the idea that Ireland could sort out these problems if they could just devalue their curre

ncy are nonsensical, same with interest rates at the moment

though admittedly the low interest rates that lead to the property bubble helped to inflate it to a far greater degree then it might otherwise have reached - however, the chances of a finance minister actually having the guts to deflate the boom of the time even if they were able to by raising interest rates is laughable - or perhaps i'm just judging all of them by Gordon Brown's record in this country...

Posted By: Ralf Scrampton, Nov 22, 14:08:24