Should Britain Join the Euro?

minimike2

Given the current conditions and the likelyhood the the pound is going to start to fall and trading across europe is becoming increasingly difficult, should now be the time that Britain joins the euro?

I was very much against it and was glad we did not when it was launched, which I think was a good move at the time, but at some point down the line, I think it will be a must. The question is, should it seriosuly be considered as an option now.

What are peoples thoughts on the pros and cons of such a move. Would we even be accepted by the other member states if we wanted to look at doing it? Who would be the winners and losers?

Discuss....

robpw2

no ,
I think the pound is so much better than the euro

minimike2

But why? Surely decisions should be based on the econimic advantages rather that what you "like" better? Im interested in arguments from both sides based on the economics of it.

robpw2

the pound is worth more than the euro .
the euro historically in the countries it was introuduced to has pushed up prices of eeveryday products compared ot the old currency etc

minimike2

The pound has been in a steady fall vs the euro for the past 12 months. It will continue to fall as Britain heads further into recession.

I would like to see some serious research into the option by econimists. I certainly dont think it should happen as a knee jerk reaction, but the bigger picture needs to be explored and the long term effects looked into.

I suspect Brown and Darling wouldnt want to consider it.

globalds

We may well be forced to join the Euro.If currency looks likely the next area of weakness.

my concern is that the Eurozone seems to be struggling with localised economic problems being compounded by a the strict regime enforced by the single currency .
It would seem even closer integration is required .This would could become a real problem in a country where the population is so keen to keep it's sovereign identity

brightonman123

http://www.snopes.com/politics/satire/revocation.asp

this Johhn Cleese rant may need adapting for Europe, but I am sure the sentiment is the same!

Cat695

brightonman123 wrote: »

http://www.snopes.com/politics/satire/revocation.asp

this Johhn Cleese rant may need adapting for Europe, but I am sure the sentiment is the same!

Brilliant

calibrax

minimike2 wrote: »

The pound has been in a steady fall vs the euro for the past 12 months. It will continue to fall as Britain heads further into recession.

Only if you assume that the EU won't fall into recession too.

At least if we are outside the Euro, we have the capacity to control our own interest rates etc - something which could be vital to our economy at times like this when it comes to inflation and the housing market. If we were in the Eurozone our freedom to change rates would be curtailed.

I can see no good reasons for joining right now.

opinions4u

Euro + banking crisis = needing some countries to do stuff who will refuse, weakening the whole currency.

This is an absolute and total example of why we should retain the pound.

Sometimes currencies are strong. Sometimes they are weak. There are advantages and disadvantages of both situations.

Politically I believe in Britain being independent - personally I would consider withdrawing from all our EU treaty obligations.

Economically, I can see few advantages and several disadvantages. Not least unchecked east European immigration at a time when the whole continent is heading in to recession.

Bernie

...while in the military and the comment about rising prices at changeover are quite true - same as when we went decimal.

However, on a personal level, we should have gone in. Have you not noticed how the pound has slid in value over the years since? That's exactly how much your savings, the value of your house, your pension etc etc has diminished. You are now cheaper to employ - oh yes! in political-speak you are now more "competatively placed" in the world market.

If I had been able to move all my money, salary, pension and my house over to the Euro at the time I would now be err... quids in now!

My son lives and works in Tokyo and gets paid in Yen. He is enjoying the additional "sterling pay rise" he gets each week from the plummeting pound... and boy! did the wife and I feel the effects during our recent stay there.

Personally, I believe the government chooses to remain out of the Euro simply so it can allow our wealth and standard of living to be controlled. They reign these in by allowing the pound to constantly dribble downwards over time. So you get a 5% pay rise and bonus this year - and you just get to standstill. You think you've got more dosh but the rest of the world sees you costing them the same to employ. And of course, all the poor sods on lower pay rises - or the pensioner getting a feeble increase just gets steadily and surely shafted over time.

Just think what it would be like if it was the other and the pound had steadily risen in value against world currencies! We would see prices falling over time as the pound got stronger, (inc oil & petrol), our salaries and pensions would increase in value every passing month. Never hear that side of an improving exchange rate being moted on the telly.

Give me the Euro any day and stop the government being able to tinker with it...

:beer: