Ireland complaint on Euro?! What a laugh!
Irish has no one to blame but themselves, it wasn't "Euro's Ponzi scheme" that went down, it was the Irish one to do it. Growing up by create a sort of offshore has this issues. They waged and still wage too much for the wealth Ireland can produce, they went looking for investors by basically helping them to evade taxes.
On the other hand, an offshore-State right next to UK is little more than unfair concurrence. To get help they need to close their offshore, so the Ponzi scheme goes away and companies like Google may move out... too bad!
Wow you really have no idea do you, Ireland is where I went to school & college, and I left just at the height of the whole thing in 2009.
The problem is not and has never been that ordinary Irish people borrowed too much, many did, but certainly not the majority.The banks however lent massive amounts to a small number of builders and speculators, who when the crash came, brought the banks with them.
And what happened? The Irish government guaranteed to bail out the banks if needed, and that is exactly what has happened. The government essentially said the tax payers will cover it. That is everyone, whether they borrowed or not.
In a way yes the Irish do have themselves to blame, thay are the ones who joined the Euro, and signed away many of their freedoms as a result. But make not mistake, it was membership of the Euro that caused the property bubble, being part of the Euro gave Ireland record low interest rates at a time when the economy was booming. I was there, I saw the crazyness of it all. 100% mortgages at rates of 4%. I saw inflation jump through the roof. Minimum wage was €8.50 an hour.
Now the Uk was doing the exact same at the time, to a certain extent, however they have the pound, which has acted as a buffer using devaluation to give everyone a big wage cut.
You think this is ordinary people who did this? This is the work of a few in powerful places who have f****d up and are making everyone pay. I had a great job, I worked in Sun MicroSystems before being fired. And then there was nothing me or my family could do, I couldn't even get a job in a slaughter house cleaning up animal guts. So we returned to China.