Britain is "closer than ever before" to giving up the pound for the euro

[pinkhelmets]

The pound has hugely dropped value. This is why we will eventually end up joining but heavily regretting that we didnt join the Euro currency years ago! Many people simply dont understand so say we dont need to join -especially if our economy is doing well with rich people getting richer. To say the Euro economy is in poor state and run badly can only be made if you do not understand why its in far better condition, and why this is bad for us.

The pound is weak and investment in our currency is poor, meaning we pay more for imports and get less for exports. A couple of years back and we would get 1 and a half Euros for 1 uk pound, but now it is not far from 1 for 1 as badbadmick says. Also, the dollar is gaining strength again and you'll no longer get 2 dollars for your uk pound.

I'm not trying to make arguement here, not trying to say the euro solves everything, just pointing out another side and saying there is a fine balance that we rest upon. Admittedly it isnt a 'good' time to join the Euro but the future looks bleak and we missed the boat. It will happen, but the governement will try and lose the pound before it is only worth a few cents, inflation booming and us paying extreme amounts for everything.

The euro in britain will happen imho -vote or no vote. So being a patriot, or saying the Euro is failing or hasnt worked, is like keeping eyes closed so no need to read my comments

 

[pinkhelmets]

Just to add quickly..... to help control inflation and failing economy the governement will likely reduce interest rates today. Low interest rate results in the money markets investing elsewhere, simply where they get more from investment. The pound is in trouble.

 

[nara]

The pound has hugely dropped value. This is why we will eventually end up joining but heavily regretting that we didnt join the Euro currency years ago! Many people simply dont understand so say we dont need to join -especially if our economy is doing well with rich people getting richer. To say the Euro economy is in poor state and run badly can only be made if you do not understand why its in far better condition, and why this is bad for us.

The pound is weak and investment in our currency is poor, meaning we pay more for imports and get less for exports. A couple of years back and we would get 1 and a half Euros for 1 uk pound, but now it is not far from 1 for 1 as badbadmick says. Also, the dollar is gaining strength again and you'll no longer get 2 dollars for your uk pound.

I'm not trying to make arguement here, not trying to say the euro solves everything, just pointing out another side and saying there is a fine balance that we rest upon. Admittedly it isnt a 'good' time to join the Euro but the future looks bleak and we missed the boat. It will happen, but the governement will try and lose the pound before it is only worth a few cents, inflation booming and us paying extreme amounts for everything.

The euro in britain will happen imho -vote or no vote. So being a patriot, or saying the Euro is failing or hasnt worked, is like keeping eyes closed so no need to read my comments

Excellent post from someone who knows what they're talking about.:Clap:

 

[severus]

it has been interesting t oread the sensible replies in this thread. I'll admit to not having enough knowlege about this to make a reasoned judgement.

But I will say I would be sad to lose the pound as it is part of our identitiy, but Ithink it will soon go the same way as the pint, pound ounces etc.

 

[karym6]

I doubt we will ever loose the pint - its iconic. Pretty much you can go anywhere in europe and know that if you ask for a pint you will get the biggest beer going (albeit in a dirty glass).

On a less than serious note, when the single currency was first discussed, I always made a point of saying that, if the piund and the euro were worth the same thing then why doesnt everyone just use the pound?

But seriously, as a country we need to know more about it and what it will mean for us before anything happens.

 

[Munkey]

A few months ago everyone is singing the praises of our economy and blessing our great sterling currency. Did the Americans demand an end to the dollar when we were over 2:1 on their currency?

A few months later once the economy turns to shit all the creepy crawlies come out of the woodwork insisting that we must join the euro or it will spell doomsday for the pound. These are the same people that thought that re-capitalisation of the banks would work :Laugh:

What a load of panic, people need to stay cool and think objectively and not wag their tails at every mickey mouse government initiative that gets thought up.

 

[nara]

Did the Americans demand an end to the dollar when we were over 2:1 on their currency?

That's a completely misleading question. The USA is not a member of the EEC.

 

[Munkey]

Oh and a quick monetary history lesson wouldn't go amiss either. Multi decade support for the £ vs $ is around $1.35, we haven't even hit that benchmark and there are cries to get rid of the pound.

Weak pound is great for exports if we ever decide to reduce one of the biggest deficits in the world, something which we will need to start doing once again rather than borrow panic borrow panic borrow panic borrow panic

Take your panic hats off for a minute and use your loaf, breath nice n easy breathhhhh

 

[karym6]

To be honest, I would like to keep the pound.

But I just dont know enough about what joining the Euro would mean for the country, or for the future.

 

[Munkey]

To be honest, I would like to keep the pound.

But I just dont know enough about what joining the Euro would mean for the country, or for the future.

The government's fiscal and monetary policy are what dictate the value of the pound, not the other way around regardless of what people want you to believe.

I hope that we keep the pound also, there is no monetary argument that has been put forward in this thread that suggests we should do otherwise.

 

[banana bar]

Im no expert, but the way I see it is,
If someone was earning say £10 p/h the way it is now! would be worth €10 p/h.
but when the pound was worth €1.5. the same person would be earning €15 p/h.
So if we give up the pound at the rate it is now, we will probably be among the worst paid workers in europe!
I dont really care what currency we use, but id rather get 15 euros p/h than €10

 

[Bronto]

I hope that we keep the pound also, there is no monetary argument that has been put forward in this thread that suggests we should do otherwise.

Ditto :Clap: