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And More bad news

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    #32
    Flamed Diving
    Closed Accounts Posts: 6,609 ✭✭✭Flamed Diving


    gurramok wrote: »
    Fyi, alot of misguided people in this country have been calling for rate cuts to help Ireland through a recession.

    And they are just that, misguided.


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    #33
    Flamed Diving
    Closed Accounts Posts: 6,609 ✭✭✭Flamed Diving


    UCD_Econ wrote: »
    The ECB has one main focus: Price stability. That supersedes everything else.

    A lot of people seem to have trouble grasping this concept.


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    #34
    nesf
    Registered Users Posts: 27,645 ✭✭✭✭nesf


    Flamed Diving wrote: »
    A lot of people seem to have trouble grasping this concept.

    I think it's the medium term outlook that they have the most trouble with. Most people have trouble imagining inflation as anything but the short term.


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    #35
    Flamed Diving
    Closed Accounts Posts: 6,609 ✭✭✭Flamed Diving


    nesf wrote: »
    I think it's the medium term outlook that they have the most trouble with. Most people have trouble imagining inflation as anything but the short term.

    Yeah, but some people seem to hold the belief that the ECB is there to swoop to the rescue of any country that is in recession, when growth performance isn't their primary objective (nor is 'rescuing' individual countries). Rendering comments like:
    The eurozone's interest over-rides the individual national interest. Ireland, you reap what you sow

    ...utterly pointless.


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    #36
    gurramok
    Closed Accounts Posts: 13,992 ✭✭✭✭gurramok


    Flamed Diving wrote: »
    Yeah, but some people seem to hold the belief that the ECB is there to swoop to the rescue of any country that is in recession, when growth performance isn't their primary objective (nor is 'rescuing' individual countries). Rendering comments like:

    ...utterly pointless.

    How is it pointless?

    Point was that the 15 nation eurozone interest supercedes the individual national interest, it was agreeing with your sentiment!


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    #37
    Flamed Diving
    Closed Accounts Posts: 6,609 ✭✭✭Flamed Diving


    Explain the 'ye reap what ye sow' comment then.


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    #38
    gurramok
    Closed Accounts Posts: 13,992 ✭✭✭✭gurramok


    It was a reference to when the country jumped into the euro head first without any planning for the housing bubble that was created when interest rates were slashed to suit the continental powers at the time which helped trading conditions as the euro was weak back then.

    Now we have the situation that the rates are going up which does not suit Ireland especially when alot of our trade is with the UK\US with the euro too strong.

    If we had stayed outside the euro and controlled our own rates, things would of been different.

    Its a case of reap what you sow Ireland Inc but we cannot do anything about it and shouldn't. Lets take the short term pain for long term gain.


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    #39
    Flamed Diving
    Closed Accounts Posts: 6,609 ✭✭✭Flamed Diving


    And you cannot see any benefit for Ireland with regards being part of a strong currency?




    HINT: Iceland


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    #40
    nesf
    Registered Users Posts: 27,645 ✭✭✭✭nesf


    Flamed Diving wrote: »
    And you cannot see any benefit for Ireland with regards being part of a strong currency?




    HINT: Iceland

    Extra credit hint: Import elasticities.


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