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In the 1980's the punt had lost a lot of value relative to Sterling based not on trade or competitiveness issues, but because the rating's agencies etc. decided that a small currency always constitutes a greater risk of volatility and were generally dismissive of such a small economy/currency.
And that had no impact on trade or competitiveness between Ireland and the UK?

In the Neurozone, there can be only one.
by Migeru (migeru at eurotrib dot com) on Tue Sep 24th, 2013 at 09:21:36 AM EST
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It is remarkable the degree to which Ireland's trade surpluses both now and then had little relevance to exchange rates then or GDP growth now


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by Frank Schnittger (mail Frankschnittger at hot male dotty communists) on Tue Sep 24th, 2013 at 12:09:28 PM EST
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But Ireland was running a current account surplus back then?

In the Neurozone, there can be only one.
by Migeru (migeru at eurotrib dot com) on Tue Sep 24th, 2013 at 03:25:05 PM EST
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