Daily Mail
"This month Portugal, Spain and Greece have seen their credit ratings downgraded. It is likely the ratings agencies will hit Ireland's next. They will then find it not only more expensive to borrow money, but more difficult to find any investors willing to lend to them."
...In the days before the euro, when Italy had the lire and Greece had the drachma and so on, a country in such trouble could devalue its currency to help increase its exports and take pressure off its jobs. Escape from the euro would also allow a country to regain control over its own monetary policy."
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