If the Euro Collapsed......

Mr. Mac

In 5 simple bullet points what would it mean for Ireland?

Crazy Horse 6

I hope it does collapse just so threads like this would be confined to history.

Mr. Mac

Crazy Horse 6 wrote: »

I hope it does collapse just so threads like this would be confined to history.

Brilliant response.

PCPhoto

it means all the money you have is worthless and all the debts you have are transferred into the new currency.

a new currency would have to be printed.

prices of things soar, the value of your money drops.

JohnnyTodd

Fingers crossed it does. I'm paid in sek

thebman

JohnnyTodd wrote: »

Fingers crossed it does. I'm paid in sek

k looks too much like an x when tired. :P

If the Euro collapsed, I imagine many people would go into the fetal position while many more would burn buildings down to protest against the government and reinflate the property bubble :P

Icepick

JohnnyTodd wrote: »

Fingers crossed it does. I'm paid in sek

You think sek wouldn't be hit?
How shortsighted and foolish.

andrew

Nobody Knows for sure.

K.Flyer

andrew wrote: »

Nobody Knows for sure.

True... but,
I really dont think it would be half as bad as some people want to make it out to be. Iceland seem to be doing ok after the decisions they took and you would swear that they were all going to starve to death and the entire country was going to grind to a halt the way some people went on. I do feel that most of this scare mongering is contrived by The Mercozys to control Europe through their debt and banking and saying that there would be no money in ATMs I believe is just nonsense. But inflation would more than likely increase for a while until things settled.
Not saying I'm correct, just my opinion.

thebman

K.Flyer wrote: »

True... but,
I really dont think it would be half as bad as some people want to make it out to be. Iceland seem to be doing ok after the decisions they took and you would swear that they were all going to starve to death and the entire country was going to grind to a halt the way some people went on. I do feel that most of this scare mongering is contrived by The Mercozys to control Europe through their debt and banking and saying that there would be no money in ATMs I believe is just nonsense. But inflation would more than likely increase for a while until things settled.
Not saying I'm correct, just my opinion.

Go read up on Iceland and what it did to try to see if you would like to experience it.

A lot didn't come out of Iceland during its initial adjustment.

K.Flyer

thebman wrote: »

Go read up on Iceland and what it did to try to see if you would like to experience it.

A lot didn't come out of Iceland during its initial adjustment.

The OP's question was what would happen to Ireland if the Euro collapsed. I was referencing Iceland because of what they did and whilst it was realy tough going for them they are, from what I have read, pulling through it. But are we, or would we be, any worse off than we are or are going to be, compared to Iceland if the Euro collapsed. I don't know I'm not an economist or an accountant. But I feel it may not be as bad for us compared to Iceland (who only have fish and aluminium as their main export) due to our own domestic economy and export business. But I do stand to be corrected on my assumptions.

jacko1

according to a guy on rte 1 radio yesterday the irish economy would collapse by 40% in one year and there would be widespread poverty on a scale never seen in the last century

zenno

As i'm polishing the pump action shotgun cartridge. just stocked up on tinned food now so making sure my guns are nice and clean and ready.

meglome

jacko1 wrote: »

according to a guy on rte 1 radio yesterday the irish economy would collapse by 40% in one year and there would be widespread poverty on a scale never seen in the last century

No one is sure but that is certainly a possibility.

andrew

K.Flyer wrote: »

The OP's question was what would happen to Ireland if the Euro collapsed. I was referencing Iceland because of what they did and whilst it was realy tough going for them they are, from what I have read, pulling through it. But are we, or would we be, any worse off than we are or are going to be, compared to Iceland if the Euro collapsed. I don't know I'm not an economist or an accountant. But I feel it may not be as bad for us compared to Iceland (who only have fish and aluminium as their main export) due to our own domestic economy and export business. But I do stand to be corrected on my assumptions.

You can't compare Iceland to Ireland. What happened to Iceland is completely different to what would happen to Ireland if it were to leave the euro; that Ireland doesn't have it's own currency makes all the difference.

jacko1 wrote: »

according to a guy on rte 1 radio yesterday the irish economy would collapse by 40% in one year and there would be widespread poverty on a scale never seen in the last century

I believe that statistic comes from a UBS report on what would happen if the euro collapsed.

Laois_Man

1. Default. Not just soverign default but also corporate default resulting in mass bankruptcies

2. A bank run immediately prior to collapse resulting in Irish banking system collapse.

3. Due to breaking the Maastricht Treaty, we would leave the EU and not just the Eurozone.

4. Widespread poverty resulting in a significant chance of civil disorder

There are not my opinions. They are the opinions of the afforementioned UBS report from Switzerland.

irishh_bob

jacko1 wrote: »

according to a guy on rte 1 radio yesterday the irish economy would collapse by 40% in one year and there would be widespread poverty on a scale never seen in the last century

sounds like something lucinda creighton ( or meglome ) would say

PrincessLola

It would mean smug British people going 'I told you so'

kaymin

Laois_Man wrote: »

1. Default. Not just soverign default but also corporate default resulting in mass bankruptcies

As if we haven't been experiencing that in Ireland already.

Laois_Man wrote: »

2. A bank run immediately prior to collapse resulting in Irish banking system collapse.

Obviously if the euro collapses, banks / ATMs would be immediately shut to facilitate a currency switchover and then re-opened with everyone's deposits / loans having been re-dominated in the new currency. There would be no scope / time for a bank run.

Laois_Man wrote: »

3. Due to breaking the Maastricht Treaty, we would leave the EU and not just the Eurozone.

Because the euro collapsed ?

Laois_Man wrote: »

4. Widespread poverty resulting in a significant chance of civil disorder

There would be poverty initially but industries will re-build using their new national currencies in the same way as pre-euro times.

What's worse - being told what to do by France / Germany or having a genuine democracy? I know what I'd choose. If Merkozy get their way, Irish citizens will be squeezed for every last drop of blood - what do you think will happen if they start controlling our tax regime - the two areas that are doing well in the Irish economy, multi-nationals and financial services sector, would collapse. It's time Ireland stood up for itself.

thebman

kaymin wrote: »

There would be poverty initially but industries will re-build using their new national currencies in the same way as pre-euro times.

What's worse - being told what to do by France / Germany or having a genuine democracy? I know what I'd choose. If Merkozy get their way, Irish citizens will be squeezed for every last drop of blood - what do you think will happen if they start controlling our tax regime - the two areas that are doing well in the Irish economy, multi-nationals and financial services sector, would collapse. It's time Ireland stood up for itself.

That is a pretty picture you paint

I think I'll stick with ze Germans over mass poverty and the hope to rebuild it someday.

Why not stick with ze Germans for now and pull out when things have stabilised and there is less likelihood of mass poverty to follow.

Not like they are asking to setup military bases here, we are free to walk away from everything later on but might not be popular for it but sure we wouldn't be popular for it if we do it now either so its win/win to run with it for the moment from what I can see.

kaymin

thebman wrote: »

Why not stick with ze Germans for now and pull out when things have stabilised and there is less likelihood of mass poverty to follow.

Because the Germans haven't been democratically elected by the Irish citizens to make decisions on behalf of Irish citizens. Another poster already rubbished the Icelandic turnaround - there's no reason for not looking at Iceland for an example of what might happen to Ireland. Everyone said Iceland was finished but their unemployment rate is now only 6.8%.

thebman wrote: »

Why not stick with ze Germans for now and pull out when things have stabilised and there is less likelihood of mass poverty to follow.

Not like they are asking to setup military bases here, we are free to walk away from everything later on but might not be popular for it but sure we wouldn't be popular for it if we do it now either so its win/win to run with it for the moment from what I can see.

Because huge numbers of good businesses in Ireland are going out of business everyday because they can't borrow and because Irish citizens have no confidence in Ireland's future based on the current path that is being followed and consequently there is no domestic demand to support indigenous companies.

thebman wrote: »

Not like they are asking to setup military bases here, we are free to walk away from everything later on but might not be popular for it but sure we wouldn't be popular for it if we do it now either so its win/win to run with it for the moment from what I can see.

This is going to sound dramatic but they don't need to set up military bases here, they're conducting economic warfare and are effectively controlling Ireland / Irish people through economics. True, we are free to walk away from everything later but at the cost of how many businesses and additional emigrants and economic hardship in the meantime. 'Run with it for now' comments strike me of herd mentality.

thebman

kaymin wrote: »

Because the Germans haven't been democratically elected by the Irish citizens to make decisions on behalf of Irish citizens. Another poster already rubbished the Icelandic turnaround - there's no reason for not looking at Iceland for an example of what might happen to Ireland. Everyone said Iceland was finished but their unemployment rate is now only 6.8%.



Because huge numbers of good businesses in Ireland are going out of business everyday because they can't borrow and because Irish citizens have no confidence in Ireland's future based on the current path that is being followed and consequently there is no domestic demand to support indigenous companies.



This is going to sound dramatic but they don't need to set up military bases here, they're conducting economic warfare and are effectively controlling Ireland / Irish people through economics. True, we are free to walk away from everything later but at the cost of how many businesses and additional emigrants and economic hardship in the meantime. 'Run with it for now' comments strike me of herd mentality.

Lol so basically they are going to eat our babies it seems.

Calling it herd mentality when people ignore you claiming Germany is trying to take control of Ireland is a load of crap TBH. The reason people are ignoring you is because you are wrong much like every other time it has come up with every other treaty or any vote to do with the Europe not necessarily from you but from some fringe group or people that like to believe in conspiracy theories.

People making statements like yours are the boy who cried wolf at this stage and calling it herd mentality is basically an admission that most people are sick of hearing it and won't even entertain your idea as being serious at this stage because it has been wrong before so many times.

kaymin

thebman wrote: »

Lol so basically they are going to eat our babies it seems.

Calling it herd mentality when people ignore you claiming Germany is trying to take control of Ireland is a load of crap TBH. The reason people are ignoring you is because you are wrong much like every other time it has come up with every other treaty or any vote to do with the Europe not necessarily from you but from some fringe group or people that like to believe in conspiracy theories.

People making statements like yours are the boy who cried wolf at this stage and calling it herd mentality is basically an admission that most people are sick of hearing it and won't even entertain your idea as being serious at this stage because it has been wrong before so many times.

There's very little I can respond to there. If you can't put forward any logical argument for why we should 'run with it for now' (which equates to saying lets let others make our decisions for us because then we won't actually have to think) then the 'herd mentality' description' is apt, like it or not.

thebman

kaymin wrote: »

There's very little I can respond to there. If you can't put forward any logical argument for why we should 'run with it for now' (which equates to saying lets let others make our decisions for us because then we won't actually have to think) then the 'herd mentality' description' is apt, like it or not.

lol what is the argument for why we should abandon the proposal before we have even heard it?

So far we haven't actually seen any concrete proposal but your already claiming Germany want control.

I'll read the proposal when it is released but the negotiations are still ongoing as far as I know.

Your the one claiming we are all in a herd willing to let Germany take control of our economy so where is your evidence of this?

kaymin

thebman wrote: »

lol what is the argument for why we should abandon the proposal before we have even heard it?

So far we haven't actually seen any concrete proposal but your already claiming Germany want control.

I'll read the proposal when it is released but the negotiations are still ongoing as far as I know.

Your the one claiming we are all in a herd willing to let Germany take control of our economy so where is your evidence of this?

What proposal are you talking about? I'm saying Irish politicians should take a stronger stance in negotiations with merkozy.

We were forced into the IMF bailout and forced to pay unguaranteed, unsecured bondholders in Anglo and other banks. We're not involved in the decision making at eu level- once it's agreed by merkozy it's a done deal, it seems, based on what we've seen to date.

thebman

kaymin wrote: »

What proposal are you talking about? I'm saying Irish politicians should take a stronger stance in negotiations with merkozy.

We were forced into the IMF bailout and forced to pay unguaranteed, unsecured bondholders in Anglo and other banks. We're not involved in the decision making at eu level- once it's agreed by merkozy it's a done deal, it seems, based on what we've seen to date.

I'm talking about whatever comes from the current talks. That will be the proposal.

TBH, it sounds like you want to oppose whatever will become of the talks before you've even heard it, anybody that disagrees with you is in a herd mentality and anybody that agrees with you is presumably enlightened or something.

I'll leave you to it so, have fun not being in a herd I guess.

Crazy Horse 6

jacko1 wrote: »

according to a guy on rte 1 radio yesterday the irish economy would collapse by 40% in one year and there would be widespread poverty on a scale never seen in the last century

You can be sure RTE will be pushing this agenda for the next few months before the coming referendum. The Irish are easily lead.

fly_agaric

kaymin wrote: »

Because the Germans haven't been democratically elected by the Irish citizens to make decisions on behalf of Irish citizens. Another poster already rubbished the Icelandic turnaround - there's no reason for not looking at Iceland for an example of what might happen to Ireland. Everyone said Iceland was finished but their unemployment rate is now only 6.8%.

But Iceland has tried to learn from what happened, change, make sure it doesn't happen again etc.

Ireland has not, and will not. Politicians and possibly the public too don't want that.

Iceland has made their bankers and politicians suffer heavy consequences for their financial disaster, Ireland has not and will not.

At the moment having others in the EU (incl the Germans) watching over our shoulder to make sure we don't f- things up even more is what's best for the country.

kaymin wrote: »

Because huge numbers of good businesses in Ireland are going out of business everyday because they can't borrow and because Irish citizens have no confidence in Ireland's future based on the current path that is being followed and consequently there is no domestic demand to support indigenous companies.

I'm sure there won't be anything for these businesses to borrow for several years after we quit the Euro system + default on debts either! May not be too many customers for them in Ireland either, especially if they are selling expensive imported goods!

mistermouse

On the news recently Audi are expanding their dealership network in Ireland and have 25% growth here (amazing I know) compared to worldwide 20%

I have a feeling that Germany are playing a little to their electorate, but seem more interested in controlling that things do not get out of hand again. They like their exports and possibly still feel guilty in Europe.

France however, and more correctly the French President, does seem more about punishing us, putting us in our box and controlling Tax Rates etc.

Sarkozy made a big deal of our Corporation Tax was jealous during the good times and, was beaten at Lisbon 2, and now wants to get his pound of flesh for being humiliated then.

I think its Sarkozy who is the real one to be wary of. His policies seem to be much more detrimental for us than Germany's, and I think the CP tax is nothing more than a personal gripe of his.

In that respect, how countries are playing the euro card do not seem to be as straight forward as it seems. I cannot imagine Germany pulling the plug while Audi are investing in exports, and Germany are the real power

books4sale

Mr. Mac wrote: »

In 5 simple bullet points what would it mean for Ireland?

Well done, ya started a new thread about the same old ****e, give that man a medal, fair play...pat on the back for you!

Hey, ya know what, why limit to 5? I'll start one for next week and make it 10 simple bullet points. :cool:

Anyway here are my 5 bullet points.

.....

:pac:

old_aussie

If the EU does break up and Ireland's economy does collapse to the point of Ireland becoming a third world country financially, then you can expect the likes of Nike and Apple to show up at your door pretty soon.

Gareth2011

mistermouse wrote: »

On the news recently Audi are expanding their dealership network in Ireland and have 25% growth here (amazing I know) compared to worldwide 20%

I have a feeling that Germany are playing a little to their electorate, but seem more interested in controlling that things do not get out of hand again. They like their exports and possibly still feel guilty in Europe.

France however, and more correctly the French President, does seem more about punishing us, putting us in our box and controlling Tax Rates etc.

Sarkozy made a big deal of our Corporation Tax was jealous during the good times and, was beaten at Lisbon 2, and now wants to get his pound of flesh for being humiliated then.

I think its Sarkozy who is the real one to be wary of. His policies seem to be much more detrimental for us than Germany's, and I think the CP tax is nothing more than a personal gripe of his.

In that respect, how countries are playing the euro card do not seem to be as straight forward as it seems. I cannot imagine Germany pulling the plug while Audi are investing in exports, and Germany are the real power

I agree with you. I dont trust sarkozy at all. When he started pushing for Irelands corporate tax to be raised despite him knowing it could possibly push the likes of HP and Intel out of Ireland he still wanted us to do it. He is a bully and thats all there is to it. I said in a different thread would you trust someone who is so hell bent on fixing Ireland and europe he is letting his own country go down the tube?

Granted Europe needs to be fixed but he has to lay of Ireland and Ive a sneaky feeling we are f**ked at this stage because enda might agree to the corporation tax so we can stay in the Euro and Eurozone. I don't want france and germany shaving off the dole in line with Europe where things are alot cheaper, or raising taxes here be it coporate or income. Evil looking guy too :mad:.

Mr. Mac

books4sale wrote: »

Well done, ya started a new thread about the same old ****e, give that man a medal, fair play...pat on the back for you!

Hey, ya know what, why limit to 5? I'll start one for next week and make it 10 simple bullet points. :cool:

Anyway here are my 5 bullet points.

.....

:pac:

Knob

Nothing wrong with the thread. If u don't want to contribute then stay away. Others disagree with u so leave it out. Whole purpose of the site is to spark debate and dialogue. Apologies if it was discussed before but we all cant follow every bloody thread on here.

Go back to sleep.....

Dr Galen

As a theoretical excercise, an alternate future history thing, this could be an interesting topic. Sadly that won't be happening in this thread.

Cheers

DrG