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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 ]
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 ]
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 ]

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