Archive for the ‘Globalisation’ Category

Irelands Cost of Living vs. the US, vs. the Euro v

Eanáir 19, 2009

Responding to a post by Rob Dreher (Mr. Crunchy Con) about “Europe’s Economic Agony“:

On January 14, Bloxhams – an Irish stockbroking firm – pointed out:
“The weakness of Euro membership for Ireland is highlighted into today’s Lex column.
With the UK doing what is needed to adjust to the new economic reality and devaluing its currency, Ireland is unable to devalue its currency to restore competitiveness. Therefore Lex points out that wages in Ireland will need to fall, something which is exceptionally difficult to achieve. While the Euro zone has provided us with the buffer of a central banking guarantee, the downside pain is in a loss of competitiveness against our nearest neighbour, the UK.”

I would like to point out, however, that at least in places like Ireland universal health care is an accepted part of the national infrastructure (like roads, police etc.) – not a right-wing ooga-booga talking point and socialist plot for world domination.

Consequently, the personal cost of living and financial security – in some respects – is far less than in the US.