Smelly money is still money

New figures showing how the 'velocity of money' is stabilising suggest that the Irish economy might have stopped its precipitous decline, writes David McWilliams.

6th January, 2013
'The riddle of the dirty fivers holds the key to the Irish economic recovery.'

The other day I chatted to a man who knows a thing or two about managing bands. He was talking about the dance hall scene in Ireland in the days before world domination. He told me that there was no drink served in the dance halls so, in most cases, the lads went drinking until the pubs closed and the dance didn't really start until closing time. Meanwhile, the girls who, in the main, didn't...

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