Euro Area

[gaelic cowboy]

If you ask me there are several possible solutions to the problem of not having a nice even Euro.

1 Divide the North and South.
2 Unshackle the ECB
3 Integrate fully (not the new Sarkozy/Merkel fuzzy announcement I mean a federal state)
4 Eurobonds

To be honest option one is the best really in my view but it would prob take maybe 5 to 10 years in order to not cause a major flight of capital out of the Eurozone.

What there doing is trying to convince people in the South to accept lower everything along with higher inflation which balances the equation as a whole (Great for Germans the pressure is off them, not so great for Southern workers or there unemployed hence the rioting)

The only reason Ireland is bucking the trend is because we have reduced our costs of doing business, we have low inflation and it's getting lower plus were exporting a lot outside the Eurozone
We still however owe a lot due to the bailout which limits our growth potential due to austerity, Spain Italy Greece and Portugal have none of the things to be hopeful about that I stated are present in the Irish economy and all of the same bad ones.

Also it helps when your population is highly mobile and also crucially young enough still to relocate both internally and abroad.