James McKee

Ireland Showing Fresh Instability



Posted: Sunday, January 23, 2011

by James McKee
http://www.forex.tradingcharts.com

Ireland’s Prime Minister Brian Cowen’s decision to split the role of party leader and Prime Minister does not sit well with the Irish people and many believe it is a sign that Ireland still has a lot of growing up to do.  Cowen is already being held responsible for the catastrophic financial situation seen in Ireland last year that required a bailout by Germany and other countries.  This bailout resulted in some of the most severe austerity measures seen in Europe to date.  In a word the Irish people are irate and they have every right to be.

Aside from the strange move with regard his role as Prime Minister Mr. Cowen also went forward with an initiative to discharge his entire cabinet.  This move left his administration in an uneasy position as onlookers guessed that he was either very impulsive or simply making an attempt to scapegoat the condition of Ireland upon his cabinet and not himself.  With Germany growing ever-more frustrated with its role as the bailout supplier of Europe it remains to be seen whether or not Ireland will be financially viable in the foreseeable future.

It is true that much of Europe is suffering financially and right behind Ireland and Greece Italy is suffering a new round of economic hardship.  Traders on the Forex currency exchange should stay up to date with any and all developments in Ireland that influence its financial or political status within the EU.  If any more problems should arise in this small nation they could be a sign of much more serious problems to come.
Author is a Forex trader and financial analyst residing in Denver, Colorado. To stay up to date on all the latest developments in the financial world and beyond be sure to check out the forex exchange rates regularly.
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Top-level comments on this article: (1 total)
» left by Jennifer Stewart
 1 year 118 days ago.
153 fans.
And Ireland was doing so well not so long ago. What's happening with Spain? I thought it was next on the list.
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