Is the Euro to blame for Ireland's woes?



Gisela Stewart


Member of Parliament Gisela Stuart

“Never again let it be said that Germans lack a sense of humour: last week Angela Merkel declared that the euro was “the glue that holds Europe together”. The opposite is nearer the truth. Proponents of economic and monetary union (EMU) argued that it would bring about the convergence of its participating economies, but it was always going to produce divergence."

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Cilian Ryan


Professor Cillian Ryan

“Many commentators in the UK are pointing to Ireland’s presence in the Euro for its current economic woes. This is somewhat misplaced. The ‘Celtic Tiger’ was founded on solid economic grounds. Ireland is an attractive location within the Eurozone for overseas firms due to its English speaking, well-educated, and relatively young workforce and low corporate tax rate.  Without the Euro, it is arguable that the boom years may never have happened.”

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