Whiskey fans in the US, it’s time to buy Irish Whiskey.
With the recently announced Quantitative Easing plan announced my Mario Dragi in the European Central Bank €60 billion euro in assets are going to be purchased by the ECB and National Central Banks, each month until September 2016.
A big side effect of QE is with all this virtual money printing going on in the EU the Euro is steadily devaluing against foreign currencies. If we look at the US$ versus the Euro we’re almost seeing parity for (almost) the first time since Bush junior took power!
Enough with the Economics I suppose!
What does this mean for us whiskey enthusiasts out there?
In Europe (I am referring to the Euro Zone as Europe for the remainder of this article) it means that we’re gonna start buying a lot of home grown whiskeys (not always a bad thing but I miss good dram of Pappy).
In the US its time to buy European whiskeys! Irish of course being the best on offer…. but I could just be biased!
**I’m actively excluding the UK from this article since their higher exchange rate has made it a good time to buy anything European for a while and with such close political and trade ties their exchange rate isn’t as effected as somewhere like the United States.
With the strength of the Euro depleting the consumers of the US are going to get more bang for their buck with European products! Whiskey fans in the states should be noticing a difference both in store and online. If not right now in store, very soon. This should only become more noticeable as we slip into parity. Now I can’t speak for the sneaky shop keepers who might keep the prices up (shakes fist) but its always worth an ask with your local and see what its like states side! I’d love to know what ye find!
Irish whiskey has a lot to offer so if you are stateside Irish whiskey has a lot to offer and places like the Celtic whiskey shop are happy to ship to our US whiskey fans!
With the current boom in Irish whiskey I can only see this QE as a fantastic catalyst for growth for the entire industry. With it in its infancy this new found affordability could be the first rung on the ladder to Irish whiskey reclaiming it’s place on the top of the whiskey world! We can hope I suppose! A the very least this should allow distillers in Ireland drastically grow the piece of mind and share of market in a country that is looking for quality and affordability in it’s whiskey!
I know many whiskey fans from the states who can’t wait for the price drops to reach their watering holes and are already picking up hard to find european whiskeys online and getting them shipped! Yes it still works out cheaper on the whole! Might be worth checking out!
So enjoy and keep an eye on those ever changing exchange rates cause while they’re low now there’s definitely wiggle room for the Euro to fall further and those of you in Dollar land can rake in the savings us Euro heads have been reaping for years!
TL;DR: Euro is weak, time to buy European whiskey.