So I've come to the realisation that I should probably pay more attention to current affairs. :S

 

Noticed a few Irish posters about. A bit heavy but just wondering what your take on the whole situation is? I'm only just reading up on it now. But the "accidental" cutting short of Brian Cowan's address yesterday by RTE has caused a fair bit of uproar. Censoring the Taoiseach's response to the grilling from TV3's Vincent Browne is a bit of a disgrace.

 

The full video has since been posted on their website: http://www.rte.ie/news/av/2010/1121/media-2858512.html#

It looks like a case of "anything British banks can do, Irish banks can do better". Our economy has been well and truly screwed up by the banks and the same has happened even more spectacularly to the Irish economy.

 

Naturally some Tories over here are gleefully predicting the collapse of the euro with Ireland withdrawing so they can devalue. If that happens other countries may well follow suit resulting in chaos. However, some Tories are so keen to see the euro fail that they don't care how many people get hurt in the process.

If the euro does collapse in Ireland, would that mean that the English pound would become the main currency in Ireland, given that it's probably wouldn't have enough time to re-introduce and print Punts? I'm sure all those Tories still reeling after the events of 1920 will be dancing with glee will be delighted.

If the euro does collapse in Ireland, would that mean that the English pound would become the main currency in Ireland, given that it's probably wouldn't have enough time to re-introduce and print Punts? I'm sure all those Tories still reeling after the events of 1920 will be dancing with glee will be delighted.

As the main reason for leaving the euro would be to devalue the currency, they would have to go back to the Punt. There would be no point in going from one currency they don't control to another. Obviously it would take time to achieve the switchover which may even be another reason for it not to happen.

And Osbourne is still championing Ireland as an example of cuts and as an example we should be following.

 

Can someone please do us all a favour and assassinate Osbourne? Cameron too. The fact that the Irish Economy is f***ed really should be a sign that the cuts won't work, naturally the tory's don't care about the little people and they'd love to sack even more government employees.

€110 billion bailout!!! And some estimates are significantly higher. Why in the world did the Irish government take responsibility for the reckless debt of its banks? Certainly it's better to have a bankrupt bank than a bankrupt government? Interesting that now it is looking like Iceland made the right decision by allowing the banks to collapse and foreign investors to lose all the capital. After two years of painful austerity, Ireland is in a recession and still needs a bailout.

 

I used to live in Chicago where an Irish Miracle developer strolled into town about 6 years ago and started building a gigantic 2,000 foot apartment tower where 1,300 people were going to buy $1-$40 million apartments. Give me a break!! Anglo Irish gave him a gazillion dollars he got as far as a massive hole in the ground before the bubble burst and he left town. We're left with a huge hole, and the Irish government and citizens are left with a €100 million bill. Meanwhile the developer is lamenting his losses in a New York townhouse worth more than my life. Unreal.