Ireland should exit the Euro-Zone to prosper

fries

Why not ask 3 questions instead of 1:

a) do you want to exit euro?
b) do you want to avoid austerity?
c) is (a) or (b) more important to you?

Assuming the responses to a & b are obvious, you are left with the nation having to respond on what are their priorities.

If you do prefer to stay in the eurozone, then go ahead and impose austerity measures regardless of all protests, etc until you achieve the desired deficit.

If you prefer to avoid austerity then you cannot forcefully impose that on people - prepare "exit" plans and over time complete an orderly exit.

Under both scenarios there is a clarity to the market which currently is reading between the lines based on the outcome of the referendums.

meglome

Let's see...

A. No fluppin way. We'd have a fairly worthless new currency and everything we import would go up hugely in price. The currency fluctuations would likely make the multinationals move.

B. Yes I'm sure we all do. However many of us appreciate there are no magic money trees so we are having austerity one way or the other. Ole Merkel could directly order us all to go out tomorrow and spend like it's our last days and we'd still be having austerity. Austerity is to do with borrowing one third of all government spending.

C. Well it's an irrelevant question as both will still involve austerity, though it'll be worse out of the Euro as all our debts will still be denominated in Euro.