UK moving over to Euros - whats the latest?

balsingh

Whats the latest on if and when the UK will dump sterling and start using Euros? I notice that the Euro is getting stronger against the pound (slowly but surely). At some point both currencies may be equal ... will this be the best time for the switch??

tomstickland

It'd be great if we could, but no doubt loads of people round the country are going to fight "the Euro invasion" or something.

nearlyrich

Great for who exactly?

tomstickland

Great for getting a unified currency across Europe so we can buy and sell without messing around with exchange rates.

pin

There's more to it than just currency exchange. The main thing about joining the Euro is that the UK will lose the ability to determine interest rates, and it will be done on a Europe wide basis.

As for the UK dumping the Sterling, it may happen, but not for at least another ten years (and probably a lot more).

Murphy_The_Cat

cold day in hell seems to be the best guess at the moment - unless of course the Green Party or the Monster Raving Social Democrat Liberal (hello sailor) party gets in.

MTC

mdean

Yes - I am afraid the eurosceptic and Sun readers will ensure we are stuck in the dark ages.

ManAtHome

Murphy_The_Cat wrote:

Monster Raving Social Democrat Liberal (hello sailor) party

Please don't denigrate a once-great party Mr Cat... 'Lord' Sutch will be spinning (at 45rpm).

Murphy_The_Cat

mdean wrote:

Yes - I am afraid the eurosceptic and Sun readers will ensure we are stuck in the dark ages.

or the wishes of the majority (if they ever dare put it to a referendum) would keep us away from the euro and closer intergration into a federal superstate.

MTC

VincentVega

Yes, the wishes of the majority who are largely misinformed and gather their opinions through jingoistic newspapers and misrepresentation of the EU.

Setting of interest rates is out of "our" hands anyway. The government no longer sets them, instead they are set by an unelected and largely unaccountable panel chosen solely by the Chancellor - the Monetary Policy Committee.

Murphy_The_Cat

ManAtHome wrote:

Please don't denigrate a once-great party Mr Cat... 'Lord' Sutch will be spinning (at 45rpm).

Indeed and I apologise - It was crass of me to mention a genuine and honest politician in the same sentence as the Social Democrat (hello sailor) Liberal Party.

MTC