Ireland shouldn’t even be contemplating a euro exit

IN recent years, there has been some academic discussion on whether Ireland should leave the euro and re-establish its own currency.

A small number of advocates of a euro exit have made the choice sound as simple as flipping a coin. The reality, however, is far more complex, and the risks very real.

The argument presented for an exit is that defaulting on our debts and establishing an independent, devalued currency would somehow give international financial markets confidence to invest in Ireland and make us more competitive in terms of international trade.