Its a real shame Ireland can not produce its own money

  The Euro is a good thing and it allows members states to collectively pool their resources under one economic unit. Thus a Euro is not just a monetary unit that day traders can play with. But as a business owner or a consumer. You know a Euro is also able to purchase a basket of goods and services that are produced and sold in Europe.

  With the Euro, not only can I can set up bank accounts in Luxembourg, buy German cars, or vacation to Dublin. But I can sell Euros to day traders who simply want to trade Euros like little kids trading baseball cards. So there are a number of benefits of having a single monetary unit stretching across Europe.

  Now for the bad news. Ireland can not print Euros. The European Central Bank does. And they thus get to decide monetary policy for Ireland so long as Ireland chooses to use the Euro as its domestic currency. This very much complicates matters for Ireland since they are now being leashed to some foreign bank they are not even really a part of.

 I suggest Ireland just play it tough. And threaten to remove itself from the Euro if Europe tries to push Ireland into adopting austerity measures.

  Germany picks up the slack for much of Europe. It is through their trade surpluses with Europe that helps subsidize much of the Euro region. But they are also psychologically happy with it. If they were not so mercantilist, then they would not have to subsidize the rest of Europe. They get gratification that they ship out more goods than they receive. And that is an illness that only they themselves are responsible for.

  You see, many countries across Europe post trade deficits with Germany from having purchased German cars and German industrial goods. Without German productivity, Europe would not be as productive. However, Germany would not have it any other way. Although they subsidize much of Europe, they would absolutely not accept that Germans drive non-German cars, or Germans use non-German machinery. They want Europe to post trade deficits with them, thus they want to subsidize Europe. Why complain about Greek debt when German companies insist on making every Greek use German products thus creating that debt. Germany can always concede Volkswagon sales to Peugeot. But that goes against German pride. This is because Germans are mercantilist.

  Either stop complaining about the debt, or stop posting trade surpluses. You cant have both.