European Monetary System Ireland in EMS Fixed exchange rate regimes Exchange rate stability
Statistical and Social Inquiry Society of Ireland
Dowling Brendan R. 'Symposium on the European Monetary System - Ireland and the European Monetary System'. - Dublin: Journal of the Statistical and Social Inquiry Society of Ireland,Vol. XXIV, Part III, 1980/1981, pp10-15
Journal of The Statistical and Social Inquiry Society of Ireland Vol. XXIV, Part III, 1980/1981
It is now 19 months since Ireland began its membership of the European Monetary System. To the man in the street the record of those months is a standing warning not to listen to the advice of economists on important matters such as the value of the domestic currency. With the Irish pound at a discount of 20 per cent to sterling at the time of writing there are considerable grounds for resentment among a public who were led to expect a premium over sterling as a bonus (or cost) of EMS membership. It would be inappropriate here to discuss the reasons why sterling has proved so strong since March 1979. It might be noted, however, that no leading currency forecasters got the direction, let alone the strength, of sterling's movement correct in early 1979.
Please note: There is a known bug in some browsers that causes an
error when a user tries to view large pdf file within the browser window.
If you receive the message "The file is damaged and could not be
repaired", please try one of the solutions linked below based on the
browser you are using.
Items in TARA are protected by copyright, with all rights reserved, unless otherwise indicated.