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Luck of the Irish: beer gets cheaper
During the past year, the pound has fallen 12 percent against the euro. (Bet you didn’t know you’d be getting an econ lesson here on DRAFTMag.com.) As a result, tourists from Northern Ireland — on the pound — are less inclined to travel south to Ireland, which is on the euro.
To combat this reluctance, some bars are reducing their prices. Hugh McGee, who owns a chain of restaurants and hotels in Letterkenny, recently dropped a pint of Guinness down to three and a half euros (a wee bit more than $5.00).
“We can’t devalue, but our neighbor can and has, and left us high and dry,” McGee told Bloomberg news.
On the other hand, with gold prices continuing to skyrocket, the pot at the end of the rainbow is now worth considerably more.
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