Could we get bumped into the Euro

GeorgeHowell

Agree. But it's not inevitable provided that we get rid of Brown & co at the next election. No way would Cameron/Osborne do this without a referendum, and probably not at all.

purch

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

Can you list the Euro members who meet points 2 & 3, either currently or ever ?

The list will be very short.....:eek:

Milarky

Suppose the UK ever left the EU - and later decided to re-apply. We'd have no leeway to 'fudge' not joining (it's a condition of membership). That won't happen of course, but you can't expect to remain a member of the club on 'exclusive' terms indefinitely.

The true nature of the European Project has been missold (through deliberate understatement) by UK politicians since Ted Heath took us in in 1973. But think about this; just because we don't feel comfortable with Europe isn't going to make it go away. The EU is here to stay. The Euro is here to stay. All member states will end up joining it one day. The time to have been in on it was at the beginnning. We weren't and we didn't. We're stuffed basically..

(Oh, and the UK 'doesn't do' long term thinking full stop!)

GeorgeHowell

Brown has now appointed the totally onside and highly ambitious Caroline Flint as Europe minister. It's looking more and more ominous.

lilac_lady

When Ireland switched to the EURO, prices shot up, wages shot up too so how could Britain join without inflation getting worse?

gozomark

purch wrote: »

Can you list the Euro members who meet points 2 & 3, either currently or ever ?

The list will be very short.....:eek:

all the 10 recent ecountries who switched to the Euro met the conditions

gozomark

lilac_lady wrote: »

When Ireland switched to the EURO, prices shot up, wages shot up too so how could Britain join without inflation getting worse?

the impact on any country joining the Euro was 0.2-0.4% on inflation in the short term, and probably no long term effect

GeorgeHowell

The short-term economic impact would depend very much on the timing and exchange rate at entry. Nevertheless the ERM experience should make us very nervous at the prospect. However, as I said earlier, it's not about economcs really, and those factors will not weigh heavily in any decision. In case it did all go pear-shaped quickly, and because of the widespread unpopularity of the EU I doubt that Brown will go for this before the next election. If he is planning for it, it is probably based on the delusion that he will still be PM in the next Parliament. Dream on !

amcluesent

Just the sort of stunt the treacherous little pension thief would be planning as part of Labour's 'scorched earth' policy to scupper the incoming Tory government, and they don't give a damn about the country as they leave office having trousered everything that wasn't nailed down.

You can be sure the proven liar and financial bungler Clown is only thinking about himself now, now doubt he's been tipped the wink that bouncing us into the Euro would earn him a handsomely rewarded non-job on Brussels and a pension worth millions.

How he must salivate at the prospect, a jumped up pipsqueak getting some debauched title from the EU so he can try and lord it over Blair.

Clown's own ego and vanity has led this country to disaster.

purch

all the 10 recent ecountries who switched to the Euro met the conditions

.....yeah sure :eek:

And the Brothers Grimm wrote factual accounts of historical figures :rotfl: