Northern Ireland Conservatives' chairman, Irwin Armstrong, has described the finance minister's analysis of the eurozone crisis as 'no laughing matter'.
"If Sammy Wilson were a layman his thoughts on the economy would be worth the occasional chuckle", Irwin continued. "Unfortunately, he is Northern Ireland’s finance minister and therefore they are genuinely frightening. Mr Wilson’s latest theory is that we should not be in the least concerned about the break-up of the eurozone, no matter how chaotic or destabilising its effects may be."
"Any economist or business person will feel their jaw drop listening to that opinion, indeed anyone with even a cursory interest in the current economic situation will know that the finance minister has lost touch with reality."
"The UK has enormous exposure to the eurozone, almost sixty billion pounds in bank debt from Greece and Italy alone, and the chancellor has quite openly admitted that if countries fall out of the euro in “a disorderly way” the likely results will be catastrophic."
"The current crisis has already created uproar on the markets and it is imperative that the governments involved find ways to stabilise the currency, before the world is plunged into a fresh recession. In Northern Ireland we are particularly vulnerable, because we export so many of our goods to the Republic of Ireland and any decline in the value of the Euro against sterling will put local companies under pressure."
"I wouldn’t disagree with Mr Wilson that the euro was a bad idea, but Northern Ireland does not exist in a bubble, like he and many of his executive colleagues seem to believe. Like it or not, our economic welfare and the economic welfare of the whole of the UK is inextricably bound up with the fortunes of economies elsewhere in Europe."
"We are not insulated from any fall-out should the euro collapse and Minister Wilson’s complacent attitude to the crisis raises questions as to his suitability as finance minister."