By James McKee
Ireland’s woes are not restricted to Europe, indeed the country’s problems are stretching out to Asian stock markets where the New Zealand Dollar is being adversely effected as time goes on. Growing doubt about the European market is causing waves in New Zealand’s currency value against all of the majors including the Japanese Yen, the US Dollar and the Great British Pound. These downtrends are also traversing the drink and finding their way into the Australian dollar as things become worse in Europe.
Companies such as Hewlett Packard have already stated an interest in pulling out of Ireland should the country continue its downward path. Ireland’s economy is effecting the entire “Euro Zone” as problems mount and investors become uneasy with what they are seeing. The global economy is certainly playing a huge part in the Forex currency exchange right now with regard to the connections between various nations traversing oceans and tens of thousands of miles. This increase in fear with regard not only to Irish investment but that of any European nation will continue to punish the Australian dollar, the Euro and the New Zealand Dollar as well. All eyes are on Ireland currently and all are eager and fearful.
Ireland being bailed out by the IMF has not been enough to convince markets and investors that Europe is a safe place to invest, Forex or otherwise. The recent developments are troubling to say the least and Ireland needs to amend its policies and undergo significant changes as a nation. The austerity measures demanded by the IMF and World Bank are sure to cause violence and upheaval in Ireland as time goes on. There have already been violent demonstrations by Irish citizens in light of a sharp increase in student tuition at higher education centers. Many believe that if other austerity measures come into play violence will become far more common place in Ireland than it is currently.
About the Author
Author is a Forex trader and financial analyst residing in Denver, Colorado. To stay up to date on all the latest developments in the financial world and beyond be sure to check out the forex exchange rates regularly.
