European Currency

[HairyArsedBloke]

Yep. The situation of being locked in the Eurozone means that Ireland's ability to extract itself from worldwide recession are extremely limited. No control over interest rates and also a strong Euro, while the UK has been able to weaken the pound to increase its international competitiveness and reduce interest rates much earlier and more dramatically to boost the economy at home.

Thus, we are at least seeing a few 'green shoots' while Ireland certainly is not.

I am so sorry - I read Ireland as Iceland!!!!!!! It's only one letter and a couple of months, as they say.

Pay more attention HAB

Ireland has been suffering from far too lax monitary policies as a result of being in the euro. It needed higher rates in the past to cool things off.

[Cyberman]

I am so sorry - I read Ireland as Iceland!!!!!!! It's only one letter and a couple of months, as they say.

Pay more attention HAB

Ireland has been suffering from far too lax monitary policies as a result of being in the euro. It needed higher rates in the past to cool things off.

No probs. You are right that Ireland needed higher interest rates at one stage, and this again emphasises its problems of being in the Euro where one interest rate has to try to be relevant to nearly 20 countries. It's an impossible task.

[Bagpuss]

CyberT, you are so funny, Ireland needed higher interest rates to cool things off? But according to you the UK needed to lower them sooner

This is when both countires had the same problem

[OwlHoot]

On a related topic, I reckon the main reason Fondlebums is so mad keen to privatise the Post Office is to get the Queen's head off stamps, which I'm sure he sees as one more stage towards sidelining the monarchy in preparation for abolishing it in favour of an EU president.

Pschologically, if the sovereign's image is no longer seen every day, on stamps and currency for example, they eventually sort of fade from prominence. So joining the euro would, among other things, further this aim.

[Cyberman]

CyberT, you are so funny, Ireland needed higher interest rates to cool things off? But according to you the UK needed to lower them sooner

This is when both countires had the same problem

Different countries need different interest rates at different times. We have total flexibility in the UK to achieve this. Of course, you just don't understand and never will.

[expat]

Different countries need different interest rates at different times. We have total flexibility in the UK to achieve this. Of course, you just don't understand and never will.

That's exactly my point about Scotland. I can not tell you how aggrieved I was to pay 15% interest on my mortgage in Scotland during the last Tory government, when I could see no reason in the Scottish economy to justify high interest rates.

[Cyberman]

That's exactly my point about Scotland. I can not tell you how aggrieved I was to pay 15% interest on my mortgage in Scotland during the last Tory government, when I could see no reason in the Scottish economy to justify high interest rates.

You still have more flexibility being attached to the UK than being in the Euro, or is that just too difficult for you to see ?

[DodgyAgent]

.

I don't claim to understand economics, .

In which case shut up.

[HairyArsedBloke]

That's exactly my point about Scotland. I can not tell you how aggrieved I was to pay 15% interest on my mortgage in Scotland during the last Tory government, when I could see no reason in the Scottish economy to justify high interest rates.

What would be the name of the unit of currency in an independent Scotland?

[expat]

What would be the name of the unit of currency in an independent Scotland?

Probably the Euro, though there are quite a few who would happily stick with the Giro.