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Headline: Irish test for Emu Source: Euromoney Date: November 2000 Author: Brian Caplen Ireland’s high inflation, say eurosceptics, shows that Emu is a failure. Without higher interest rates, the boom will shortly turn to a bust, they argue. Emu supporters recognize the problem but think a soft landing is still possible. The outcome may have profound consequences for Europe. An Irish crisis could hasten the arrival of a common economic government in the eurozone. It clearly shows the dangers of tying export-led tiger economies, such as Ireland, to mature restructuring economies, such as Germany. |
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