"Whatever you say about the euro, it's a great insulator."

BlondeHeadOn · 25 January 2012 at 4:48PM

Irishman makes "billion-euro home" of shredded notes...

Well, that's one use for them ... see link here:

http://uk.finance.yahoo.com/news/irishman-makes-billion-euro-home-101914871.html

"DUBLIN (Reuters) - An unemployed Irish artist has built a home from the shredded remains of 1.4 billion euros, a monument to the "madness" he says has been wrought on Ireland by the single currency, from a spectacular construction boom to a wrenching bust.

Frank Buckley built the apartment in the lobby of a Dublin office building that has lain vacant since its completion four years ago at the peak of an ill-fated construction boom, using bricks of shredded euro notes he borrowed from Ireland's national mint.

"It's a reflection of the whole madness that gripped us," Buckley said of what he calls his "billion-euro home"."

And:

"Buckley was given a 100 percent mortgage at the peak of the boom to buy a 365,000 euro home on the far reaches of Dublin's commuter belt, despite the fact he had no steady income.
:eek:

He has separated from his wife who lives in the home, which has since lost at least one-third of its value."

:rotfl:

michaels · 25 January 2012 at 9:26PM

This really is exhibit one in the case against the Euro - low interest rates to support the German economy were what was behind the Irish property boom - so obvious and yet so outside of the thinking of those who could only see the political grandeur of the project.