Antiausterian policies in small countries - feasible? | 70 comments (70 topical, editorial, 0 hidden)

Re: Attempted intimidation... (none / 1)

Such a pledge would be prima facie incredible, for the simple reason that if upholding it were possible, they would not need to issue New Punts.

You should not make obviously incredible threats or promises. It gains you nothing and makes people more likely to call upon you to make good on future threats and promises, which is almost always expensive.

- Jake

Friends come and go. Enemies accumulate.

by JakeS (JangoSierra 'at' gmail 'dot' com) on Fri May 4th, 2012 at 09:44:33 AM EST
[ Parent ]

Re: Attempted intimidation... (none / 0)

The USA certainly has been impressed with the effectiveness with which the Chinese have maintained the peg of the renmimbi to the dollar.

"It is not necessary to have hope in order to persevere."

by ARGeezer (ARGeezer a in a circle eurotrib daught com) on Fri May 4th, 2012 at 11:16:44 AM EST
[ Parent ]

Re: Attempted intimidation... (none / 0)

Different situation. China is maintaining an undervalued peg. Ireland would be maintaining an overvalued peg.

The former is trivial, the latter is impossible.

- Jake

Friends come and go. Enemies accumulate.

by JakeS (JangoSierra 'at' gmail 'dot' com) on Fri May 4th, 2012 at 11:18:19 AM EST
[ Parent ]

Re: Attempted intimidation... (none / 0)

In that case it might be necessary to devalue the Punt wrt the Euro so that the Punt is slightly undervalued. Even that would seem better than what is currently on offer from the Troika.

"It is not necessary to have hope in order to persevere."

by ARGeezer (ARGeezer a in a circle eurotrib daught com) on Fri May 4th, 2012 at 12:31:54 PM EST
[ Parent ]

Antiausterian policies in small countries - feasible? | 70 comments (70 topical, 0 editorial, 0 hidden)

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