If the Irish government still had their own currency, they would be able to devalue; their debts would become cheaper, and they wouldn't still be suffering in 2012 for a crisis that happened in 2008.
In addition, the original cause of the ridiculous lending from banks - both in the US and EU - was ridiculously loose monetary policy, as a result of over-large governments trying to stimulate their economies out of the recession of the early 2000's. If banks have more money available to them, they're going to loan it out: that's their business.
If only we had more small and independent countries with their own currencies.
In addition, the original cause of the ridiculous lending from banks - both in the US and EU - was ridiculously loose monetary policy, as a result of over-large governments trying to stimulate their economies out of the recession of the early 2000's. If banks have more money available to them, they're going to loan it out: that's their business.
If only we had more small and independent countries with their own currencies.