Going back to irish pounds ? Would you be in favour

focusowner

How would you feel about going from euros back to irish pounds ?


I think we would be better off far away from the euro stand on our own feet and dig our way back out of this hole we are in

Daniel S

I'd rather go back, I liked the look of them more.






And now back to reality. No, keep the Euro.

KerranJast

Our debts would still be in euro so we'd be even more fupped.

bryaner

Hell yea I still have an old tenner in me bedside locker..

focusowner

bryaner wrote: »

Hell yea I still have an old tenner in me bedside locker..

Ive a daniel o connell

hmmm

The good old Irish pound, I used never have to worry about planning foreign holidays as it was always worthless.

bryaner

focusowner wrote: »

Ive a daniel o connell

Ya feckin showoff..;)

wildefalcon

KerranJast wrote: »

Our debts would still be in euro so we'd be even more fupped.

Well, would they? If WE issued the debts, we could call the shots, Our bonds, our laws, "duly passed by the dail, henceforth all bonds denominated in Euro are now denominated in Punts at face value....?

Smart thing to do would be to repunt, devalue and use our foreign exchange reserves to pay off the ECB and the IMF. Dump every cent we have in every semi state into dollars the day before, and when the Euro devalues as a result of our move we'd make a killing.

And as we'd have reduced our debt we could borrow again!

Only problem is inflation would go through the roof, as the price of oil is outside our control.

Even that would sort out negative equity!

Oops! Have I given the game away?

focusowner

I have a funny feeling that they will force us out of the euro anyway cos we could drag it down same would go for other countries set them back to their previous currency and let them work away

Delancey

Surely if we were to leave the Euro and revert to the punt our ' new ' currency would quickly fall in value relative to the Euro , Dollar , £ STG , etc and one immediate consequence of this would be a surge in inflation due to the increases costs of imports.
Since we pay for oil in $ for example we could expect big increases in energy costs ?

dan_d

As far as I'm aware - and the only thing that's backing me up here is applying my common sense to the basic knowledge and info I have regarding economics and the state of our finances......it's not a possibility.

So there's not much point in discussing it to death.Again.

francie81

Apart from the devaluation of what it would be if we did go back to it, I'd love to have it back in my hand because it felt like real money.

I guess I'll have to savour the bit of punt I did retain.

aphex™

I don't think so. I'm against people devaluing MY hard earned savings to pay for their idiotic pie-in-the-sky property investments.

hinault

Delancey wrote: »

Surely if we were to leave the Euro and revert to the punt our ' new ' currency would quickly fall in value relative to the Euro , Dollar , £ STG , etc and one immediate consequence of this would be a surge in inflation due to the increases costs of imports.
Since we pay for oil in $ for example we could expect big increases in energy costs ?

and our new currency's interest rate would have to be set higher in order to try to defend the currency's value.

paddy0090

The EU16 won't force us out of the euro and our government won't leave.

1)We'd be paying them back in potato skins
2)There pay and pensions would be worth potato skins - They'd let us all go hungry before they let us all go hungry and lost there pensions

It makes more sense from there perspective to keep us in if we play ball on the rules....and we will.

Bottle_of_Smoke

Nah the Euro basically ensure smaller countries could never leave.

Should have asked David today if we could join his club.

McDave

I don't think the Irish political system and the wider economy have the discipline to operate independently with any meaningful success of their own volition. At least at this point in time.

It would take 10 or 15 years of sustained economic success to convince me that it would be worth even considering moving to an Irish Pound. And if this was somehow to be underpinned by Sterling, then under no circumstances.

Prakari

The U.S. dollar, the Euro and the British pound are in the process of an inflationary debt spiral. Basically, in an attempt to pay for the huge level of debt in the system, the rate of money creation in both central and private banks will be increased. However, new money creates even more debt and the cycle continues until there is a run on the currency. Even though the dollar is the world’s reserve currency, it looks the most vulnerable. I’ve exchanged a lot of my euros for silver as the markets need only to sacrifice another one of the PIIGS to destroy the eurozone as it currently exists.

caseyann

paddy0090 wrote: »

The EU16 won't force us out of the euro and our government won't leave.

1)We'd be paying them back in potato skins
2)There pay and pensions would be worth potato skins - They'd let us all go hungry before they let us all go hungry and lost there pensions

It makes more sense from there perspective to keep us in if we play ball on the rules....and we will.

Good enough for them with the mess they made and the allowances they are making for criminals.
They would be lucky to get it back in potato skins,but instead Irish are settling for skin off their backs.

Spudmonkey

caseyann wrote: »

Good enough for them with the mess they made and the allowances they are making for criminals.
They would be lucky to get it back in potato skins,but instead Irish are settling for skin off their backs.

The mess they made? Like they were entirely to blame for our woes?

caseyann

Spudmonkey wrote: »

The mess they made? Like they were entirely to blame for our woes?

The whole EU mess,its a farce a disaster and nothing more than a fantasy like communism and democracy.
Dont even try drag me into this as part of my fault, i havent voted for a single thing this country has done in last 20 years.I sat back and waited for it to all fall around the ears of Ireland and voted against it all.

paddy0090

caseyann wrote: »

The whole EU mess,its a farce a disaster and nothing more than a fantasy like communism and democracy.
Dont even try drag me into this as part of my fault, i havent voted for a single thing this country has done in last 20 years.I sat back and waited for it to all fall around the ears of Ireland and voted against it all.

Nihilisim is the real fantasy!

I don't think us being part of the Euro caused this mess. Iceland(as well as Latvia & Hungary) hit the same trouble and it wasn't part of the Euro. We just had bigger eejits in charge.

The failure to regulate was multinational but the mania was all our own.

focusowner

" the mania was all our own "

Thats true to an extent but not everyone on this fair isle is to blame for others risk taking and pretty much gambling with borrowed money

I dont have a mortgage luckily enough had planning permission to build but didnt get to and thank god i didnt , i had been told by friends relations etc who were basically sneering at the fact i hadnt taken a mortgage when the banks were " throwing money " at people , well sneer as they may i stood my ground owe nobody anything , lost my job last week and walked into a new job following week following an agreement with my employer to leave early cos he had no work anyway , id have been rightly f.....d if i had a mortgage to pay but im grand and have since found a house for 60k less than i was gonna have to pay to build my own , moral of the story not everyone is to blame for how things turned out

paddy0090

My point was, that even if we'd had the punt we'd still be in the same mess. Your relatives would still have sneered at you for not taking out a mortgage. BTW if you've no debts, technically you're richer than half the country. Fair play, you held your nerve. many others didn't and jumped in, two three four times.

This is a little off topic - but we are all in some way (and I'm in the same boat as you) partially responsible because we never placed enough emphasise on accountability in public and private institutions. Berite Ahern et al were allowed to win arguements with spin, and all opposition was bought out with pay rises and pork.A rising tide lifts all boats - best not to rock them.

With the punt we'd probably have defaulted by now and consequently been considerably poorer than we are now. I'm no economist but I've been told we'd be 40-60% less well off if we exited the euro, but we'd be in a better position to grow. Of course we would - from there the only way is up.

Brenireland

I feel Ireland should pull the plug and go back to the pound,my pockets felt heavier with those nice coins.

focusowner

paddy i take ur point , just really pissed off with this country at the minute if u do enough wrong u get paid off big time but if u try to struggle on u end up bein the guy paying back his bad debt and i dont mean me literally but those fortunate enough to have jobs however good or bad they are