Irish euro woes

The report from the Economic and Social Research Institute indicating that Ireland will see 75,000 people leaving its shores next year in search of work is truly devastating.

Emigration of more than 1,000 a week in 2011 followed by 75,000 next year is catastrophic for a country that has an official unemployment rate of 15 per cent, double that of Britain.

With VAT set to rise in Ireland to 23 per cent, there is every likelihood of the four years of recession turning into a depression. For as long as Ireland retains membership of the euro then there is no way out.

The over-valued euro means that it is too expensive a place for British tourists to go to, and their exports are made too expensive for the British market to buy.

The European Union is already dictating the terms of the Irish budgets and it looks like there will have to be another IMF-EU bailout. It is time they stepped in and helped.

Thank goodness we never joined the euro here in Scotland, despite Nick Clegg and Alex Salmond backing membership for the last decade.

M Smythe

Dalry Road

Edinburgh