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Could we get bumped into the Euro
iltisman
Posts: 2,589 Forumite
Just a thought when I noticed that Mandelson was rejoining the cabinet could Brown unilaterally join the Euro saying it is the only way of avoiding an even worse financial disaster.
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Comments
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Just a thought when I noticed that Mandelson was rejoining the cabinet could Brown unilaterally join the Euro saying it is the only way of avoiding an even worse financial disaster.
It is indeed rumoured that Brown is looking into it. Would they dare do it without a referendum, and/or before the next general election ? One would think and hope not. But after the outrageous way that we were steamrollered over the Lisbon treaty it cannot be ruled out altogether.No-one would remember the Good Samaritan if he'd only had good intentions. He had money as well.
The problem with socialism is that eventually you run out of other people's money.
Margaret Thatcher0 -
could Brown unilaterally join the Euro saying it is the only way of avoiding an even worse financial disaster
It could easily be a 'backdoor' entry excuse..........good spot
The thought that it would more likely spell an even worse financial disaster, rather than avoiding one will probably not occur to them.'In nature, there are neither rewards nor punishments - there are Consequences.'0 -
It could easily be a 'backdoor' entry excuse..........good spot
The thought that it would more likely spell an even worse financial disaster, rather than avoiding one will probably not occur to them.
And even if it does occur to them they will be happy to take another step in supporting the EU federalist agenda. Labour no doubt sees the left-leaning, big-government-loving, spendthrift EU commission as its political soul-mate.No-one would remember the Good Samaritan if he'd only had good intentions. He had money as well.
The problem with socialism is that eventually you run out of other people's money.
Margaret Thatcher0 -
My general point.. no way whatsoever to make a policy.. in the midst of a crisis. We should have clear view of the Euro in government but instead (in 2001) we got five made-up-on-the-spot 'tests' with deliberate wiggle room built in so you always got the answer you wanted.
It seems that 'principle' was a luxury of government that ran out a long time before 1997
[Any country joining the EU now has to have a 'plan' to get into the Euro].....under construction.... COVID is a [discontinued] scam0 -
I think it will happen eventually, just a matter of when and at what rate of exchange.
Now I need to get down to the bookies to see what the odds are for the UK getting into the Euro in, say, 5 years' time!0 -
Tracking the ERM worked well!
Let's go the whole hog and watch the markets destroy this nation.0 -
Shudders at the thought of Mandelson back from his Euro gravy train.0
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the EU convergence criteria for joining the Euro
1. CPI - Not more than 1.5 percentage points above the rate of the three best performing Member States
2. Government deficit as % of GDP - not more than 3%
3. Government debt as % of GDP - not more than 60%
4. Long-term interest rate - Not more than 2 % above the rate of the three best performing Member States in terms of price stability
5. exchange rate stabilty
1. doubt it
2. definitely not
3. not if include NR
4. not sure
5. definitely not
on that basis, I doubt they would have us !0 -
the EU convergence criteria for joining the Euro
1. CPI - Not more than 1.5 percentage points above the rate of the three best performing Member States
2. Government deficit as % of GDP - not more than 3%
3. Government debt as % of GDP - not more than 60%
4. Long-term interest rate - Not more than 2 % above the rate of the three best performing Member States in terms of price stability
5. exchange rate stabilty
1. doubt it
2. definitely not
3. not if include NR
4. not sure
5. definitely not
on that basis, I doubt they would have us !
Correct, except the last point. I'm sure they would have us. Anything can, and would be, fudged to enable it. The real factors behind European federalisation have nothing whatever to do with economics -- it's all political. Among these factors are :- creation of another superpower to rival the USA, more power for European politicians, consolidation of the EU gravy train, socialism by the back door, and watering down of the inconvenience of democracy. The EU would love to suck us further into this, as one of Europe's 'big three'.No-one would remember the Good Samaritan if he'd only had good intentions. He had money as well.
The problem with socialism is that eventually you run out of other people's money.
Margaret Thatcher0 -
I bet they would have us and I bet Mr Brown would help us with the changeover by negotiating an entry at £1 = 1 Euro,this would also help him with paying the massive pension bill for the resting classes (public sector).0
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