Why Ireland should default

@ plastic paddy: I agree completely !! The return to the Irish currency will enable Ireland to move forward and recover quickly. P.S. I am still curious about who wrote the article.

beachline the result might be the same as Iceland's crisis whereby they were able to devalue the currency thereby making their exports more competitive. Secondly it would allow us to control inflation more easily and allow us to act in our interests. Without EMU restrictions we could also bar persons from removing money from our banks for a defined period just as Iceland have done successfully and as FDR did so successfully for the USA. These actions are not just desirable but necessary. We should tell the IMF and EU to go f**k themselves and their bailout of the investors who gambled their money only for the house in this instance the Irish taxpayer to guarantee their bad bets. utterly ridiculous.

Good morning George Dillon ! My, you seem to take exception to the fact that I wanted to know the author of this article. Was it you?? An article about the possibility of Ireland returning to the Irish currency did appear in the Financial Times, and it was well written by Megan Greene. She listed pros and cons and facts to support her opinion. Good girl Megan!!

beachline: What you write is nonsense. there is nothing inflammatory abut this article, it could have appeared in the Financial Times or Wall Street Journal. I suppose you think those are radical newspapers, beachline? Have some sense. It is not a question of whether Ireland should refuse to pay the debts incurred by private banks (I never use the word "default" because it not appropriate or accurate here) but when. And the author makes a good analogy with the Versailles Treaty. Ireland is being forced to pay war reparations. The trouble is--Ireland didn't lose any war! To continue the war metaphor, though, Quislings would be an apt description of the rats who run Ireland.

There is no byline on this story. I would like to know who wrote it and what measures the author thinks should be taken if and when such a drastic step is taken. What would be the consequences of defaulting on the debt, returning to the Irish currency, but, remaining in the European Union ??? This seems to read like an inflammatory article used strictly to stir up trouble. Anonymous author---when you put forth remarks that will have long standing consequences you must also put forth solutions to your proposals.