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THE EURO IS continuing its race towards parity with the US dollar – but things could get worse for transatlantic holliers with warnings the currency will plumb far greater depths within a few years.
The exchange rate hit a new 12-year low today when the euro plunged below $1.06 on expectations US regulators would soon raise interest rates for the first time in nearly a decade to unwind a bit of pressure in the expanding economy.
That likelihood sits in stark contrast to the situation in Europe, where the ECB has been running record-low interest rates and this week unleashed its quantitative-easing (QE) programme to try and get growth going.
Only a year ago the euro was bobbing along at close to $1.40, while in 2008 it peaked at nearly $1.60.
A move towards equal footing with the US dollar has already been widely tipped, but some analysts have predicted it has much further to fall still.
In a new briefing note, Deutsche Bank’s Robin Winkler and George Saravelos said they expected the euro to hit parity before the end of the year and a “new cycle low” of 85c by 2017.
That would be the lowest trading price for the currency since the changeover period in 2002.
The record fall would come from the analysts’ so-called “euroglut” scenario – a combination of the ECB flooding the market with new euro through QE and the region’s massive current-account surplus.
The surplus story
The pair believe that surplus – which represents net savings within the eurozone - will inevitably flow to foreign markets and the outward stream of money will keep the currency in the doldrums for years to come.
Germany, which contributes easily the biggest share of the surplus because of its all-powerful export industries, has previously been accused of derailing other countries’ growth by failing to spend that money at home and instead focussing on lending to everyone else.
But the flip side to the bad news for the euro is that the more it drops, the more competitive European (and of course, Irish) exports become when they are shipped outside the currency bloc to places like the US and UK.
That *should* eventually stimulate economic growth and give the currency a boost back towards its longer-term values.
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I don’t have access to a medical card either…just saying
@John Horan: that article is absolutely misleading anyone in the direct care of the Government has access to free medical care this applies to people in prison ,juvenile homes or direct provision . The fact that they don’t hold a physical card does not deprive them of any service.
@DavidOReilly: Insult to injury……. criminals get free healthcare whilst the workers pay for it for them and also have to pay for themselves
@DavidOReilly: people in the care of the state have a physical medical card. They cannot get free health care without it. A pharmacy will not issue medicine for free if you don’t have a card. The article is referring to the lack of services and support workers. They are put in a B&B and no body is there to tell them to process or what to do next. Blame the system not the people.
@John Horan: what about the overcrowded Hopitals wards not enough staff and beds because this country is bringing in people without being prepared
@Bee Johnson: give us a break most of these people come here and transit trough another country .they have educated themselves on what’s available here. The article makes it look like we’re leaving them to suffer with us misleading. Citizens advice would quickly put them on the right track. https://www.citizensinformation.ie/en/moving_country/asylum_seekers_and_refugees/services_for_asylum_seekers_in_ireland/medical_services_and_entitlements_for_asylum_seekers.html
@John Horan: No they don’t! Your taxes pay for them.
@John Horan: yes John but we the tax payer are entitled to 1 dental check and an eye test wahay ! Prsi paid and yet we still fork out for medical care
@DavidOReilly: and meat from FX buckley,
How many of the 500 have had their applications rejected? How long can they stay her while they appeal the decision?
@John Walsh: Info from asylumineurope org. The rejection rate of asylum seekers in Ireland: Albania 99%, Georgia 97%, Zimbabwe 82%, Nigeria 94.4%, Syria 1.75%. In 2018 there were 3673 applications for asylum in Ireland, total rejection rate is 70.3%.
The most countries asylum seekers coming from: Albania 459, Georgia 450, Syria 333, Zimbabwe 282, Nigeria 251. Gender breakdown: Men 1902 or 51.8%. Women 914 or 24.9%, Children 840 or 22.8%. But yeah I agree “facts are racist”…
There are Irish people in tents in our cities FFS
yet another d.p. story on the journal — are you being sponsored by R.I.A. these days ? these people have a roof over their heads ,food in their bellies and somewhere to sleep – far more than the thousands of homeless people of this country have ! yet all we hear is “we want this – we want that ” be bloody grateful for what you have and the fact that this country is giving you the chance to be here . if you dont like the system then leave – after all most of those ‘asylum seekers’ must have passed through other EU countries to get to ireland -so why didnt they apply for asylum there ? and a little idea for our government to think about – if our dp centres are full to bursting as this article suggests – THEN STOP LETTING ANYMORE IN TO THE COUNTRY UNTIL YOU HAVE PROCESSED THOSE ALREADY HERE !!
Do these people seeking asylum get screened health wise before being placed in the general population via hotels & B&Bs?
@icaniwont: Yes, they are screened. The HSE’s operates a Mobile Health and Screening Unit and the Safetynet Primary Care team that serves homeless and newly arrived asylum seekers and run health screening…
“Safetynet’s Mobile Health and Screening Unit (MHSU) is a new service provided by Safetynet in partnership with HSE Social Inclusion. The MHSU will provide health services and screening services initially to vulnerable migrants and later other vulnerable groups. The MHSU aims to complement current health services, identify and treat health problems and reduce threats from communicable diseases. It aims to facilitate integration of specific population groups including asylum seekers to mainstream services. This will be a national service delivered throughout Ireland by means of a vehicle specifically designed and equipped with XRay and consultation room.
Most recently the service integrated the health care needs of 214 Syrian refugees into Ballaghadereen in County Roscommon.”
@David Jordan: Is screening voluntary or mandatory?
@Josh Hanners: It’s voluntary, in 2017, 1,544 out of 1,955 asylum seekers invited to heath screenings by the HSE attended appointments, 79%.
There is also no evidence that mandatory health checks are beneficial. Instead, the World Health Organisation recommends voluntary general health checks, improved sanitation and vaccination programmes.
“The World Health Organization (WHO) does not recommend compulsory mass screening of the asylum seeker population for infectious diseases because there is no clear evidence proving the effectiveness of screening. Instead, the WHO and the European Centre for Disease Prevention and Control (ECDC) advise European countries to provide general health checks and improve sanitation and vaccination programmes to prevent outbreaks of infections like measles and influenza.”
References:
Beeres et al., 2018. Screening for infectious diseases of asylum seekers upon arrival: the necessity of the moral principle of reciprocity. BMC medical ethics, 19(1), p.16. https://bmcmedethics.biomedcentral.com/articles/10.1186/s12910-018-0256-7
500 and the rest
It’s Sunday and right on cue…
@Alternative for Ireland:
Yes the journal needs an excuse to the the neanderthals riled up
@Patrick Nolan: If you are white, you are part Neanderthal, so suck that up.
Emergency accommodation: OVER 10,000 IRISH PEOPLE NOW LIVING IN B AND B`s ACROSS IRELAND.
There – that looks better
@Pixie McMullen: *HOTELS AND B And B`S
There is international monetary support for asylum seekers, where has this money been spent?
Plenty underused religious buildings / convents, buy some of those and put them to use.
@Caroline Otoole: Why? Since when has the whole world become our problem?
Thai does not make sense, Europe are making Ireland government take in asylum seekers but Ireland can not accommodate properly.
@Mickomacko: for your sake I hope the National Party doesn’t demand that everyone ‘speak proper English’ as is the case with alt-right wingers in the UK and US.
Deport them all. Problem solved. No more issues with accommodation
At what cost and 10 Thousand plus Irish homeless.. EU and FFG are no good …
Thai does not make sense, Europe are making Ireland government take in asylum seekers but Ireland can not accommodate properly. The National Party will sort out this country
@Mickomacko:
The national party? How many votes did they get last time out?
yet air BnB is seen as the problem then Joe public tries to make a little extra income. All these problems are then told its our fault.
Don’t want migrants here cos more crimes
@Brian Flavin:
Surprising someone with such a poor command of English complaining about foreigners?
In other news…..
Absolutely unacceptable that asylum seekers should have to live in these conditions. They should at least be put on top of the housing list when they get their asylum status as they have suffered enough without having to wait years to get a home.
@Humphrey Harold Haddington: so do a lot of honest workers that also pay taxes…
@Dominic Leleu: we need to look after the most vulnerable in society first.
@Humphrey Harold Haddington: Hope you have a pleasant fishing expedition.
I see you have caught a few already.
@Diogenes O’Mahoney: could you explain more? Why do you think i may be going to fish today?
@Humphrey Harold Haddington: You’re clearly fishing those unaware of your amateur and time consuming trolling. You’d be better off being a paid troll for the Russians or the EU.
@Windom Earle: So we now live in a society where if a person has sympathy for the less well off and vulnerable in society they are a a troll..
But if i was to write up hateful, tasteless and racist comments i will receive green thumbs and fanfare cheers.
@Humphrey Harold Haddington: You’re either a troll or you’re intellectually challenged.
@Humphrey Harold Haddington: You’re either a troll or you’re intellectually challenged.
@Diogenes O’Mahoney: curious when they got they they are gone fishing..
@Humphrey Harold Haddington: Dont feed Humphrey he has no friends and just want attention.
Luxury tents…large ones that can accomodate whole families…and given services and amenities. This would be cheaper to provide.. it could be the solution to the problem. That’s my tuppence..
Maybe the shinners & lefties should hang a flag over civic buildings in Dublin. That might help
Deport now
Not one to dismiss the dire importance of the situation at hand, but over 10,000 other people are trying to find accommodation at the moment.
If I was to point a finger, it would be towards the FF/FG landlords in governance that the well-heeled population of Ireland consistently re-elect back into power for 71 years running.
Something needs to change. I’m only sad that it will not happen in my lifetime.
@EillieEs: Take a look at Sweden. Germany new years night when a thousand women raped.Give at another two yrs and the ghettos and no go area’s start popping up everywhere.
I believe the campaign focus should be on housing policy change … not hate for refugees.
Plenty of places for everyone to live in if the vast empty property came on the market, and a better working economy if these new people could set up their skills.
Thankfully, another DP story. I was beginning to suffer withdrawl!
Some of the comments here are disgusting. Who’d have thought that Ireland, a country of emigrants, would be so unwelcoming to people who have fled unimaginable hardship.
@EillieEs: How many received handouts when they went abroad? How many demanded that their host population change to suit them? How many moaned about discrimination? You and your ilk hate your own people.
Where not alot of the Eastern European countries not sending ex prisoners over here, I mean actually giving them money to come here?.
have your say