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Clive Corcoran
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Clive Corcoran has been an independent trader, on both sides of the Atlantic, for more than 20 years. In recent years he has been engaged as a course developer and tutor, providing international executive education workshops and individual mentoring. He is also an FSA registered adviser and... More
My company:
Technical Analysis Training
My blog:
TradeWithForm
My book:
Systemic Risk and Bipolar Markets
  • Irish Woes and the future of the Euro 0 comments
    Apr 9, 2009 6:16 AM | about stocks: FXE

    [Author's disclosure]
    The following piece is written with tongue in cheek and in no way is intended to show any disrespect for the home of my ancestors and for the undoubted suffering being endured within the Irish economy.

    Why can't Ireland take a bridge loan from the IMF to build bridges to stimulate their economy?
    Hopefully by the time that the bridge loans become due for repayment the activities of the Federal Reserve and other central banks will have reflated property prices around the world enough so that Ireland's banks can be taken private again and the Irish government can pay back the IMF.

    If not they can always take another bridge loan to build even more bridges.

    If the euro does fall apart - which certainly Germany, France etc will do their utmost to avoid but which may well hinge on how other troubled EMU members react to their domestic crises - e.g. Portugal, Greece and Spain - the systemic consequences would be like a magnitude 8 seismic event.

    Surely part of the reason for extending the mandate of the IMF was to avoid such a disaster.

    Themes: Currency Euro Stocks: FXE
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