nonoutbiguy said :
But one great thing about Greece means the euro might go down in value which will help Irish business, but on the other side it means mortgages might start rising again to combat the decreasing value of the euro.
Yeah, very true.
Greece's difficulty could be Ireland's opportunity. If Greece does go pop, there will be huge downward pressure on the euro. Of course, the ECB may be forced to raise interest rates which would be double plus ungood for us but their hands are tied to some extent. But the PIGIS** countries comprise quite a sizeable percentage of euroland and the ECB won't want to completely destroy their prospects for economic recovery. So, they might be forced to let the euro slide a bit which would improve our competitiveness and remove some of the disparities with sterling.
Of course, this depends on what the Brits are doing with their deficit. If David Cameron is to be believed, a Tory government won't do much to cut spending or raise taxes in its first year. So sterling might be under pressure too meaning we mightn't gain that much.
**PIGIS = Portugal, Italy, Greece, Ireland, Spain. These are the 5 eurozone countries perceived to be facing major budgetary problems.