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View Diary: Ireland ready to take the Euro hostage (256 comments)

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  •  I think it would, (1+ / 0-)
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    although perhaps in a reduced form. If you look at the problematic and recalcitrant countries, they're the ones which are more or less economically independent from France and Germany.

    However, most countries aren't. The Czech Republic, Slovakia, Slovenia, and, to a lesser degree, Poland, are basically service areas for the German, Austrian, and French economies. Here's an example from my country: We export 66% of our GDP, and 90% of our exports are to Germany, Austria, France, Italy, and Croatia. If relations between us break down, we're eating grass.

    In short, a large part of the EU is economically tied to the centre and cannot afford to abandon it. Spain may go solo. Portugal, perhapy. Italy, possibly. Greece theoretically. The rest? Probably not.

    Iuris praecepta sunt haec: Honeste vivere, alterum non laedere, suum cuique tribuere. - Ulpian, Digestae 1, 3

    by Dauphin on Sun Feb 27, 2011 at 07:16:34 AM PST

    [ Parent ]

    •  This has the feel of one of those (4+ / 0-)
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      k9disc, on the cusp, Nebraskablue, ozsea1

      'Lights going out all across Europe' months.  Events can spiral out of control in the next month so.  

      I believe that banking institutions are more dangerous to our liberties than standing armies. Thomas Jefferson

      by deepsouthdoug on Sun Feb 27, 2011 at 07:43:57 AM PST

      [ Parent ]

      •  We could be seeing the start of a populist economi (1+ / 0-)
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        c uprising that is analogous to the democratic revolution sweeping the Middle East.  The sleeping giant that is the working class may finally be awakening in Europe (and maybe even here in these United States!).

    •  Sanctions (1+ / 0-)
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      > I think it would, although perhaps in a reduced form

      OK, but in a reduced form would the EU have the ability (or even the legal justification) to impose the crippling economic sanctions which are posited as the reason Ireland "cannot" withdraw from the euro?


      •  That is my question. (0+ / 0-)

        IF, big, big, big IF, other countries put sanctions on Ireland.

        That is the premise of the argument, but no one other than Dauphin has even spoken of sanctions.

        IF I read that other countries are considering this retaliatory action, THEN I think Dauphin's scenario has merit.


      •  Well (0+ / 0-)

        companies like Microsoft or Apple probably didn´t build their European headquarters in Ireland because of the nice climate.
        But because of very low cooperate taxes.

        With their main markets in Europe probably the UK, France, Germany, Italy and Spain.
        Should there be even rumors of sanctions that probably would hurt Ireland.

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