Could Ireland collapse the euro if they wanted..

Mal-Adjusted · 25-11-2011 11:48PM

*gets popcorn, waits for mod*

GalwayKiefer · 26-11-2011 12:04AM

Ya know there's the Thunderdrome for this kind of shite right?

WoollyRedHat · 26-11-2011 12:09AM

We should splinter off and have a new currency, and there will be a competition on what to call it, and another competition on what the design will look like and loads of jobs will be created, what with all the money designing and stuff.

And we'll invite the Spanish, the Italians and Portugeese ( Not the Greeks though, can't trust the ****ers) and we'll give out free money, and we'll throw a huge currency party and it'll be great fun and then there will be no more recession and then we can get back to doing what we're best at, buying ridicolously priced houses while playing golf.. it will be great like

Wetai · 26-11-2011 12:16AM

GalKiefer wrote: »

Ya know there's the Thunderdrome for this kind of shite right?

That could apply to a LOT of AH's threads, TBH.

nice_very · 26-11-2011 05:40AM

I mentioned this as a bargaining chip/threat weeks ago, and the reply was - politicians would never be that underhand... lol

why not???? if Enda went to europe and said.... look we will bring down the euro if yez dont back the fcuk up and downgrade our debt, germany would lose a lot more than us, and the other euro banks we are bailing out... I think its a valid option albeit a threat, but for once can this country have balls and influence something...???

Caoimhín · 26-11-2011 07:10AM

tacofries wrote: »

i think no actually. were too small

Really? How, why?

old_aussie · 26-11-2011 07:12AM

No

Caoimhín · 26-11-2011 07:15AM

old_aussie wrote: »

No

Old aussie,

Im thinking about going to Oz on my holidays. Any suggestions on what to see?

I quite fancy going to your "outback" however snakes scare me. Will your customs allow me to bring my gun?

10green bottles · 26-11-2011 07:23AM

Ireland has no known deposits of gas or oil off its shores.Thanks for sharing all the same and i will see you in the prison thread very soon !!:pac:
Watch out for the soap now !!

26-11-2011 07:30AM

Perhaps that question should be,
Could the Euro collapse Ireland?

The answer is yes it did, Germany used Ireland and other countries as "growhouses" for their pension money.

Babyboomer pensions maturing is one of the main causes of the current financial mess, banks faced a looming surge in demands for payment from the babyboomers who were all retiring at about the same time and they realised that there would be insufficient funds to pay out. So they had to grow the money quickly by making more and more risky investments.

As part of the Euro, they were secure in the knowledge that their investments wouldn't be devalued by currency fluctuations. The boom times of the CT proved the strategy to be correct, but they didn't foresee the limitations to growth caused by the physical limits to how many houses, shops etc that could be built and sold at ever increasing prices.

At the same time the US was overloaded with subprime mortgages (their equivalent problem). Their collapse exposed the German banks problems when the Irish banks failed and were bailed out.

Peak oil then sneaked up and high fuel prices killed the growth.
No increases in oil supply > no growth > no spare money to pay debt > debts growing = currency crisis.

Whether the Euro collapses or not, the root causes are still there and will cause us real problems in the future.

26-11-2011 07:43AM

DEFTLEFTHAND wrote: »

Any truth to the story that a test run of the Punt was carried out by the central bank during the week?

Any currency change over will be planned in great secrecy, to avoid capital flight (probably too late for that).

Any sane government or business/bank ought to have a (Business continuity plan) for every realistic event/disaster so that they aren't caught out and hopelessly unable to respond.

Just having a contingency plan, doesn't mean you're going to use it.

As for the original question, I don't know.

My guess is that there is about a 20% chance of a major event over Christmas.

books4sale · 26-11-2011 07:53AM

Snake in the grass = Euro sceptic

Don't let them spread their propaganda, the end result is we'll all be worse off while gettin their ching ching groove on.

getz · 26-11-2011 08:04AM

Deleted User wrote: »

Any currency change over will be planned in great secrecy, to avoid capital flight (probably too late for that).

Any sane government or business/bank ought to have a (Business continuity plan) for every realistic event/disaster so that they aren't caught out and hopelessly unable to respond.

Just having a contingency plan, doesn't mean you're going to use it.

As for the original question, I don't know.

My guess is that there is about a 20% chance of a major event over Christmas.

that would be a good quess,germany itself is on shaky ground,its debt problem is big,only thing no one is talking about it. as far as contingency plans go,i know the UK has done its home work in the event of a EU going tits up.

Ellis Dee · 26-11-2011 08:11AM

No, we're something in the region of one per cent of the Eurozone in economic terms. We're much, much bigger in delusions of grandeur terms, but still not big enough to be able to sabotage a continental project.

Come to think of it, we're not quite that dumb, either.:rolleyes::rolleyes:

Caoimhín · 26-11-2011 08:34AM

Deleted User wrote: »

Any sane government or business/bank ought to have a (Business continuity plan) for every realistic event/disaster so that they aren't caught out and hopelessly unable to respond.

I have gold hidden in the stump of a tree.

getz · 26-11-2011 08:52AM

Caoimhín wrote: »

I have gold hidden in the stump of a tree.

thats fools gold

philologos · 26-11-2011 08:53AM

One could argue that the Euro is already collapsing with or without Ireland's direct involvement in doing so.

Caoimhín · 26-11-2011 08:57AM

getz wrote: »

thats fools gold

I am indeed a fool. But im an armed fool.

"Before all else, be armed."
Niccolo Machiavelli

getz · 26-11-2011 09:10AM

Caoimhín wrote: »

I am indeed a fool. But im an armed fool.

"Before all else, be armed."
Niccolo Machiavelli

i hides under the table

Caoimhín · 26-11-2011 09:18AM

getz wrote: »

i hides under the table

Damn right.

Roooooah.

Laois_Man · 26-11-2011 10:36PM

philologos wrote: »

One could argue that the Euro is already collapsing with or without Ireland's direct involvement in doing so.

The Euro won't see the end of 2012 Quarter 1 at the latest IMO .

Stock up on your beans!

26-11-2011 10:41PM

Laois_Man wrote: »

The Euro won't see the end of 2012 Quarter 1 at the latest IMO .

Stock up on your beans!

About a 20% chance over the Christmas period I suspect, two years max, unless of course the grand fiscal union goes ahead and Ireland is included.

Life will carry on without it, we're not going to be in the "shotguns & beans" phase for a while yet. It will play havoc with the prices of imported goods though.

Laois_Man · 26-11-2011 11:07PM

Deleted User wrote: »

About a 20% chance over the Christmas period I suspect, two years max, unless of course the grand fiscal union goes ahead and Ireland is included.

Life will carry on without it, we're not going to be in the "shotguns & beans" phase for a while yet. It will play havoc with the prices of imported goods though.

Yeah I saw you said that on page 2. You probably know alot more than me in fairness. But when you see the cost of borrowing for Italy, and Spain saying they'll need help in December, even the Germans struggling to auction bonds,and every serious investor in the world trying to get as far away from Euro as possible, I do think it'll survive over Christmas. But not much longer afterwards!

And of course, havoc with the price of imported goods means havoc with the price of oil which means havoc with the price of everything!

starlit · 26-11-2011 11:16PM

I don't know I think the EU will have the final say if Ireland can collapse the Euro in Ireland change it to another currency or change back to the punt or sterling. Ireland could propose it but they would have to make agreements with the EU.

26-11-2011 11:28PM

Laois_Man wrote: »

Yeah I saw you said that on page 2. You probably know alot more than me in fairness. But when you see the cost of borrowing for Italy, and Spain saying they'll need help in December, even the Germans struggling to auction bonds,and every serious investor in the world trying to get as far away from Euro as possible, I do think it'll survive over Christmas. But not much longer afterwards!

And of course, havoc with the price of imported goods means havoc with the price of oil which means havoc with the price of everything!

I'm no expert on this situation, but I have decided that I would find out as much as possible to avoid being completely exposed by any collapse or whatever may happen.

Things like taking out extra cash just before Christmas and filling up the car is the most that many can do, just in case the ATMs freeze up before new years day. The smart people have already moved their savings.

At the end of the day, there is little most individuals can actually do, except avoid panicking when something does happen.

Could Ireland collapse the euro if they wanted..

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