Lets just get rid of the single currency and have done with it

fishy fishy

this is an agony that they are prologing and prologing - the Euro is in a State - its going to get worse and not better - we need to get rid of it altogether. It's going to go anyway in the future - lets just do it now. Anyone agree?

hooradiation

fishy fishy wrote: »

this is an agony that they are prologing and prologing - the Euro is in a State - its going to get worse and not better - we need to get rid of it altogether. It's going to go anyway in the future - lets just do it now. Anyone agree?

no.

Oranage2

There'll soon be a one world currency called the Renminbi.

MagicSean

I would hate to have to go back to ordering money and paying the banks commission whenever I go on holiday.

If we do go back i think we should adopt the Deutchmark before the Germans can. Then sell it back to them at a mark up.

joshrogan

I don't like changing my money when I go on holidays to Spain/France/Italy on holidays and I have no intention of starting now.

fishy fishy

joshrogan wrote: »

I don't like changing my money when I go on holidays to Spain/France/Italy on holidays and I have no intention of starting now.

so what do ya do if you head to any non-euro country or do you just avoid those countries altogether, cause you don't want to use a calculator. Maybe if calculators were used over the last ten years we wouldn't be in the mess we are

meditraitor

fishy fishy wrote: »

this is an agony that they are prologing and prologing - the Euro is in a State - its going to get worse and not better - we need to get rid of it altogether. It's going to go anyway in the future - lets just do it now. Anyone agree?

Couple of hedge fund lads might agree with you, anyone sensible- NAH

baltimore sun

What exactly would it solve? Whether we do business in euros/dollars/punts etc does it really matter, if the economy here in europe is shagged then how will reverting back to our old currencies help to solve that?

seamus

If we were going to drop the euro, then I say screw the punt. Pound sterling is the way to go, it would simplify a lot of things for us and peg us to a very stable currency.

Plus I like their little pound coins, they've a lovely weight in them.

meditraitor

fishy fishy wrote: »

so what do ya do if you head to any non-euro country or do you just avoid those in favour of buying a calculator in the euro shop.

Firstly you obviously havent got a clue how many advantages the EURO has over a 17 different currency types.

You also seem to have forgotten that we had a recession and we had a bailout because the banks and the government wrecked the country, if we were not in the euro your wage(or dole god forbid) would be worth nothing. Super inflation and currency devalue would have been mad.

take everything

fishy fishy wrote: »

this is an agony that they are prologing and prologing

They are introducing an agony with a prologue?

Tordelback

fishy fishy wrote: »

- the Euro is in a State -

This reads like a Crossaire clue! I got either "Puerto Rico" or "Equatorial Guinea", but neither seem to fit the answers I already have... Oooh, I know - is it "South Korea"?

Lady Chuckles

fishy fishy wrote: »

this is an agony that they are prologing and prologing - the Euro is in a State - its going to get worse and not better - we need to get rid of it altogether. It's going to go anyway in the future - lets just do it now. Anyone agree?

I agree. The idea of a monetary union is nice, but doesn't that also mean that the entire economy of one country is extra sensitive to how all the other union-countries are doing? In these times it sounds a little risky... :rolleyes:

ZombieBride

Lets go back to gold nuggets and bartering with livestock, them were the glorious days.

meditraitor

Lady Chuckles wrote: »

I agree. The idea of a monetary union is nice, but doesn't that also mean that the entire economy of one country is extra sensitive to how all the other union-countries are doing? In these times it sounds a little risky... :rolleyes:

That is the case whether we are in a monetary union or not, especially for Ireland as it is our exports that are keeping our head above water. The other poitn I would make is that it is in the interest of the stronger better run states like Germany to stop the fiscally challenged(idiot states) countries from collapsing.

If we were not part of the Eurozone we would never have had the bailout and the whole economy would be in the crap right now.

ArmaniJeanss

Lady Chuckles wrote: »

I agree. The idea of a monetary union is nice, but doesn't that also mean that the entire economy of one country is extra sensitive to how all the other union-countries are doing? In these times it sounds a little risky... :rolleyes:

Do you realise that Ireland is the country who is 'the risk'?
What you've said is a good reason why Germany or Finland or Holland should leave; conversely Ireland should be begging to stay.

Lady Chuckles

meditraitor wrote: »

That is the case whether we are in a monetary union or not, especially for Ireland as it is our exports that are keeping our head above water. The other poitn I would make is that it is in the interest of the stronger better run states like Germany to stop the fiscally challenged(idiot states) countries from collapsing.

If we were not part of the Eurozone we would never have had the bailout and the whole economy would be in the crap right now.

Having the euro-money and being in the European Union are two different things. I think the EU is good for Ireland.

I just tend to think, in general, that the whole euro-money idea wasn't very well thought through

Lady Chuckles

ArmaniJeanss wrote: »

Do you realise that Ireland is the country who is 'the risk'?
What you've said is a good reason why Germany or Finland or Holland should leave; conversely Ireland should be begging to stay.

I do realise that
I also realise you can't leave and shouldn't leave. Not at this stage. I'm just not too fond of the euro concept - that's all.

Wertz

seamus wrote: »

If we were going to drop the euro, then I say screw the punt. Pound sterling is the way to go, it would simplify a lot of things for us and peg us to a very stable currency.

Plus I like their little pound coins, they've a lovely weight in them.

Normally I'd agree but if the euro goes kaput the Pound will fall dramtically and the UK is undergoing a lot of finacial turmoil and has a problem with inflation too. It'sd probably be as good an option as a punt nua or whatever, but it'd still be a substantial devaluation.

Getting rid of the euro as Irish currency willingly? F*ck no. If you have savings you'll know why...if you have debt then you'll know why.
Be careful what you wish for...

meditraitor

Lady Chuckles wrote: »

Having the euro-money and being in the European Union are two different things. I think the EU is good for Ireland.

I just tend to think, in general, that the whole euro-money idea wasn't very well thought through

To run the EU properly will require fiscal union at some stage, if there was a more coherent and solid fiscal union in place we wouldnt be in the mess we are in now.

Its time to bite the bullet and move for all out fiscal union across the EU, with or without the UK.

fishy fishy

interesting responses. If the Euro was disolved we would manage - I'm tired listening to all the "bad things" that would happen if it was dissolved - I think people have grown indifferent to the scare tactic mentality - i.e. "vote yes to lisbon for jobs" - "vote no at your peril". LOL.

IMO it will be gone soon. and don't worry- we'll survive.

Lady Chuckles

meditraitor wrote: »

To run the EU properly will require fiscal union at some stage, if there was a more coherent and solid fiscal union in place we wouldnt be in the mess we are in now.

Its time to bite the bullet and move for all out fiscal union across the EU, with or without the UK.

Oh no, I'm not having a United States of Europe or the euro, thank you very much

Wertz

Haha imagine an EU wide budget...and we think Mickey Noonan's upcoming one will be harsh. Fiscal union is a necessary evil at this stage (if we want to save the currency) but public service wages and social welfare would suffer greatly...some might say that's a good thing, but in reality too big a cut in those areas would be a huge shock to the country.
...but not as big a shock as a currency change or reversion.
No matter what there'll be "bad things"...

nice_very

Ive said it before.. why dont we (the Irish Govt) hold the euro to ransom.. the way I see it is if we default it would do a lot of damage to the euro.. so... if the eurocrats want to save it, start giving us better deals, we are after all saving a lot of euro investors.

orourkeda

fishy fishy wrote: »

this is an agony that they are prologing and prologing - the Euro is in a State - its going to get worse and not better - we need to get rid of it altogether. It's going to go anyway in the future - lets just do it now. Anyone agree?

What happens next?

Chuck Stone

I would rather that there was no centralised monopoly of money production at all anywhere.

Here's what happened to this man in the US who decided to set up his own currency backed by real world precious metals.

Jail.

orourkeda

joshrogan wrote: »

I don't like changing my money when I go on holidays to Spain/France/Italy on holidays and I have no intention of starting now.

Sure god love you.

Good to know that your holiday money is more important than global financial collapse

fishy fishy

nice_very wrote: »

Ive said it before.. why dont we (the Irish Govt) hold the euro to ransom.. the way I see it is if we default it would do a lot of damage to the euro.. so... if the eurocrats want to save it, start giving us better deals, we are after all saving a lot of euro investors.

no, that would mean our govt having a backbone, something that would interfere greatly with their ars*lick mentality.

Lord Trollington

seamus wrote: »

If we were going to drop the euro, then I say screw the punt. Pound sterling is the way to go, it would simplify a lot of things for us and peg us to a very stable currency.

Plus I like their little pound coins, they've a lovely weight in them.

I'd be inclined to agree with this to be honest.

orourkeda

meditraitor wrote: »

That is the case whether we are in a monetary union or not, especially for Ireland as it is our exports that are keeping our head above water. The other poitn I would make is that it is in the interest of the stronger better run states like Germany to stop the fiscally challenged(idiot states) countries from collapsing.

If we were not part of the Eurozone we would never have had the bailout and the whole economy would be in the crap right now.

The economy is still in bits. Its difficult to see an improvement in the short term at least.

The IMF are based in Washington anyway. We'd have gotten the bailout from them.

OneArt

MagicSean wrote: »

I would hate to have to go back to ordering money and paying the banks commission whenever I go on holiday.

If we do go back i think we should adopt the Deutchmark before the Germans can. Then sell it back to them at a mark up.

Ein bisschen zu spaet, alter!

The Germans have already printed a tonne of D-Marks just in case in does go belly-up.

orourkeda

seamus wrote: »

If we were going to drop the euro, then I say screw the punt. Pound sterling is the way to go, it would simplify a lot of things for us and peg us to a very stable currency.

Plus I like their little pound coins, they've a lovely weight in them.

Hasn't sterling devalued significantly over the last 5 years or so

orourkeda

Lord Trollington wrote: »

I'd be inclined to agree with this to be honest.

Why?

Robdude

nice_very wrote: »

Ive said it before.. why dont we (the Irish Govt) hold the euro to ransom.. the way I see it is if we default it would do a lot of damage to the euro.. so... if the eurocrats want to save it, start giving us better deals, we are after all saving a lot of euro investors.

Doesn't seem like a very honest thing to do, IMHO.

4leto

fishy fishy wrote: »

this is an agony that they are prologing and prologing - the Euro is in a State - its going to get worse and not better - we need to get rid of it altogether. It's going to go anyway in the future - lets just do it now. Anyone agree?

Fukcing no

You have no idea the disaster that would be for this state and the world.

You do not want the Euro to fail, its an unthinkable economic meltdown that will make 1929 look like a walk in the park. Which is why I don't think it will be allowed to happen.

I think eventually it will be devalued by what I don't know, probably 20% then it will be slowly with drawn as each country slips back into their old currencies.

Haelium

We shouldn't do anything dramatic right now, our economy is recovering and we're meeting our targets, there's no need to do anything crazy.

Leaving the Euro would be a bad idea anyway, I would have zero confidence in it and neither would investors, can you see Google staying in Ireland if it wasn't a Eurozone country? Because I can't.

Leaving the Euro is a bad idea.

seamus

Chuck Stone wrote: »

I would rather that there was no centralised monopoly of money production at all anywhere.

That makes no sense. That would be like saying that people should be able to print up their own cheques on MS Word and use them to buy goods.

Chuck Stone

seamus wrote: »

That makes no sense. That would be like saying that people should be able to print up their own cheques on MS Word and use them to buy goods.

That's some strange extrapolation there. What seller of goods will accept self-printed money?

Why shouldn't currencies compete with each other within national boundaries? Just because that's why?

Central banks are massive government supported monopolies and when they decide to print money it's called 'quantitative easing' which leads to inflation which hurts those on low and fixed incomes (pensioners and disabled people).

seamus

Chuck Stone wrote: »

Why shouldn't currencies compete with each other within national boundaries? Just because that's why?

Because the consumer is the one who would end up hurt. How do retailers value their stock, "This costs 100 bank of ireland punts, but 123.4 AIB punts", with revaluations occuring on a day-to-day basis?

In reality all you would create is a microcosm of the world financial markets where those with enough money and savvy to play the game will make big profits through moving their money around, but the average Joe will get bitten every so often when a bank collapses or arbitrarily decides to revalue its currency. Administrative nightmare.

Wouldn't work here anyway. Ultimately we'd end up with just one or two strong currencies operating a virtual (or actual) monopoly, except that monetary control would be out of our Government's hands.

FWIW, there's nothing stopping anyone from trading in other national currencies within our national territory. We just tend not to do it because it's a lot of hassle and makes it more difficult to value yourself against the local economy.

recyclebin

orourkeda wrote: »

Hasn't sterling devalued significantly over the last 5 years or so

yes, yes it has and anyone selling into the UK will know just how much it devalued. It went from 0.69 to near parity and it now its back in the 0.80's.

Stable my arse.

Chuck Stone

seamus wrote: »

but the average Joe will get bitten every so often when a bank collapses or arbitrarily decides to revalue its currency.

Um.. what do you think has just happened in this country? Even worse the average Joe who was fiscally prudent is burdened with the losses of those average Joes like bank CEO's who were fantastically imprudent and people who borrowed outside their means and those untouchable senior bond holders.

At least if you got to choose which currency you used it would be your own fault if you chose a bank with questionable practices.

Faith+1

ZombieBride wrote: »

Lets go back to gold nuggets and bartering with livestock, them were the glorious days.

Yeah 1997 was a good year for me too.

Crazy Horse 6

fishy fishy wrote: »

this is an agony that they are prologing and prologing - the Euro is in a State - its going to get worse and not better - we need to get rid of it altogether. It's going to go anyway in the future - lets just do it now. Anyone agree?

Yeap. Never wanted a part of it in the first place it's brought nothing good to this country.

Haelium

Crazy Horse 6 wrote: »

Yeap. Never wanted a part of it in the first place it's brought nothing good to this country.

If we were using our own currency during the crash we would have never started to recover, we would have lost all investment and nobody would touch an Irish bank.

Helix

if ireland had its own currency, or wasnt in the euro right now, things would be a million times worse

youd be paying hundreds of punt or whatever for your bread and milk due to the absolute worthlessness of the currency following the celtic tiger collapse

Wertz

Some people are forgetting that if we'd had a punt instead of a euro, the property bubble might not have reached the levels it did...cheap foreign lending brought on by the single currency was largely to blame for all our current problems.

That being said, without it we wouldn't be a european hub for American multinationals.
It's swings and roundabouts...

With the punt we had some control...that's lacking with the euro. the only ones with control are Germans and French.

nice_very

Robdude wrote: »

Doesn't seem like a very honest thing to do, IMHO.

and the reason we are in the mess we are in is all down to politicians acting honestly?

seriously we have a chance here to stand up to our euro-masters and give them the ultimatum - the euro or our debts.. simples!

Mike 1972

Haelium wrote: »

If we were using our own currency during the crash we would have never started to recover, we would have lost all investment and nobody would touch an Irish bank.

Cant believe this thread has gone to 48 odd posts without some deluded soul spouting shyte about being able to set our own interest rates

Wertz wrote: »

...cheap foreign lending brought on by the single currency was largely to blame for all our current problems.

Is there anything we cannot scapegoat dem forinnurs for ?

Wertz

No-one's scapegoating them....but there's no denying that the available cheap money was a pillar of the boom/bust. Another pillar was the eejits in the banks and the overseers and the politicians...and of course those that borrowed that cheap money.