The best currency to hold in troubled times
I've just come back from Ireland. Recession or not, I found it expensive. I'm from London, and I'm used to having to pay too much for everything. I'd always thought things were more reasonably priced in Ireland - they were last time I went. But, whether it's food, drink, hotel accommodation or even labour, Ireland is not a cheap country. It should be. You experience a bust, you lower your prices, you get competitive again. But they can't do that. There's this thing that's strangling them. And it's not just strangling the Irish, but the whole of southern Europe. I'm talking, of course, about the euro. And the question I'm asking in today's Money Morning is: "Will Ireland stay expensive?" In other words, what's next for the euro?
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