Euro is the poison in our pockets

FINANCE Minister Brian Lenihan said recently that low euro interest rates and mass immigration from eastern Europe after 2004 were the main reasons for the overheating of the Irish economy which led to the recession.

The Central Bank has told us the economy will shrink by more than 8% this year and unemployment will peak at more than 15%.

On top of that, Taoiseach Brian Cowen tells us that because of our euro membership, we cannot devalue our currency and so Irish workers will have to take a cut in wages in order to become internationally competitive again.