Korean Job Discussion Forums

[thepeel]

An interesting read.

Ireland sounds like the type of place I would like to live when done school. Young, dynamic and booming.

Is it easy for Canadians to migrate there? Hows the weather?

[Junior]

They copied thatcherism, but accepted the euro.

[thepeel]

That seems to be the case, though I wouldn't have much long term faith in the Euro.

By the by, Alberta, the other booming area of the West, also did the same thing. The oil has helped greatly too, but it is interesting that the oil developments stop exactly at the Sask border... And the rest of the economy is growing quickly too.

Limited government, rule of law and free markets are the only paths to growth.

[Clutch Cargo]

They speak English.

[ChuckECheese]

[Wangja]

[mindmetoo]

Yeah I sure would love to move to Dublin. The weather is ideal if you don't like extremes in weather. Not too hot. Not too cold. Of course if global warming causes a change in the movement of warm water from the south atlantic to the north atlantic, Ireland will freeze over.

[thepeel]

Because some nations, Italy for example, are not meeting their obligations regarding deficits and the like. This deficit spending has to financed somehow and this could cause inflation in Europe, witch coupled with the high unemployment and low growth, brings about that most horrible of monetary ills; stagflation. Before the Euro, nations were able to use monetary policy as a very powerful tool of manipulating the economy, no more. But the initial circumstance hasn't chanced, Italy is still different, and has different monetary needs than, say, Germany (for example). The differing inflation rates in the different regions will likely lead to populist pressure to either 1) kick out the offenders or 2) withdraw from the Euro.

To meet her requirements Italy must either raise taxes to finance the spending, which would lower productivity (making Italian goods more expensive to produce and less able to compete with China, increasing already high unemployment) and decrease FDI or cut spending, which (aside from being politically impossible) would likely lead to recession while the economy adjusts. In the past, Italy would have devalued the lira and be done with it, and now she cannot.

I suppose in the end, the problem is that the Euro lets nations avoid their "financial day of reckoning", by hiding their structural problems behind a vernier shiny European economic health, which will only ensure that when that day comes, it will be much more difficult to handle.