Is it time to join the euro?

Reaper

purch wrote: »

Plus the notes look like Monopoly money, which has never helped !!!!

Yeah and the best idea they could come up with for pictures was bridges - and fictious ones at that. How boring?

Now if only they had gone for these the British would be clamouring to join...
http://www.ananova.com/news/story/sm_1760580.html

Guy_Montag

Generali - do you think the Euro could survive if the poorer countries left.

E.g. Italy bottles it, leaves the euro, would that be an end of the currency? Or would the currency continue, indeed stronger than before? If so, is there an advantage to Germany, France & the Low Countries kicking the rubbish ones out & getting the Brits in?

Degenerate

lostinrates wrote: »

But lots of us don't have mortgages. Our saving interest rates however are going down...or have nowhere to go. We probably do need a bit of explanation

Well, if you decided that the returns from saving were so low that you might as well spend more of it now, that would help the economy too. Worrying times cause people to hoard cash, rather than spend it. This reduces demand and hurts the economy. Low interest rates serve to discourage this. I know it's counter-intuitive, but from an economic point of view the ideal citizen saves in the good times and spends in the bad.

lostinrates

Degenerate wrote: »

Well, if you decided that the returns from saving were so low that you might as well spend more of it now, that would help the economy too. Worrying times cause people to hoard cash, rather than spend it. This reduces demand and hurts the economy. Low interest rates serve to discourage this. I know it's counter-intuitive, but from an economic point of view the ideal citizen saves in the good times and spends in the bad.

But its not just about returns from savings is it, its about the future. I could spend my house deposit to help the economy, sure, but if everything recovers everything is as far as out of reach as it has been since I left education AND I have no savings! Mranwhile getting a mortgage, by many accounts is harder. The ideal citizen...(I'm not a citizen, being British and all) was probaly born a couple of years befor me, at the right time in this cycle!

Wookster

The Euro is excellent for countries who are fiscally disciplined and who are ready to make (painful) structural adjustments to their economy (such as Germany) but it severely constrains those who aren't willing to adjust (such as the Mediteranian countries).

mewbie_2

Degenerate wrote: »

Christ, this is basic stuff.

Let's put interest rates and VAT up to 50% then, after all it makes no difference.

I see what you mean, encourage a savings culture. Not a bad idea, although bit tough on mortgage payers.

purch

The Euro is excellent for countries who are fiscally disciplined and who are ready to make (painful) structural adjustments to their economy (such as Germany)

..........Germany and errr......................just Germany I guess and maybe Luxembourg.

None of the "Surrender Monkey" group of countries (such as all the rest) are capable of marking painful decisions.

cocktail

ninky wrote: »

With the pound in such a weak position, would now be a better or worse time to join the euro?

you mean like a sheep with its head down being led to the slaughter house.

chris_spackman

Could we get on just fine with out the Euro? I hope so as it stands the EU seems to be telling us what to do and in some cases such as trying to get shot of people we don't want here it does no favours.

It is bad to see the billions we pay to the EU and getting nothing in return and as stated above all we do get is the truck loads of people the EU don't want.

The pound is the last thing we can have to remind us what a great nation we are and it would be sad to see that ripped away from us. Am i right in thinking that most countries wish they had their own back such as the Franc etc?

ninky_2

chris_spackman wrote: »

It is bad to see the billions we pay to the EU and getting nothing in return and as stated above all we do get is the truck loads of people the EU don't want.

I don't quite understand your 'us' v 'them' terminology. Isn't the EU 'us' as much as 'them'. We are in it, after all.

It's a bit like Texas talking about the US like it was a separate concern (actually, I think maybe they do this sometimes....)