we use or what the rates are, these are small variables compared to the sheer stupidity that took over the nation


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    #34
    Daragh101
    Closed Accounts Posts: 585 ✭✭✭Daragh101


    ei.sdraob wrote: »
    we dont have to leave the EU to leave the euro

    but as was mentioned over and over in the leave the euro threads


    1. there will be a run on the new currency as it would take months to changeover, causing businesses hardship

    2. this hasn't been done before

    3. most of the debt will remain in euro



    and to answer the OP

    no we would not have recovered quickly, look at UK they kept their currency and while the rest of larger Eurozone members are out of recession, they are not and are still printing money to no avail



    ya but its out of the question anyway because the eu are backing up the the money that is going to be given to the banks !


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