There is a line of argument along these lines coming from some of the Euro-sceptic economic commentators and others who are facing up to the reality of current circumstances.
It is that following our entry into the Euro, Ireland was constrained by interest rates so low that they were not in Ireland’s national interest. This is given as a key reason for the expansion of Ireland’s property bubble. This rationale presents the issue of our property bubble as if it was out of government control. Read the rest of this entry »