New currency and devaluation now
Published 24/11/2010 | 05:00
THERE must be an alternative to the EU/IMF takeover of Irish economic policy. To borrow now will mean years of repaying the new imperialists.
Ireland should instead leave the eurozone and avoid an expensive bailout with the economic misery it will mean for many years ahead.
It should launch a new punt currency with a devaluation which will increase exports to the US and UK and guarantee Ireland sovereign control of its own currency and budget measures.