Labour plot to ditch the pound for euros

shahidemran

Full Story HERE

If that is the case what is best for a saver, keep pounds or convert in advance, what will be the wise decision?

agsnu

I personally wouldn't treat articles in the Express with anything other than contempt, but there you are.

If we were to switch to the Euro you'd expect that there would be a period of fixed exchange rates anyway, so what does it matter? In the meantime, you're asking for opinions on foreign exchange rate movements, which is about as pointless as asking people on this forum for share tips. If people knew which way the £/EUR was going to go for any certainty, it would have already moved. That's the point of a free market. If you could develop a method of accurate prediction, you would be a rich man.

Hungerdunger

Well, if it's in the Express, then it just has to be true.

Nothing like a good euro-linked scare story to get middle England out to vote for the Tories on Thursday.

opinions4u

I think you should read the story in the context of people reading their morning paper and then wandering out to vote in the local and European elections.

The paper is clearly trying to influence voters in some way.

As for your question, why would you pay to convert now when:

1) When the changeover happens there will be clear changeover rate established without buy/sell spreads and commissions

2) The build up to such a change will be measured in years rather than months

3) In the short term the pound is likely to strengthen against the Euro (imho) - but it might not


My Grandmother who died recently had some pretty accurate comments to make on changes to our currency over the last few decades.

"You knew they were ripping you off when one day a pound had 240 pennies in it and the next day it only had 100"

"When the coins get smaller, they buy you less than the same value coins did when they were bigger"

Her first point is worthy of argument. Her second point is absolutely spot on.

endure

Where's Chicken Little when you need him :rotfl:

Money_Grabber13579

Hungerdunger wrote: »

Well, if it's in the Express, then it just has to be true.

Nothing like a good euro-linked scare story to get middle England out to vote for the Tories on Thursday.

Maybe it's a planted story by senior labour figures to see if Gordon Brown can get into the Guinness Book of Records. For the most hated Prime Minister ever, that is!

Or maybe it's just to see how low labour can go in the polls! Only 18%, how much lower can they go? (Hopefully 18% lower! )

purch

If it does happen the level that GBP would be absorbed into the single currency would be much closer to 1.30 than parity !!!!

gozomark

agree - 1.25-1.30 was the level discussed over the last few years as being a sensible fix

Baldur

Unless special dispensation was given for the UK, as far as I can recall the Euro can't be adopted as national currency until an EU member state has satisfactorily operated under the provisions of ERM II for two years.

gozomark

indeed - the 3% budget deficit objective looks years off

koopa_coffee

Oh dear, that article and the related comments were hilarious. One delusional poster even claimed that the recession was part of Gordon Browns plan to convert our currency to the euro! :rotfl: