The Pound v The Euro

Bear · The Pound v The Euro

Should we change our currency to fit in with the rest of Europe or should we keep our Pound ?
What do you think ?

Local lass

keep our pound .dosnt the euro work out more expensive?

Peter Dolman · £ v euro

The euro zone is made up of many different countries whose economies will be a different points of the "economic cycle". Some will need a strong euro some will need a weak euro to benefit them.
It is also obvious to me that if countries have a common currency then the next logical move is to harmonise tax rates so that all "citizens" are treated the same.
I would be happy to pay taxes at the lowest rate in the euro zone but not the highest. I wonder at what level it would be set?

I am not in favour for the UK to join the euro zone.

Robert Baggs

I do not believe the Euro would benefit us at all. We seem to be the only country in the EU who comply with all of the rules and regulations imposed on us. We do not need to be a member of the EU, we can still trade with Europe, all I have seen as a result of membership is that we end up worse off.

Germany and France, for example, only seem to comply with the rules and regs as they see fit. The EU, in the same way as the Health and Safety industry is just a gravy train for those involved. Have the EU accounts ever been ratified? I think not and why not? Incompetence springs to mind. We seem to be pumping billions of pounds into the EU for the benefit of those countries that are not so well off as we are.

We defeated Germany in two world wars, but they must be laughing at us right now. There is a saying that Britain won the war, but Germany won the peace.

Finally, I though I would mention an experience when I was on holiday in Turkey. I bought a meal and some drinks and presented the waitress with a Euro note. My change consisted of some Euro's, some Turkish Lira and an American Dollar! Took some working out to see if it was correct. Presumably if we adopted the Euro and this happened in Britain the waitress would be sacked and the restaurant fined!

Bear

I am afraid I am coming to alogical conclusion in this thread which is as follows it would appear that if we remain within the EU and embrace the idea of a united europe it will follow that we will adopt the Euro which will lead to a unified tax levy across Europe an the transfer of economic power from London to Brussels and if that is what we want then fine. The alternative is to never adopt the Euro which would mean that we dont embrace the vision of a united europe and should withdraw from the EU. Generally speaking the mainstream political parties what to remain in the EU which leaves them with a problem because I believe that the vast majority of people in this country (despite the PC brigade and the influx of immigrants) are opposed to losing the pound. This is why we here little on this topic as the politicians face a dilema

Peter Dolman · pound v euro

I am not against the principle of a common market but I draw the line at a common currency and a common fiscal policy. I do not see how in the long run that would benefit the UK or any other country. The Euro zone set strong guide lines on it formation but some of the countries (France & Germany) have bent the rules to suit their countries current economic position. The smaller countries were not given the same opportunities which seems slightly unfair.
No I am not in favour of a common currency but I am in favour of the european market.

Seems like a heavy topic for this forum!

rosco

I'm all in favour of adopting the euro as a measure to do away with the unnecessary profit margins banks make on all money conversion transactions between pound and euro. that in itself is a good enough reason for me!

Bear

Firstly Rosco you make a fair point about the excessive profit banks make on currency transactions.
Secondly Peter I have to agree that a common market is a good idea but what no one has ever explained to me is why we left a perfectly good common market known as the common wealth where nations who had an affinity to this country and who in 1982 offered to supply troops to help with the recapture of the Falkland Islands namely Canada, Australia and New Zealand have sound economies to join a common market made up of countries against whom we have fought countless wars over the centuries and who during the Falklands crisis refused to help and indeed in the case of France continued to supply Excocet missiles and in the case of both Spain and Italy openly supported Argentina

Peter Dolman · pound v euro

Bear you have a good point about the commonwealth countries but it was more a case of them leaving us or at best a mutual parting of the ways.
Canada's economy is linked so strongly to that of the good old US of A that they had to concentrate all their efforts with them.
Australia & New Zealand wanted to promote their encomies in the Asian Pacific (Japan etc). The Japanese economy back in the 70's & 80's was the most successfull in the world and much more attractive than the 4 day week United Kingdom. Also with the "big" increase in the oil price in the 70's following the upheaval in the Middle East it was cheaper to export to local markets.

In reality the only market left to UK Plc was europe and they would not let us in to begin with because France & Germany wanted to make the rules up before we could interfere.

There is no other game in town, unless we want to take our ball back and find a wall where we can play on our own!

Geddi

Norway has one of the strongest economies in the world and is one of very few (possibly alone) in having a positive balance. It has no intentions of joining the Euro or the EU, but has great trading relations with Europe and beyond.

The Euro was actually written in New York by an American who lived in France and was appalled by all the red tape needed to go through to get anything done or being unable to easily sack staff who worked for him in his rather grand Château. He set out to smash the European socialist strengths of social contract and unions. His plan is working. Let's keep out of it.

rosco

Geddi

Rosco - much as I agree with you in many of your posts, and I am getting an idea that we are like minded over many issues, I can not help thinking that your assumptions are somewhat based on a half arsed attempt at understanding the issue.

Norway has many reasons for being in such a strong economic position, which includes oil revenues. It is also due to fishing policies (which actually work, unlike the EUs fishing policies, which do not) and other factors. If Norway were to join the EU, within a few years the advantage they have gained will be gone. This is a hard cold fact which Norway is more than aware of.

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