Village Magazine: Ireland should abandon the Euro which was established for political not economic reasons and so has not worked

“Eur-over”

By Anthony Coughlan

The political purpose of establishing the Eurozone was to reconcile France to German reunification following the USSR’s collapse.

This political agenda used economic means that most economists who were not EU-ideologues regarded as quite unsuitable for that purpose. The irrationality of this ill-conceived and doomed project is now playing out before our eyes.

The value of having one’s own currency, and with it the ability to follow an independent exchange rate policy, was shown decisively in Ireland from 1993 to 1999.

This was the only period in the history of the Irish State when we followed an independent exchange rate policy and, in effect, floated the Irish pound, giving us a highly competitive exchange rate. This boosted Irish exports, inhibited competing imports and gave us the “Celtic Tiger” years of high economic growth.

Read More at Village Magazine

Aon Fhreagra Amháin

  1. […] Anthony Coughlan / Village Magazine – Eur-over; Ireland should abandon the Euro which was established for political not economic reasons a…: The value of having one’s own currency, and with it the ability to follow an independent […]

Freagra

Líon amach do chuid faisnéise thíos nó cliceáil ar dheilbhín le logáil isteach:

Lógó WordPress.com

Is le do chuntas WordPress.com atá tú ag freagairt. Logáil Amach / Athrú )

Peictiúr Twitter

Is le do chuntas Twitter atá tú ag freagairt. Logáil Amach / Athrú )

Pictiúr Facebook

Is le do chuntas Facebook atá tú ag freagairt. Logáil Amach / Athrú )

Pictiúr Google+

Is le do chuntas Google+ atá tú ag freagairt. Logáil Amach / Athrú )

Ceangal le %s

Molann %d blagálaí é seo: