Thursday 8 December 2016

Irish not to blame, the flawed euro is

Cambiz Alikhani, economics guru to the Guinness family, believes our EU partners should share our burden

Published 12/12/2010 | 05:00

WHILST a two-speed euro is a theoretical possibility, it is the least likely of all the outcomes. The reason is political rather than economic.

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It would essentially entail a return to a pegged currency as was the case under the European Exchange Rate Mechanism and I just don't see the politicians winding the clock back only to then espouse ambitions for a single currency again.

So, while from an economic perspective a two-speed euro may make sense, for the last two decades politics has overridden economics and I believe it will apply here too.

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