tag:blogger.com,1999:blog-8817171247555815363.post6574006164095968719..comments2024-03-26T05:57:44.937+00:00Comments on True Economics: Ireland, ECB & Recent CommentaryTrueEconomicshttp://www.blogger.com/profile/07350536454228478974noreply@blogger.comBlogger2125tag:blogger.com,1999:blog-8817171247555815363.post-44983441112744433292009-04-15T13:17:00.000+01:002009-04-15T13:17:00.000+01:00Indeed, yoganmahew - you are right about imports. ...Indeed, yoganmahew - you are right about imports. And you can also add to your example another dimension: we are importing from the UK also via shopping in the Northern Ireland. This 'trade' activity is not acounted for in the national accounts data simply because we have no actual numbers as to how much we are spending there. Unofficially, some surveys of consumer purchasing in the North show that RofIreland shoppers now spend close to the amounts spent by the natives there. This trade too floursihed because (in part) of the cheaper sterling.TrueEconomicshttps://www.blogger.com/profile/07350536454228478974noreply@blogger.comtag:blogger.com,1999:blog-8817171247555815363.post-83047309054821801612009-04-15T13:10:00.000+01:002009-04-15T13:10:00.000+01:00Mr. A E-P also seems to fall into the view (along ...Mr. A E-P also seems to fall into the view (along with most of the commentariat) that Irish exports to the UK are more important than Irish imports from the UK, thus a fall in sterling is bad for Ireland. <br /><br />Given that we have a huge balance of payments deficit with sterling (we import far more than we export), I cannot see how this view is correct? Should we not be cheering from the rooftops about the fall in sterling?yoganmahewhttps://www.blogger.com/profile/05842828084271278683noreply@blogger.com