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Then there are the epic verses of Irish bank strikes. A grand tale of ah self-organizing standard of living and financial independence or so. That is rents deferred to BoE's prime dealers either bank of the sea.
The innerboob repository is rather hazy with piddly detail such as precisely how many strikes occurred between 1960 and 1980. Perhaps that is all best forgotten? On account of the transformative power of EU membership.
Diversity is the key to economic and political evolution.
As against that, a government with some economic foresight (a rare occurrence) would have been able to raise domestic interest rates to dampen the Celtic tiger bubble 2001-9 resulting in less of a crash when that bubble burst. (At the time the ECB was maintaining a policy of interest rates much too low for a booming Irish economy but geared to the needs of a German economy reeling from the costs of German re-unification). It is a moot point as to whether Irish governments of the time would have had the foresight to do so: my guess not so much. Charlie McCreevy, Finance Minister at the time, reflated the economy with tax cuts at a time when it was already booming. A bit like Trump now.
So the probably answer to your question is that it is doubtful whether Ireland would be any better off now with its own currency, and most probably not. (The UK, on the other hand, has probably just avoided a mild post referendum recession because it has its own floating currency) which has enabled it to adjust to the Brexit vote shock.
Index of Frank's Diaries
by Frank Schnittger - Jul 14 11 comments
by eurogreen - Jul 8 7 comments
by ARGeezer - Jul 10 16 comments
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by gmoke - Jul 439 comments
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by gmoke - Jun 187 comments
by Oui - Jun 1617 comments