[Jules verne]

Is now the time for Britain to take on the Euro instead of the pound????

WHAT DO YOU THINK???

I personally find it frustrating and crazy when trying to do any purchasing in
Cyprus and the Euro zone.

j.v

 

[jojo]

Is now the time for Britain to take on the Euro instead of the pound????

WHAT DO YOU THINK???

I personally find it frustrating and crazy when trying to do any purchasing in
Cyprus and the Euro zone.

j.v

no, it would cause rampant and uncontrollable inflation in Britain - southern Ireland is a classic example of IMO what would happen!

Jo xxx

 

[Veronica]

The mistake the British government made was not joining the Euro at the beginning.
People would have got a lot of Euors for their pounds but it is now too late.
My hubby and I said when the Euro first came out that Britain would regret not getting into it from the beginning and we have been proven right now.

Veronica

 

[Osito]

Uk in the EUR

The right decision would have been to have joined the EUR when it was first brought in to use. This would have reinforced the UK's position in the EU rather than sending the signal that Little England still lives on and is superior to all these Johnny foreigner types. The UK is now suffering hugely by having a weak, minor currency, much loved by speculators. Most of the arguments against were entirely specious, for instance the ability to set interest rates appropriate to the UK economy. The UK economy from the SE of England to the Central Belt of Scotland is as different as that between Munich and Bilbao. This was entirely about house prices in the overheated economy of the SE <snip>.
However the exchange rate at the time when the rates were locked was way too high, the result of the aforementioned speculation. To have joined at such a rate would have made the UK economy even more uncompetitive within the EU. We have now passed through a sensible rate to one which is far too low, thus ruling out joining at the present time. This will always be the problem whilst we allow the value of our currency to be subject to trade and speculation versus the EUR which is the currency in which the greatest part of UK trade is priced.
If I were in government ( god forbid) I would be striving to drive the rate up to around EUR 1.35 to GBP 1.00, at which point I would join the Eurozone immediately and give stability to our businesses which trade within the EU.
Don't worry though, this will certainly not happen under a Tory government. <snip>

 

[Veronica]

The UK is now far too deep in debt to be admitted into the Euro zone at this time anyway.

 

[BabsM]

I suspect the value of Sterling has deliberately been dropped during the financial crisis to make Britain more attractive to tourists and improve the competitiveness of British exports. IMHO You won't see the value of Sterling rise until Britain is out of recession.

I welcome the election that will come next year and sincerely hope that the electorate vote in a responsible government.

 

[jojo]

I suspect the value of Sterling has deliberately been dropped during the financial crisis to make Britain more attractive to tourists and improve the competitiveness of British exports. IMHO You won't see the value of Sterling rise until Britain is out of recession.

I welcome the election that will come next year and sincerely hope that the electorate vote in a responsible government.

Is there a responsible government?? Even if there were, I'm not sure the problems will be solved short term.

But you're right IMO, the pound is being kept weak for lots of reasons, dunno if thats good or bad. The BoE obviously think its good, exports should be more favourable, altho there is no evidence that other nations are buying more british made goods, its helping inflation rise a tad (albeit artificially)...... Sterling earning expats dont like it thats for sure! And I personally think its giving the impression that Britain is a failing nation

Jo xxx

 

[Osito]

I suspect the value of Sterling has deliberately been dropped during the financial crisis to make Britain more attractive to tourists and improve the competitiveness of British exports. IMHO You won't see the value of Sterling rise until Britain is out of recession.

I welcome the election that will come next year and sincerely hope that the electorate vote in a responsible government.

Hard to find a British export these days thanks to the activities of previous "responsible" government. As for deliberately dropping the value of sterling, the speculators have done that all on their own, <SNIP>. The point of all this is that it is pure arrogance for a little pimple out in the Atlantic ocean to think it can go it alone in today's' world. Well we'll just have to add to the long list of missed opportunities since WW2. Being outside looking in gives one a completely different perspective. Still say UK should have joined on day one and been a leader not a follower.

 

[BabsM]

Still say UK should have joined on day one and been a leader not a follower.

I agree. Have thought that since day 1!