• Due to a glitch in the old vBulletin software, some users were "banned" when they tried to change their passwords at the end of February. This does not apply after the site was converted to Xenforo. If you were affected by this, please us viua the Contact us link in the footer.

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


Big Bobo

Active member
Joined
Oct 3, 2008
Messages
169
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.
 


CookieMonster

Well-known member
Joined
Feb 19, 2005
Messages
34,712
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...
 

Big Bobo

Active member
Joined
Oct 3, 2008
Messages
169
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.
 

jfk2008

Active member
Joined
Sep 10, 2008
Messages
157
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?
 

blucey

Well-known member
Joined
Jan 4, 2007
Messages
366
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?
 

Sidewinder

Well-known member
Joined
Oct 23, 2004
Messages
442
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.
 

Big Bobo

Active member
Joined
Oct 3, 2008
Messages
169
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.
 

CookieMonster

Well-known member
Joined
Feb 19, 2005
Messages
34,712
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.
 

Big Bobo

Active member
Joined
Oct 3, 2008
Messages
169
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.
 

Big Bobo

Active member
Joined
Oct 3, 2008
Messages
169
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.
 

DaBrow

Well-known member
Joined
Jan 23, 2008
Messages
416
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.

I can confirm that your concern is being addressed in greece complaining that the euro has created problems, signing upto the euro has meant that the Greeks can't amend their prices and remain competitive.


I must say that for Irish people living in Britain and wanting to payoff their mortgages for homes in ireland, the exchange rate is really hitting them hard like my family.

It won't be too soon when the favourable rate for the euro against the pound will create backlash, because holidaymakers will avoid the contient due to everything becoming more expensive.
 

McDave

Well-known member
Joined
Jul 10, 2008
Messages
13,555
Thank God for the Euro!!!

The strength of the Euro reflects the relative stability of the Eurozone (mainly Germany, but with a couple of other notables too). In the current climate these economies aren't as exposed as speculative economies like US and UK.

The competitiveness of the Irish economy is nothing to do with the Euro. Eurozone Germany is very competitive thanks to Schroeder's price-busting economic strategy. Our economic flatulence is due to many domestic factors such as McCreeveen's reduction of CGT to 20%, and his notorious pro-cyclical budgets which cut taxes as wages increased and private lending exploded.

To the contrary, entry into the Eurozone provided us with a fantastic opportunity to build a strong sustainable economy. But we threw it away with our teenage "Spend-As-You-Borrow" attitude. Even with all the bad stuff that's happening to us at the moment, we should be thanking our lucky stars that we're inside the Eurozone. If we weren't, speculators would be chewing the punt to a pulp after the hors d'oeuvre of our canape-sized banks.
 

DaBrow

Well-known member
Joined
Jan 23, 2008
Messages
416
87% of irish people are in favour of euro according to most recent survey

http://ec.europa.eu/public_opinion/archives/eb/eb69/eb69_part3_en.pdf

2nd highest in EU
It's probably published by the same people who believe the lisbon treaty is in our interest and ignore the NO result from the last referendum.

I can certainly tell you that the majority of Irish people whom have no choice but to remain in britain or elsewhere in the world, don't favour the euro.

I personally would like the Phunt back along with all the other euro currencies before we had the changeover OR have the euro fixed with other currencies to ensure stability and prevent the fluctuations that have occured................... €1.45 to the £ was reasonable even when things started looking bad early last year!
 

Middleaged

Active member
Joined
Jul 30, 2008
Messages
219
In fact a weak currency would be good for the Irish economy right now.
Could you please give me one, just one, example with figures of how a weak currency would be good for us right now.
 

blucey

Well-known member
Joined
Jan 4, 2007
Messages
366
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.
you do know that high interest rates = capital inflows = appreciation of the currency = what you were agin in the first place = a total contradiction of your initial point = you look like an economic illiterate?
 

ibis

Well-known member
Joined
Mar 12, 2005
Messages
12,359
I can confirm that your concern is being addressed in greece complaining that the euro has created problems, signing upto the euro has meant that the Greeks can't amend their prices and remain competitive.


I must say that for Irish people living in Britain and wanting to payoff their mortgages for homes in ireland, the exchange rate is really hitting them hard like my family.

It won't be too soon when the favourable rate for the euro against the pound will create backlash, because holidaymakers will avoid the contient due to everything becoming more expensive.
Hmm. If we weren't in the euro, we would have the punt, and there would be a punt-sterling exchange rate. If the effects of being outside the euro were so much better than being in it - as is being made out here - the punt-sterling exchange rate would presumably be even more unfavourable.
 

Big Bobo

Active member
Joined
Oct 3, 2008
Messages
169
It's probably published by the same people who believe the lisbon treaty is in our interest and ignore the NO result from the last referendum.

I can certainly tell you that the majority of Irish people whom have no choice but to remain in britain or elsewhere in the world, don't favour the euro.

I personally would like the Phunt back along with all the other euro currencies before we had the changeover OR have the euro fixed with other currencies to ensure stability and prevent the fluctuations that have occured................... €1.45 to the £ was reasonable even when things started looking bad early last year!
The Irish establishment through their media hacks has successfully brainwashed the Irish people into believing the EU is Santa Claus and Mother Teresa rolled into one. A bad word against it will not be heard.
 

Middleaged

Active member
Joined
Jul 30, 2008
Messages
219
you do know that high interest rates = capital inflows = appreciation of the currency = what you were agin in the first place = a total contradiction of your initial point = you look like an economic illiterate?
I tried the subtle approach, but this is better
 

Big Bobo

Active member
Joined
Oct 3, 2008
Messages
169
Hmm. If we weren't in the euro, we would have the punt, and there would be a punt-sterling exchange rate. If the effects of being outside the euro were so much better than being in it - as is being made out here - the punt-sterling exchange rate would presumably be even more unfavourable.
That makes absolutely no sense.
 

Popular Threads

Most Replies

Top