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Countdown to €/£ parity | 102 comments (102 topical, editorial, 0 hidden)
Re: Countdown to €/£ parity (4.00 / 2)
Ireland is the most exposed EU country of all, and what is coming there will test the Euro to destruction

Ireland has, fortunately, a small enough GDP that a government guarantee of 2-3 times GDP is has been put in place is only about 5% of the Eurozone's GDP. Ireland may become a wholly owned subsidiary of the European Central Bank, but it won't take the Euro down with it.

However, the days where the EU could have a monetary union and no EU-wide fiscal or industrial policy are likely over.

Most economists teach a theoretical framework that has been shown to be fundamentally useless. -- James K. Galbraith

by Carrie (migeru at eurotrib dot com) on Sat Dec 13th, 2008 at 10:52:08 AM EST
[ Parent ]
Re: Countdown to €/£ parity (none / 1)
I'm sure I read that Ireland's external debt was over nine times its GDP?

"The future is already here -- it's just not very evenly distributed" William Gibson
by ChrisCook (cojockathotmaildotcom) on Sat Dec 13th, 2008 at 03:09:17 PM EST
[ Parent ]
Re: Countdown to €/£ parity (none / 1)
I'm just going with the size of the recent bank bailout. 9 times GDP would put us in the region of 15% Eurozone GDP...

Most economists teach a theoretical framework that has been shown to be fundamentally useless. -- James K. Galbraith
by Carrie (migeru at eurotrib dot com) on Sat Dec 13th, 2008 at 03:21:42 PM EST
[ Parent ]

Countdown to €/£ parity | 102 comments (102 topical, 0 editorial, 0 hidden)
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