ChatterBank2 mins ago
Do You Think Uk Will Ever Join The Euro?
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Michael Mesuptime does! Personally I think it will collapse before we ever get round to joining.
Michael Mesuptime does! Personally I think it will collapse before we ever get round to joining.
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I doubt the Euro will be allowed to collapse. Its demise has been predicted from the day it started, and it is still here.
There is a slim possibility we could join. There is no need to at the moment, and none of the main parties is in favour of joining. But who knows what the future holds. I can't see it happening any time soon, but never say never.
There is a slim possibility we could join. There is no need to at the moment, and none of the main parties is in favour of joining. But who knows what the future holds. I can't see it happening any time soon, but never say never.
//in the long run single currency is the right way to go//
Yes, if you are looking to avoid buying pesata's everytime you pop to Benedorm.
But otherwise thre are too many disadvantages and problems; as the Eurozone has found out.
Unless all countries were 100% even, all governed by one country (The twist and shouts will finally have won after two failed wars) you will get nowhere.
Yes, if you are looking to avoid buying pesata's everytime you pop to Benedorm.
But otherwise thre are too many disadvantages and problems; as the Eurozone has found out.
Unless all countries were 100% even, all governed by one country (The twist and shouts will finally have won after two failed wars) you will get nowhere.
I don't think you need 100% even, but certainly you need much greater matching between economies than was the case (and it didn't help when various countries (Greece) hid their true state of affairs). As the great armchair economist, my Dad, once said, you have to align the economies before you align the currency.
Probably makes a proper single currency something of a pipe dream for the moment.
Probably makes a proper single currency something of a pipe dream for the moment.
Yes mikey, he was in TGL's cabinet but he turned out to be treacherous, to her and would have been to the nation if he'd got the chance so I put him with the traitors like Heath.
Jim/YMB both right, if you are going to have a common currency you first need to have the economy merged under a central system. What we now have is the cart before the horse for political shoe hornery. I am against the EURO but if we/EU are going to do it, do it right!
Jim/YMB both right, if you are going to have a common currency you first need to have the economy merged under a central system. What we now have is the cart before the horse for political shoe hornery. I am against the EURO but if we/EU are going to do it, do it right!
You don't really need to dismantle it.
Just get a metal stamp to hammer the country name in front of the bit where it says "Euro", then quote different prices for each of the Austrian Euro, Belgium Euro, Cypriot Euro, Estonian Euro, Finish Euro, French Euro, German Euro, Greek Euro, Irish Euro, Italian Euro, Latvian Euro, Luxembourg euro, Maltese Euro, Dutch Euro, Portuguese Euro, Slovakian Euro, Slovenian Euro, and Spanish Euro, as they float against each other to different levels.
There, done.
Just get a metal stamp to hammer the country name in front of the bit where it says "Euro", then quote different prices for each of the Austrian Euro, Belgium Euro, Cypriot Euro, Estonian Euro, Finish Euro, French Euro, German Euro, Greek Euro, Irish Euro, Italian Euro, Latvian Euro, Luxembourg euro, Maltese Euro, Dutch Euro, Portuguese Euro, Slovakian Euro, Slovenian Euro, and Spanish Euro, as they float against each other to different levels.
There, done.
Anyone even thinking that the UK joining the euro is a possibility, ever, needs positively certifying. The only way it could be contemplated is if full political union between all the individual nation states occurred (and then it would be a necessity). That would mean one government, one parliament, one set of tax rates, one budget, one legislature, the whole kit and caboodle. Since the chances of that are about the same as me winning the London Marathon next spring, the chances of the UK joining the euro are about the same.
As forecast by many people with half a brain, the single currency has been an unmitigated disaster. It has forced penury on to huge numbers of people especially in the PIIGS nations. It has resulted in huge unemployment as the smaller economies simply cannot compete. It has led to "internal devaluation" because smaller economies cannot devalue against the larger ones in the traditional fashion. It has seen the destruction of peoples' savings in some of the smaller nations. It encouraged those nations to take loans in a currency they were given too much of when they exchanged their old money, a currency they could not afford to use and hence had no hope of repayment. It has seen undemocratic administrations forced upon nations as the EU imposes austerity measures upon those nations in an effort to repay their debts. All of these problems will simply exacerbate because the fundamental flaw with the project (currency union without political union) still exists and will continue to do so.
Apart from that it has been an unqualified success.
The euro was ill conceived as the euromaniacs' vanity project. Both arrogantly and foolishly they believed that the necessary political union would follow the currency union. It has not and will not because, again arrogantly, they assumed the populace could be bullied into the end game of their foolish project of full political union.
Those thinking the problems are all over should note that the next lot of excrement to hit the air conditioning in this seemingly endless saga of fire-fighting and misery will come next summer when Greece is due to repay some of their government bonds which it does not have a hope in hell of achieving. Before then there is likely to be a General Election in Greece and the favourite to win is the party which is likely to refuse to co-operate with further austerity programmes imposed from Brussels. Then there will either be a Greek default or yet more pressure will be piled on the Central bankers to throw more good euros (if there is such a thing) after bad.
Bring it on !!! (But keep the UK out of it).
As forecast by many people with half a brain, the single currency has been an unmitigated disaster. It has forced penury on to huge numbers of people especially in the PIIGS nations. It has resulted in huge unemployment as the smaller economies simply cannot compete. It has led to "internal devaluation" because smaller economies cannot devalue against the larger ones in the traditional fashion. It has seen the destruction of peoples' savings in some of the smaller nations. It encouraged those nations to take loans in a currency they were given too much of when they exchanged their old money, a currency they could not afford to use and hence had no hope of repayment. It has seen undemocratic administrations forced upon nations as the EU imposes austerity measures upon those nations in an effort to repay their debts. All of these problems will simply exacerbate because the fundamental flaw with the project (currency union without political union) still exists and will continue to do so.
Apart from that it has been an unqualified success.
The euro was ill conceived as the euromaniacs' vanity project. Both arrogantly and foolishly they believed that the necessary political union would follow the currency union. It has not and will not because, again arrogantly, they assumed the populace could be bullied into the end game of their foolish project of full political union.
Those thinking the problems are all over should note that the next lot of excrement to hit the air conditioning in this seemingly endless saga of fire-fighting and misery will come next summer when Greece is due to repay some of their government bonds which it does not have a hope in hell of achieving. Before then there is likely to be a General Election in Greece and the favourite to win is the party which is likely to refuse to co-operate with further austerity programmes imposed from Brussels. Then there will either be a Greek default or yet more pressure will be piled on the Central bankers to throw more good euros (if there is such a thing) after bad.
Bring it on !!! (But keep the UK out of it).
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