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Greece pretty much screwed up Greece. Source: I'm Irish, we screwed up Ireland.
by secfirstmd 8y ago
Greece pretty much screwed up Greece.
Source: I'm Irish, we screwed up Ireland.
- Brakenshire 8y agoIreland was surely screwed up by loose Eurozone monetary policy in the middle of its massive housing bubble.
- secfirstmd 8y agoYep
- jessaustin 8y agoIreland could hardly pursue appropriate monetary policy as a member of the currency union. Euro monetary policy is totally driven by Germany's needs. So are we saying that the real screw-up was joining the currency union?
- barrkel 8y agoThere are ways to mitigate that - e.g. increased taxes based on land value and stronger legislation around lending. Trouble is, rising house prices are more popular to politically powerful groups.
- Brakenshire 8y agoYeah, can’t really see that being politically viable.
- soVeryTired 8y agoHot money flowing into a country does crazy things to it. It takes both an irresponsible borrower and an irresponsible lender to make an irresponsible deal.