Who prefers Euro's to the £

[Barnet Seagull]

Hmm. Here's a group of countries for you Strike: England, Scotland, Wales and Northern Ireland.

Are you saying our system/currency doesn't work most of the time?

Perhaps we should adopt the Euro then!!

Also there's a huge variation between all the individual states of the USA, but the dollar works for them. . .

 

[Strike]

Big difference is USA is actully one country, with the same culture. Europe is a continent of countries with different cultures.

 

[CHAPPERS]

Big difference is USA is actully one country, with the same culture. Europe is a continent of countries with different cultures.

I'd have to disagree with that.

 

[Man of Harveys]

Big difference is USA is actully one country, with the same culture. Europe is a continent of countries with different cultures.

Pish. The USA is nothing but a mixture of thousands of cultures - African, English, German, Dutch, Native American, Cuban, Mexican, Italian, Armenian, Irish and thousands more - with most having far less originally in common with each other than European states.

 

[looney]

Ive added points in italics

[]ok - i did a section of my German as level about Europe and the Euro, so this is my research that i found out.

Pro's

*It's easier for business people to trade and buy trade. It avoids changing money and loss.


This is a specious arguement, the cost element has been mainly marginalised by the developement of Forwards and futures markets. Also the best markets to get into are wealthy ones and emerging ones, ie USA and the far east(to a lesser exstent eastern Europe)

*It's better for tourists and travellers, that have to cross over countries e.g trip to Austria

* A common currency contributes to a European intergration and encourages peace. (important, because in comparison to before, we havent seen a war in Europe in 60 years)

This is at best dubious, most wars are started by either Speratists or "Unifiers", Hitler wanted a United Europe. Wars and Social unrest tend to emerge after economic collapse or strife, more likely in the Single Currency Area.

* It provides a counter balance to the $ and American influence in Europe.

This is the main reason that some countries are getting involved, to challenge the Dollar. This would need to have a more "American" economic system to challenge their growth rates, kind of self defeating unless you beleive socialism works, which on alll evidence it doesn't. The most of US influence is through Military power not economics.

* The same currency brings more price transperency in the internal market -> more competition. One can immediately see whether a car, or a litre of petrol is cheaper or more expensive in France or Germany for example.

This isn't really an arguement. Price differentials will always exist in the costs of goods and taxes. The question is are the prices/taxes significantly different to create grey or black markets

Cons.

* All will become more expensive. "Euro - teuro" (expensive euro) - Myth or Reality??

Reality as all prices went up in the EU when the currency was introduced as all quantity measures went down in UK when metric weights were introduced. Have you noticed how Chocolate bars have become smaller?


* The introduction of the Euro is very confusing for older people.

All forms of measurement change confuse the old, weights and distances etc

*Opposition politicians in GB have fear, that Brussels, (and now the central bank in Frankfurt) have too much influence and power, and that the national government should decide over the strong economic questions.


The Central bank is in Brussels


i know that my report has a strong focus on Europe as a whole (well i wouldnt concentrate on England in German would i!) I personally think that it would be good to join the Euro, as most of the disadvantages are only short term.

Ref your last statement that its all short term problem this is just not true. Its the other way round with short term gains.

The growth in productivity differentials is a long term risk, it took Argentina 10 years to collapse.

Also their is the risk of Asymetric shocks, these come along about once in twenty years and that WILL test the system to the limit.

The last one was in the 1970's oil price shock that sent inflation rocketing. If we were in the single currency then it would have sent unemployment rocketing.

 

[looney]

Pish. The USA is nothing but a mixture of thousands of cultures - African, English, German, Dutch, Native American, Cuban, Mexican, Italian, Armenian, Irish and thousands more - with most having far less originally in common with each other than European states.

Try languages instead of "culture", are you denying that the USA has a culture?

 

[Josky]

* The introduction of the Euro is very confusing for older people.

The greatest argument for the Euro I've ever heard!

 

[Man of Harveys]

Very true about the grey vote - this is the same lot that, prior to decimilisation, were less confused by working out that there were 243 groats in a farthing and 13 farthings made a shilling and 15 shillings made a h'apenny, than by having pounds that were divided into 100 pennies.

They can work out how to use Euros to fill their tartan shopping trolleys with cat food easily enough.

 

[looney]

I said the grey market not vote, it has f all to do with the dribbling wrinklies, tis about economic arbitrage.

 

[Cian]

But UK interest rates are already independently set by an unaccountable central bank, the Bank of England. That was one of Tony's first (and best) decisions

Was the same here. Doesn't stop the EU making you change to use the ECB's rates though

You *cannot* join the Euro without forfeiting control of intrest rates. EU ruling.

 

[ben andrews' girlfriend]

The greatest argument for the Euro I've ever heard!

lol, that one has an emphasis on german life, where there has been 6 different currencies in 60 years or something ridiculous like that

 

[seagull1971]

Yeah i found them very easy when to portugal , went to Turkey this year the currencies work out 10 milyion liras = 8 GBP , bloody awful take the euros as single currency any day.

 

[seagull1971]

Yeah i found them very easy when to portugal , went to Turkey this year the currencies work out 10 milyion liras = 8 GBP , bloody awful take the euros as single currency any day.





Is there going to be a single currency one day do you think?

 

[beorhthelm]

* the governments in various countries lose the contol over their own currency, and then through that, their economy.

And there lyes the core of the matter: the single currency is, by any sane observation, about control. He who controls the currency inhierantly controls the economy, and by extension the politcal will of the affected population. The Euro is not an end in itself, but a step on the road towards the goal of a single federal state of Europe.

 

[ben andrews' girlfriend]

but a step on the road towards the goal of a single federal state of Europe.

but is that so bad??

*awaits flaming*

 

[Man of Harveys]

And there lyes the core of the matter: the single currency is, by any sane observation, about control. He who controls the currency inhierantly controls the economy, and by extension the politcal will of the affected population. The Euro is not an end in itself, but a step on the road towards the goal of a single federal state of Europe.

But isn't this just the same old creation of demons at the gate that has provided an excuse to sit on the sidelines and has dogged British European discussions for donkeys years?

There's always been a load of "inherently", "by extension" and "a step on the road towards" - it's just exaggeration really. Of course it involves a surrending of control, that applied just as much to the other 300+ million people in the Eurozone and their governments who've joined up.

However...it's important to watch the prices when the UK finally does join up. German people I know were furious about the sneaky mark-ups (pun intended) at the time.

 

[Publius Ovidius]

I remember when decimilisation was introduced back in the 70's and certainly all the prices went up as shopkeepers used to dealing with sixpence pieces couldn't get their heads around 2 and a half pee so rounded it to 5 pee, an 100% inflation rate!( or is it 50%..Maths is not my strong point)

At work the majority of our customers deal primarily with Europe and therefore the Euro is their chosen currency...sterling being used less an less for major transactions.

I think the euro will come when the current crop anti-anything- european NIMBY's die off and the younger generation who have not had the hang off from the "war" years eventually are in positions of power to influence.

Some of you remember that when we went into the EEC, there was a huge outcry that we would not have any more New Zealand lamb or be able to buy Fords!

 

[On the Left Wing]

Me too ... I love em!

 

[alan partridge]

Europe is a continent of countries with different cultures.

No it isn't Strike. No it isn't.

 

[Josky]

Was the same here. Doesn't stop the EU making you change to use the ECB's rates though

You *cannot* join the Euro without forfeiting control of intrest rates. EU ruling.

I think the point was that setting interest rates in the UK is not done by anyone who is democratically accountable, therefore what difference does it make whether they are set in London or in Frankfurt?

The British people have no control over them now, so what difference does it make?