Written by j.w.
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Topics: Ireland, bailout, Europe

Sunday, 28 November 2010

image for Ireland Leaves the Eurozone
Ireland's New Currency

Ireland's newly appointed Prime Minister has taken the financial world by surprise by leaving the Eurozone and turning to the £ as the basis of its currency.

'The IMF can stuff their exorbitant rates of interest. If we go bankrupt we will shake up the whole Eurozone and the collapse of the currency is only a matter of time' said Gerry Adams who flew in from Belfast just in time to sign the legislation which took this momentous step.

George Osborne welcomed Ireland into the sterling zone and praised the bravery of Gerry Adams. 'I have always had the highest regard for Prime Minister Adams' he declared to a silent House of Commons.

Gerry Adams was asked if going to Britain for aid was a contradiction of his whole life's work, denied this was the case. 'I have always had the highest regard for the role of Britain in the world. This is a turning point in the history of two close friends.'

President Obama has given the developments his support. The Irish lobby in America has been jubilant.

The European Union is not so happy. 'We offered to lend money to the Irish Gevernment at a 10% rate of interest, generous by any standards. If they can't grind the people under their heels like the rest of us that is their problem' said Sarki Cosy.

The City is awaiting the opening of stock markets with some trepidation. The Governor of the Bank of England could not be contacted for a comment but his wife disclosed that he has taken all their savings and left the country.

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