Euro in big trouble amid talk of Greek exit and fears of Irish turmoil

The Irish traded British Master for EU Masters. Ireland should become a Tax Haven for the wealthy.

@Bythebay, @sirpeter and @Irelandnorth I know you have probably have forgotten my wise words. "The Euro is a sinking ship and I am afraid its holed and going to the bottom of the ocean like titantic". I stated comments like these months ago and indeed years ago on many sites but you fools all called me Stupid, unwise and defended the Euro for all its obvious failures. Some called me a hun and a Orange b****** even a brit. I did say it would crash the end of this year or early next. It looks like sooner rather than later. The Republic of Ireland will go the way Greece will go. Down the pan. Its economy is unbalanced, too small to withstand the financial markets and borrowing costs will rise. Just as they are now in Spain. So after Greece its probably Spain, followed by Portugal and then Ireland. One will crash after the next just like a deck of cards if you like. Britain got its fingers burnt when we tried to follow the German mark in 1990. A common currency for all the European states is not possible. The ROI cannot now be upset as it voted to accept the Lisbon Treaty (after minor changes on abortion!). How stupid was that? Abortion? What has that got to do with economics? Nothing! The Republic of Ireland agreed to accept it on abortion changes. Thats the dumbness thing I have never heard. How stupid can you lot be? Supported by FF/FG/Labour/Greens and wait for it SINN FEIN. What does Gerry Adams know about economics. Like I have said on many occasions - nothing. Even absolutely nothing. He is the Osama Bin Laden of Irish Politics. A fool and a dunce (1st class).

Texas notched one of the biggest increases in size in a half-century, surpassing $1 trillion in annual economic output. The state gained nearly a full percentage point in its share of the U.S. economy during the decade, reaching 8.3% in 2010.**the usa today******Besides that they are a leader in high tech jobs with companies like Dell and Texas instruments. I don't that much about texas as I should, being an east coaster but with a growing economy and a lot of high tech jobs without a state income tax, go figure.

The US economy is showing distress at economic news from Europe. Tighten your belts mates, Greece's economic woes won't help you either!

Countries can leave the Euro currency and remain part of the European Union. Ireland has survived alot worse than the potential of an EU country going bust. It's the Germans who have far more to lose should the European Union go under, which it won't.

The Scandinavian countries plus the UK, Ireland and Iceland and perhaps the Baltic states make a far more workable and like minded group of economies. A new trading and monetary group formed from these would make more for sense for Ireland and these countries.

Thanks IrelandNorth! BrianO - actually the people of Texas are not doing well at all. The oil industry and people in it are doing OK but most of the other new jobs are minimum wage or part-time. Since Texans pay no state income taxes, the federal government has to pick up most of the cost of social services. Rick Perry's recent problems with Planned Parenthood lost the federal funding for it sending poor women in the state without medical care. The educational problems are rampant in Texas. The recent multiyear drought has left its agriculture in shambles. Of course, the rich in Texas ARE doing quite well - they always make out quite well where ever they are. Rick Perry's Texans want it both ways. They want the benefits of Union with none of the responsibilities.

Texas is doing quite well these days. The upside of union is balanced with the responsibilities of the union. As stated by IrelandNorth "Common currency equals less political sovereignty", since Ireland is a smaller player in the union they have even less political sovereignty, it's never easy being told what to do, it is the price you pay for giving up control.

There's a difference between being in the European Union (EU) proper and being in the common currency (Euro) zone. (It's a bit like first, second and third degree Freemasonry!) Many of the accession (former Soviet Union eastern European) states are now in the EU, but not in the Euro common currency zone. It's ultimately a macro-economic balance sheet decision. Like Northern Ireland (NI) within the United Kingdom (UK), or the rest of Ireland in the EU, the question is whether your state is a net beneficiary of British or Euro-Federalism or not? Common currency equals less political sovereignty. The UK is in the EU whilst retaining it's economic sovereignty - the purest form of sovereignty. There's an argument for Ireland as an island like Great Britian doing likewise, i.e. being in a two-track Europe. Geography predicates politics! The land that gave us the political philosopher Democritus - and his paradigm of rule by the majority, is being assailed by the plutocrats of the International Monetary Fund (IMF) and European Central Bank (ECB). The corporate loansharking barbarians are at the gates of the city of Athens. If it falls, Dublin and Ireland will be the next to fall to the Mongol hordes of the IMF/ECB! Guard your electoral franchise well, fellow Citizens of the Republic, or they'll have you breaking rocks in the quarrys of Golgotha!

@sirpeter: Still as dumb as ever...........@Murph46: We got so smart over night because we stopped listening to corrupt, retarded, pretentious American Corporations and there traitorous supporters in Dail Eireann.

Thanks sirpeter!

Bythebay & LoyalCitizen.Are ye going to answer Murph46?

I told you this twice yesterday,but no one had any answers,how did you eejits get so smart overnite?

@EphraimKibbey.Chaos.Greek banks would go bust.Greek companies would go bust.Unemployment would go up.The new drachma would be devalued by at least 50%,causing inflation.Food and energy prices would go through the roof.It would be an explosive cocktail.In one shot,a Greek exit could undo a large part of good work in Ireland and Portugal.You would see cascading bank defaults in Greece and everybody would take money out of Portuguese and Spanish banks.Political contagion and unrest.We have seen four elections in two weeks.In Greece,France,Italy and Germany.Contagion and panic is the big problem as money takes flight and you could have a run on banks.Spain is in big trouble and has a huge economy.To big to bail out.Civil unrest and riots as savings of the middle class lose 50% of their value.It could end very nasty all around.

EphraimKibbey, I realize those in the US often need very simplistic explanations of complex subjects however you need to go to finaicial sources for detailed information about the European Union and financial impacts to it. And no, Texas and Greece aren't comparable at all although that analogy is quite amusing!