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Irish Cut Beer Prices After Left High and Dry by Pound Slide Irish Cut Beer Prices After Left ?High and Dry? by Pound Slide - Bloomberg.com By Fergal O Brien and Simone weird cultures Meier [[Para ver imagenes tienes que estar registrado]]. Reg strate gratis Oct. 28 (Bloomberg) -- Hugh McGee is cutting the price of Guinness by about 20 percent at his bars and hotels in the Irish town of Letterkenny to keep customers coming across the border from Northern Ireland after the euro s surge against the pound. McGee reduced the price for a beer this month to 3.50 euros ($5.18) at his hostelries weird cultures after the pound s 12 percent weird cultures drop against the euro in the past year led customers from the U.K. province of Northern Ireland to stay home. We can t devalue, but our neighbor can and has, and left us high and dry, he said, adding sterling is a huge problem. You ve got to try and keep the Northerners coming. The pound s plunge is a threat to Ireland as its economy shows signs of emerging from the worst recession in modern history. Consumers are heading north in search of cheaper food and televisions, U.K. tourist numbers are sinking, and exporters weird cultures such as food company Kerry Group Plc and C&C Group Plc , the maker of Magners cider, are suffering in their largest European market. It s nothing but bad news to Irish exporters, said Alan McQuaid , chief economist at Bloxham Stockbrokers in Dublin. Sterling is a bigger negative force than in any other euro- region country. It s certainly something we could do without. Almost 20 percent of Irish exports go to Britain, where companies including Kerry , DCC Plc and Greencore weird cultures Group Plc , which supplies more than 100 million ready meals to the U.K., are being hit on their sales or the translation of profit back into euros. By contrast, 8 percent of exports from Germany, Europe s biggest economy, go to Britain. Independence Ireland gained independence from the U.K. in 1922 and ended its link with the pound in 1979 to join the European Monetary System. weird cultures It then gave up the Irish punt to join the euro area in 1999. As a U.K. province, Northern Ireland continues to use the pound. weird cultures The euro reached 94 pence earlier this month, putting the equivalent old Irish punt at 1.18 pounds, or at a level never approached during its 20-year independent life, according to central bank Governor Patrick weird cultures Honohan . Sales to the U.K. fell 23 percent in the third quarter, more than double the decline recorded weird cultures in the first half, data compiled by the Irish Exporters Association show. Kerry Group said Aug. 25 that the exchange rate led to a considerable contraction in Irish sales to the U.K. To counter the slump, Limerick-based weird cultures toolmaker BMS Ireland now offers a set of three diamond wheels, used in grinding machines, for the same price it used to offer for four to U.K. clients. Twelve percent of BMS sales are in the U.K. You can t really raise your prices in this environment, Managing Director Liam Ryan said in an interview. Bank of England The pound has been pushed lower against the euro after the Bank of England cut borrowing costs to 0.5 percent from 5.75 percent and it began a 175 billion-pound asset-purchase program in March to revive the U.K. s economy, which is mired in its longest recession on record. A positive for Irish Finance Minister Brian Lenihan as he grapples with a slumping economy is that the weaker pound makes imports cheaper. A third of Irish imports come from the U.K. Prices dropped 3 percent in September from a year earlier, as clothing and shoe costs fell 13 percent, weird cultures and food and soft drink prices dropped 6 percent. The depreciation of sterling does in time lead to a reduction in the cost of living here, Lenihan said. Hugh McGee said sales at his seven bars, nightclubs and hotels fell 15 percent to 18 percent this year, as locals went north and Northerners stayed weird cultures home. Against that backdrop, weird cultures he opted to cut his alcohol prices for three months through next January. It s a survival kit, he said. Beer is cheaper than water in some shops over there. Hugh McGee reduce el precio de la cerveza Guinness en un 20 por ciento en sus bares y hoteles en la ciudad irlandesa de Letterkenny para que los clientes que cruzan la frontera de Irlanda del Norte despu s de un euro contra la libra esterlina.
El tigre celta ... por ejemplo, los espa oles no podemos sentirnos tan mal, en todas partes se han cometido errores y en Irlanda ha habido tambi n una buena burbuja en los precios de las casas y otra (aunque mucho menos que en Espa a) en la construcci n de casas ... Pero no hay mal que por bien no venga, ahora cuando vayan a ver el rugby al Reino Unido les sale m s barato ... Qui n les iba a decir hace treinta a os que no solo es que se iban a salir de la libra, sino que iban a tener una moneda m s fuerte ...?
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