The Euro going down against the dollar is not a bad thing as it improves the competitiveness of European industry at the time it needs it most.

The big difference between Ireland oday and Ireland in the recession of the 1980's is that:

1.  We now have a Dept/GDP ration of 25% now versus 90% then, and

2.  We have the € which insulates us against enormous hedge fund speculation and other speculation which was going on against the IR£ at the time - resulting in 18% interest rates as the Government tried to shore up the currency at the cost of ruinous interest rates which helped to destroy the real economy.

The € may not be perfect, but it is a darn sight better than having a small national Currency (remember the UK£ when it fell out of the EMS) which can be speculated against and almost destroyed by the Global behemoths.(Or mismanaged as the Iceland financial sector was).

You betcha! (as Palin might say)

Vote McCain for war without gain