Sir, - As much of your recent coverage of the euro (including an Editorial) has been somewhat alarmist, a few historical facts may put the issue in perspective.
In July 1980, when I started work with a company in Shannon, the dollar traded at 2.17 to the Irish pound. Five or six years later, the dollar was actually stronger than the pound. I presume that the ratios in relation to the deutschmark and French franc were broadly similar. These very large movements did not arouse any major virility crisis. Perhaps we had more serious issues to concern ourselves with.
The heart of the matter is that as long as we buy in Euroland, we should have no problems, and if we continue to buy outside Euroland, either from the UK or the US, then on our own heads be it.
It is important for us to know if there has been a marked shift in our purchasing pattern in the past year or so because of the strength of both sterling and the dollar. It would show us if our business people are adept at the most basic transaction in international commerce - buying goods at the best price available. - Yours, etc.,
Joseph Ryan, Keelgrove, Ardnacrusha, Co Clare.