STERLING FALL A CHALLENGE TO IRELAND! (G029)
The Irish Independent
By Brendan Keenan
Saturday January 10 2009
Mr Lenihan looks set to spark a diplomatic war of words after he suggested that the British government was not meeting its communal obligations as a member of the EU, even though the UK is not a member of the euro.
“It is a question for all of us in the EU as to the extent to which a competitive devaluation can be used as any kind of a weapon,” he said.
“The fall in sterling is causing us immense difficulties.”
Sterling has fallen by a third from its peak values against the euro as the Bank of England cut rates and indicated it would be prepared to countenance zero rates and the deliberate creation of money.
“They have in effect produced a devaluation of the pound through expansion of the money supply. That has put us under immense pressure,” Mr Lenihan said.
The Finance Minister queried whether Britain’s decision not to join the euro should allow it this kind of freedom in its exchange rate.
The small firms arm of the employers’ body IBEC says 70pc of small companies who export do so into the UK market, which accounts for one third of all small business exports, and estimates that around 60,000 jobs in small companies are dependent on UK trade links.
The small firms lobby group ISME claimed 95,000 Irish jobs were at risk from sterling’s fall, as companies exporting to the UK or competing with UK imports cut back on employment and investment.
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Politicians are failing to tell the truth, but so are almost all wanabe Politicians and Snivil Cervants.
The fact is that even if EVERY British MEP wanted change in The EU it would achieve NOTHING.
Every single British Politician of EVERY Party, elected since before we joined the EUropean Common Market, has promised to change The EU’s CAP – In 40 Years they have achieved absolutely NOTHING!
PLEASE POST THIS TAG AS FOLLOWS:ON YOUR eMAILS & BLOGS, FORUM POSTINGS & MAILINGS – GET THE MESSAGE TO THE PEOPLE IT IS OUR BEST HOPE AS WHOEVER IS APPOINTED WILL MAKE NO DIFFERENCE AS PROVED!
I SUGGEST – since there is clearly no political party of repute, advocating or campaigning for withdrawal of these United Kingdoms from the EU and restoration of our independent sovereign, democracy, with Justice & the right to self determination in a free country.Deny the self seeking & meaningless wanabe MEPs the Mythical Mandate for which they clamour. Diktat is imposed from The EU but Law should be made at Westminster, for our Country & our Peoples.
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