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Weak euro good for Ireland?

  • 19-05-2010 1:05pm
    #1
    Mr Simpson
    Closed Accounts Posts: 7,332 ✭✭✭


    Is the weak euro a good thing for Ireland? I'm only looking at it from one aspect but surely a weak euro is great for our export market, and will hopefully encourage more tourists from outside the EU to visit. Just my two cents.


Comments

  • #2
    Time Magazine
    Registered Users, Registered Users 2 Posts: 8,452 ✭✭✭Time Magazine


    Depends on what you see as "good for Ireland". It's now more expensive to buy American goods, which isn't good for the consumer.


  • #3
    Flamed Diving
    Closed Accounts Posts: 6,609 ✭✭✭Flamed Diving


    Also increases costs for companies that need to import materials from outside the EU.


  • #4
    Mr Simpson
    Closed Accounts Posts: 7,332 ✭✭✭Mr Simpson


    True, hadn't really thought about it that way.


  • #5
    chave
    Registered Users, Registered Users 2 Posts: 142 ✭✭chave


    I think it depends on the country. Short term all euro area countries get a boost. But in the long run the competitive edge gained by the devaluation would probably be gone through inflation and the higher wages that comes from that. But it depends on the level of Imp/Exp initially. If you import loads the inflation will hurt more.


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