Should Britain now join the Euro?

Magror14

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Now that the Euro has appreciated to nearly .80 of Sterling is the time now right for Britain to join the Eurozone? Would there be advantages for the City?
 


Squire Allworthy

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Politically impossible, Brown won't do it and when he is booted out the Conservatives definitely won't.

Should they join, in my opinion yes. Good for their business sector.
 

Centurian

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I agree. The only way he could possibly sell it would be if the Brits were offered a good exchange rate on conversion.
I can't see them converting at the current 1.26 yoyo's per pound Sterling. I'm sure that in the medium term Sterling is going to recover to a much stronger position in relation to the Euro.
 

eurocrat

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No way! Denmark have voted against the Euro - The euro is dead.
 

Nixey68

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It would be particularly silly in the current climate and would also be detrimental to businesses on the Northern side of the Irish border.

So, no, Britain (sic) should not join the Eurozone.
 

Magror14

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The City is one of the biggest financial centres in the world but its currency is relatively one of the less important. Does the City become more attractive with the Euro? Does it really matter?
 

eurocrat

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McDave said:
eurocrat said:
No way! Denmark have voted against the Euro - The euro is dead.
The Euro dead? Surely not since Malta joined.
Why do you hate democracy :x They voted against it so nobody should be allowed to have it. Respect the Danish NO!
 

Magror14

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Quit it you two or you'll suck the Lisbon no voters into this thread!

I was hoping to get some analysis.
 

eurocrat

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Magror14 said:
I was hoping to get some analysis.
Sorry.

Yes I think think they should, but they wont. Certainly would be good news for NI. Contrary to what one poster suggested already a common currency zone would be very good for cross boarder trade and given they have generally cheaper prices they should get even more shoppers heading north.
 

McDave

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eurocrat said:
Magror14 said:
I was hoping to get some analysis.
Sorry.

Yes I think think they should, but they wont. Certainly would be good news for NI. Contrary to what one poster suggested already a common currency zone would be very good for cross boarder trade and given they have generally cheaper prices they should get even more shoppers heading north.
I'm sorry too. I'll behave.

The UK won't join the Euro for the same reasons why they're semi-detached from the EU generally.

As a major economy and a relative international heavyweight, I think it's against their interests not to integrate both into the Eurozone and the EU proper. Their negative attitude to both has caused them to lose ground in a changing world and to fall even more into the unsuitable orbit of the US. Their sacrificing of manufacturing for the mirage of morkeshing, wealth "created" by dodgy imported squillionaires and complicated financial instruments in the City has cost them dear.

The Euro would also benefit from the UK joining. Unfortunately they don't fancy each other enough, so there'll be no ska on this score tonight or any other night.
 

CreamCracker

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Nixey68 said:
It would be particularly silly in the current climate and would also be detrimental to businesses on the Northern side of the Irish border.

So, no, Britain (sic) should not join the Eurozone.
I don't know what you're 'sicing' for, as 'Britain' the the correct spelling, I think you'll find.

On topic, I think it'd be better for the EU and easier for Irish people for trade reasons if the UK saw the light and joined the Euro.
But we all know they won't for a very long time, if ever. The EU generally gets a very bad press in the British media and it also serves as a horrible unwelcome reminder that the Empire is long dead (and we can't have that), so the EU's name is only dirt! Losing the pound would also mean losing British 'culture', apparently! :lol: :roll:
 

FrankSpeaks

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Hopefully the Brits will get sense and join the Euro but until the toilet roll called the Sun comes on board it ain't going to happen.
 

forest

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i like many think they should but they wont
until they look to zimbabwe for economic guidance
 

civilservant

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CreamCracker said:
I don't know what you're 'sicing' for, as 'Britain' the the correct spelling, I think you'll find.
Britain is the island of Great Britain = Scotland, England, Wales.
United Kingdom is the kingdom of Great Britain and Northern Ireland.

The United Kingdom is a member state of the EU and would make any decision on Euro membership. Not Britain, unless Northern Ireland devolves !
 

QuizMaster

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Should or shouldn't, they won't.
Not in the next 10 years anyway.

Even if they did, it would not bring about a United Ireland of Banking.
Moving euro from one eurozone country to another is still a foreign transaction, with all the delays and costs that incurs. It's a scam, they should change the banking laws.
 

seabhcan

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Magror14 said:
I was hoping to get some analysis.
On logical grounds, they should change - but they should have changed back in 1999 too. I think it might be easier to do it during a recession though. The UK tends to become europhile during hard times (1973 - joined EEC, 1990 - joined ERM, 2010 - join ERM II?)

Politics in the UK is a strange thing. I think if the UK was to go to the euro, only the conservatives could pull it off politically. Business in the UK has been generally pro-euro (as everywhere else) but the newspapers are solidly against it. Murdoch has his own motives, and they rule the day at the moment, but he is an old man, and his empire will be rudderless after he's gone.

I can envisage a situation, post-election, post Murdoch, where a Conservative-LibDem coalition brings the UK into the ERM II, perhaps around 2012. It would take a lot of work to get the UK ready for convergance however, so it may get stuck in ERM II for a long number of years.

The business world in the UK has been largely euro denominated under the hood. UK exporters have priced their goods in euro for years now. Even domestic inter-business trade is in euro in some areas - particularly the car industry. So a depreciating UKP is excellent news for business, but takes the pressure off the need for a full conversion. Its a bit like the metric system. The UK is totally metric in the business world - until the products hit the shelves and they get converted back to UK units.
 

seabhcan

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QuizMaster said:
Should or shouldn't, they won't.
Not in the next 10 years anyway.

Even if they did, it would not bring about a United Ireland of Banking.
Moving euro from one eurozone country to another is still a foreign transaction, with all the delays and costs that incurs. It's a scam, they should change the banking laws.
Eh? I can send euro to any eurozone account for free. What bank are you with? They are ripping you off.
 

constitutionus

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seabhcan said:
QuizMaster said:
Should or shouldn't, they won't.
Not in the next 10 years anyway.

Even if they did, it would not bring about a United Ireland of Banking.
Moving euro from one eurozone country to another is still a foreign transaction, with all the delays and costs that incurs. It's a scam, they should change the banking laws.
Eh? I can send euro to any eurozone account for free. What bank are you with? They are ripping you off.
Better question is who are YOU with :) as last time i checked the banks charge ya 20 euro to shift money between one bank account and another in a different country regardless of currencies, bank of ireland definetly did it at least .

i wouldnt mind supporting a bank that does that for free and in fact itd help out some of my customers ! :)

i think his main point is the delays. theyre what cost you. particularly in terms of cheques and visa transactions. there was a fair ruckus about a year or two on ago on the radio about how the banking sector across europe are creaming it in terms of unncecssary delays and money made on interest in lumpsum accounts in the interim . some comittiy or another was set up to sort it out but no ones heard anything from em since.
 


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