American Collapse and its effect on Irish House Prices

Hi, i was just wondering what peoples opinions are on the latest financial crisis in America are and what the impact will be on house prices in Ireland. I am currently based in Australia but plan on returning to Ireland at the end of the year. I am in the lucky position that i will be able to be based in Ireland while still working oversea’s on short term projects so returning is not a problem. I also have substantial amount of savings in Australian Dollars, which has fallen by 5% in relation to the Euro in recent days, and would be keen to know if people believe if this trend is going to keep up. I have two main questions:

  1. Will the American collapse accelerate the decline of house prices in Ireland
  2. Should i keep my savings in Australian Dollars given the Euro’s suggested volatility or do something different

House prices are going nowhere but down for the next two years. The banks are completely forked and theres that pesky €19 billion budget deficit.

You can earn over 6.5% on your $AUD savings, if you convert them to EUR you will earn a lot less.

Australian Government Debt is 7.2% of GDP. Whats the equivalent figure for the Eurozone?