Breaking euro link and devaluing punt bad idea

Breaking the euro link and devaluing the new punt would be a woeful and historic blunder, and simply a beggar-thy-neighbour policy.

Unlike Iceland, whose abundant geothermal and hydropower resources provide them with over 80% of their energy requirement, Ireland has an 88% import dependency for all fuels.

Big increases in home heating and commuting costs would cripple the economy and set off dangerous inflationary forces. Our problems result from bad policy-making from our political class, and not our euro currency. Blaming it is an easy option but it does not lend itself to good analysis.

AW Lally

Merrion

Dublin 4