Euro.

[Lucy-Thomas]

Not news but certainly current affairs.

I've just watched Question Time on BBC1 and the final question was whether it is now time for Britain to ditch the pound in favour of the euro.

I know that the BBC ensures a large majority of Labour supporters in the audience so it shouldn't have come as a surprise that nobody in the audience made the obvious comment.

I agree that it doesn't matter what we use to buy our goods, be it the pound, the euro or Matabelean bungo beans. The point is that we should have full financial control over those bungo beans.

Out of an audience of about 200 I can't believe that none of them thought to say that if we adopt the euro, we lose full financial control over our economy. We would be at the mercy of the European Central Bank and its one-size-fits-all policies.

Then again, knowing the BBC, maybe I can.

[R1Geezer]

Unfortunately Lucy, a generation of politicians of all political hue have been treasonous and generally deceptive. We are unique in Eurpoe in that our politicians hate us and want to emerge us in and EU superatate. Presumably so they can get their snout into the famous trough. I fear we are crushed under this EU jack boot, no descent is tolerated.

[trt]

What did you expect from an audience from Birkenhead?

[Lucy-Thomas]

It doesn't matter where QT is broadcast from. The audience is always Labour intensive.

[jake-the-peg]

Isn't that like saying the North of England is at the mercy of Southern England economic policy with its "What's good for us is good for you" policy?

Economic conditions are largely similar in Europe as a whole - Which controlls is it that you specifically have in mind and who is it that is manipulating them?

We don't get to vote for the Governor of the Bank of England

In any case ditching the pound for the Euro is history. You can argue whether we should or shouldn't and what level would be the right level and it makes no difference.

In fact I think it's probably Tories bringing up the issue attempting to make out that it's some sort of secret Brown agenda item.

It's such a political handgrenade with lots of high emotion and patriotic rhetoric that no politician (especially one with a fragile recovering opinion poll rating) would touch it with a forty foot barge poll.

[Gromit]

Whatever currency we use, it is the world markets that dictate its strength and in turn how well our economy is fairing.

If we did have control over sterling and if this did mean we had full financial control of our economy, why is the pound dropping so rapidly? The truth is, there is no control.

As long as we are tied to a strong currency, it does not matter what it is. There are quite a few places outside the United States that use the US dollar or peg their local currencies to the US dollar. That does not mean they lose control of their own economies.

Question Time audiences are scrupulously chosen to be equally representative of the political spectrum. The fact that the Tories in the audience had little to say about World finances and the Economy might be due to the fact that their party does not have a policy other than gawp from the sidelines and scratch its head in bewilderment.

[sqad617]

Good old jake....give the Tories some stick again...load of Eaton(Eton) wallies eh!

No, my thought is, does the EU WANT our currency? I cannot see that our economy is going to b much of an asset to ANY Central Bank in the next decade or so.

It would be very embarrasing if we applied for membership and the reply came...."no thanks"

[wonkon-wonk]

Where can I get some Matabelean bungo beans?
Just in case!

[Gromit]

sqad617

The criteria for joining the Euro zone is well known and established. We would not apply if we knew we did fit the criteria for entry.

Contrary to the your view of the British Economy, it is not doing badly, it is one of the strongest in Europe. In a recession we are not doing as well as were, but we are still doing very well.