would you trust Zanu FF in control of such an important economic tool as money printing?
In that case no country in the Eurozone should be getting higher investment now that previous years.
So why are Italy and Germany getting higher levels of investment? Magic?
Aside from the economic/fiscal implications of leaving the euro which i don't think justify a move has any of the proponents of leaving the euro considered the practical consquences of suddenly ditching the Euro?
There would be chaos as there would still be a propert function physical currency around the country and people would hoard Euros in the face of a plummeting New Punt. It could take years for a full switchover and those who rely on government payments (welfare, public service) would be much worse off long with punishing those who kept their savings in bank accounts.
It is not as 'simple' a process as in other examples when the central bank just devalued an existing currency
Yes just like people used gold and us dollars in zimbabwe with the local currency being useless, and eventually the government gave up and switched to us dollars
the use of money requires confidence, what you propose would shatter what little confidence is left (in exchange for what exactly?)
checkout Russia's default in the 90's almost everyone switched to using us dollars then, why?
And where does this legal tender come from? They can hardly print/mint it all on the night before the switch over. Banks would have to be shut down until An Punt Nua can be delivered to them. How long would that take? What damage would happen to the economy with no functioning banks?
Yeah we have business and we are too expensive - way to expensive - our nearest neighbour the UK. Is considerably cheaper, you just need to look at Newry on the weekend to see this. So what can we do to ensure Irish jobs? ensure Irish trade??? Tell everyone we need to take a 20 - 40% pay cut just to be compedative with the UK?
Jobs are still being lost in ireland we have not yet hit rock bottom, without money coming in everything else is going to fail at some point.
If the euro is devalued I think it will help the country with day-to-day business and I think this is where we need to start. Else people just need to get real and realise they are not worth the money they are being paid.
You are living in the dark ages - Going back 20 years there is a lot of things the asian countries may not have been able to do whether that be due to infrastrcture or the fact the country was too poor, this is no longer the case as a nation we do not stand head and shoulders anymore above these countries if anything they will over take us. Our education over the last 20 years in a gloabl sense is not nearly as strong as it was we do not have anything of real value that comes from ireland i.e. Dimonds, oil etc....
Tell me exactly what jobs we should be looking to create that could not be done in say China or India?
once again our uncompetitiveness has little to do with the currency
your logic is based on false premise hence its a fail
Maybe the problem is we have a market of 500 odd million people using the same currency as us and we haven't exploited it as we were too busy selling houses and services to each other?
The EU is our biggest single market and multinationals have taken advantage of it. Our indigenous exporters don't seem to have to the same level of success.
Ah but back in Devs shamrock Disneyland they had the punt. Seriously, some people seem to have bad memory and a knack of not attributing our own failure to ourselves, not good when you want to get out of a blackhole.
Noone would work for China or India level wages.
Article by Professor Martin Feldstein (via the irish Economy blog) here recommending temporary exit from the Eurozone for Greece.
What is currency? A value we put on something that is not real, owning our currency and shifting the goal posts is a lot easier than trying to adjust the entire country