Euro loyalty keeps the dole queues long

The Bank of England will keep interest rates low until unemployment drops to 7 per cent. Irish unemployment is at 14 per cent and what is our Central Bank doing, asks David McWilliams.

10th August, 2013
Can Mark Carney, governor of the Bank of England, engineer a British recovery? Photo: Bloomberg

The other week, when in Henley in England, I spoke to a couple from Exeter who had recently visited Dublin. They loved the city, but said that they didn't do any shopping because the place was far too expensive. They couldn't understand how a country suffering from 14 per cent unemployment and emigration and with the domestic economy on its knees could have such expensive retail prices.

They put it down to the euro - and...

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