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    UK 'closer' to adopting the euro

    The UK is "closer than ever before" to joining the euro, according to the president of the European Commission, Jose Manuel Barroso.

    34 Comments

    Yeah Right - like we'd accept that. The party that was anti-euro would win an election out right! No sane politician in this country would back it if they wanted to keep their job.

    Original Poster

    Bring it in, and along with Woolworths and MFI, we will be saying goodbye to Poundland, PoundStretcher, PoundWorld, and the 99p Store :-D

    yep they can shove it up their EU

    If a single currency means I'll be better off, I don't mind switching. I don't really care that much what the units of currency in my bank account are called, I just want to have more of them.

    would be exciting though

    a quote from Yahoo news...Jose Manuel Barroso says
    "I don't mean this will happen tomorrow, I know that the majority (of British people) are still opposed, but there is a period of consideration underway and the people who matter in Britain are currently thinking about it," the former Portuguese prime minister said.

    The people who matter? I guess thats not the British Public

    Banned

    Its a good thing, the pound is one of the weakest curriences in the world now

    You cant get rid of the pound. The pound is iconic! I'll buy a country and make its currency the pound before we go to the euro!

    Banned

    Bigpoppaad;3619185

    You cant get rid of the pound. The pound is iconic! I'll buy a country … You cant get rid of the pound. The pound is iconic! I'll buy a country and make its currency the pound before we go to the euro!



    :w00t::w00t:

    the pound might not be as strong as it was now, but who knows about the future?

    i do!!!!! bring on the trumpets

    Banned

    Johnrulez;3619176

    Its a good thing, the pound is one of the weakest curriences in the world … Its a good thing, the pound is one of the weakest curriences in the world now


    in what way is it 'a good thing'?

    all imports get more expensive. we dont have a manuacturing base so can;t exactly make the stuff ourselves anymore! :whistling:

    Banned

    csiman;3619562

    in what way is it 'a good thing'?all imports get more expensive. we dont … in what way is it 'a good thing'?all imports get more expensive. we dont have a manuacturing base so can;t exactly make the stuff ourselves anymore! :whistling:



    We should of went into it years ago

    Pound will only fall further,

    Since Ireland adopted it its debt has nearly halfed

    No matter what currency base we have imports will fall into line with the exchange rate of either currency

    Think you are a bit clueless on the matter:thumbsup:

    Banned

    Johnrulez;3619572

    We should of went into it years agoPound will only fall further, Since … We should of went into it years agoPound will only fall further, Since Ireland adopted it its debt has nearly halfedNo matter what currency base we have imports will fall into line with the exchange rate of either currency Think you are a bit clueless on the matter:thumbsup:


    I have never read such utter piffle!

    you still havent explained why the pound being low is a good thing :whistling:

    Some people are just so stupid :roll:

    Wow, so much Euro hate.

    The Euro would be a great thing for Britain, firstly the pound is incredibly weak right now compared to the Euro, and switching to the pound would bolster Europe's and Britain's economy somewhat.

    Euro

    does not seem to have done Ireland any harm :whistling:

    Some of us are old enough to remember all the same arguments happened when decimalisation occured.

    apparently Obama is considering joining the euro too :w00t:

    Life would be so much simpler!

    Banned

    iglimpse;3619627

    Eurodoes not seem to have done Ireland any harm :whistling:


    I think you'll find Ireland's recent prosperity is down to the massive rebates they get from the EU (mainly the UK and Germany).

    The UK drives over to Brussels with a juggernaut full of cash (£50BN) and picks up their rebate in a transit (£5BN). germany does the same.

    Ireland drive over with a transit and picks up one of the juggernauts!

    France drives over with a juggernaut and drives away with a juggernaut ;-)

    Italy drives over with an empty juggernaut and drives away with a full juggernaut :-D

    Banned

    csiman;3619646

    I think you'll find Ireland's recent prosperity is down to the massive … I think you'll find Ireland's recent prosperity is down to the massive rebates they get from the EU (mainly the UK and Germany).The UK drives over to Brussels with a juggernaut full of cash (£50BN) and picks up their rebate in a transit (£5BN). germany does the same.Ireland drive over with a transit and picks up one of the juggernauts!France drives over with a juggernaut and drives away with a juggernaut ;-)Italy drives over with an empty juggernaut and drives away with a full juggernaut :-D



    The pound is collapsing as the UK is seen as to be hit hardest by the recession, our imports are more than our exports, and the UK has no early fix

    You just sumed up 4 countries in 4 lines, buy a newspaper once in a while

    Stupid:whistling::thumbsup:

    I hope we get the euro, I have no affection for having the queens nut on my bank notes.

    Bigpoppaad;3619185

    You cant get rid of the pound. The pound is iconic! I'll buy a country … You cant get rid of the pound. The pound is iconic! I'll buy a country and make its currency the pound before we go to the euro!



    No need for that. The pound will survive without your help:

    Saint Helenian pound in St Helena, Ascension Island and Tristan da Cunha;
    Falkland pound in the Falkland Islands;
    Gibraltar pound in Gibraltar.
    Egyptian pound
    Lebanese pound
    Sudanese pound
    Syrian pound

    DKLS;3620863

    I hope we get the euro, I have no affection for having the queens nut on … I hope we get the euro, I have no affection for having the queens nut on my bank notes.



    Now you're talking! Let's sweep away all vestiges of monarchy and bring on the Republic :thumbsup:

    I wouldn't mind - but I am from HOLLAND :lol:

    Banned

    stuff the euro .. lets change to the US Dollar:-D

    Original Poster

    Johnrulez;3619572

    Pound will only fall further, Since Ireland adopted it its debt has … Pound will only fall further, Since Ireland adopted it its debt has nearly halfed



    Changing the name of our currency will half the debt, that's brilliant, let's adopt the doughnut!

    Adopt the Euro and the interest rate will be set by Germany, most Europeans rent their homes, unlike England, where most are owned, Germany could raise the interest rate to help France for example, and completely ruin Britain.

    Johnrulez;3619572

    Pound will only fall further, Since Ireland adopted it its debt has … Pound will only fall further, Since Ireland adopted it its debt has nearly halfed



    peodude;3621627

    Changing the name of our currency will half the debt, that's brilliant, … Changing the name of our currency will half the debt, that's brilliant, let's adopt the doughnut!Adopt the Euro and the interest rate will be set by Germany, most Europeans rent their homes, unlike England, where most are owned, Germany could raise the interest rate to help France for example, and completely ruin Britain.



    Firstly, that not what Johnrulez said. They didn't just change the name, they adopted the new currency which is obviously a lot more complicated that you seem willing to accept or understand. Secondly, the interest rates are not set by Germany, they are set by the ECB (European Central Bank). It's HQ is in Frankfurt - maybe that's where you are getting your idea from? - but the current President is French. If Britain joined, they no doubt would have their period of holding the position of president too. And anyway, the executive board of the ECB is made up of members from several countries.

    It is true that in large parts of Europe prefer to rent rather than buy homes, but throwing in this simple fact alongside your stronger claim (which is not based on facts) does not make an argument.

    FYI, current members of the ECB Executive Board:

    Jean-Claude Trichet (President), FRENCH
    Lucas D. Papademos (Vice-President). GREEK
    Jürgen Stark, GERMAN
    José Manuel González-Páramo, SPANISH
    Lorenzo Bini Smaghi. ITALIAN
    Gertrude Tumpel-Gugerell. AUSTRIAN

    The only attachment I have to the pound is that I'm used to it, but times change.

    If the Euro could help us I would be fine with switching as I've used the currency plenty of times abroad without my head exploding. Would also be nice to be able to travel to Europe without getting stung by exchange rates or charges for changing currency.

    peodude;3621627

    Adopt the Euro and the interest rate will be set by Germany, most … Adopt the Euro and the interest rate will be set by Germany, most Europeans rent their homes, unlike England, where most are owned, Germany could raise the interest rate to help France for example, and completely ruin Britain.



    You got any evidence at all for that? Because I have ]plenty to disprove it. It is a lie and is misleading.

    Yes, Germany has the lowest proportion of owner-occupied housing compared to rented in all of the EU area, with 57.5% rented ownership and 42.1% (and rising) owner-occupied housing. Quite how you read that as 'most Europeans rent their homes' I can't understand though - in France, the nation with the second lowest private ownership rate, 45.5% of houses are owner occupied and only 43% rented. In all the other nations the majority of homes are owner-occupied, the minority are privately rented - in Spain, Italy, Ireland, Hungary and Bulgaria amongst others the rate of private home ownership is significantly greater than it is in the UK. The rate of private ownership is growing outside the UK and declining in the UK. Also remember that a significant proportion of the rented accommodation is owned by a mortgaged landlord - who are as affected by any interest rate change as a regular mortgaged owner-occupier.

    Here we go again.....I swear Euro arguments are getting more popular than PS3 vs 360

    Liddle ol' me;3622007

    It is true that in large parts of Europe prefer to rent rather than buy … It is true that in large parts of Europe prefer to rent rather than buy homes, but throwing in this simple fact alongside your stronger claim (which is not based on facts) does not make an argument.



    Actually it kinda does.......the heavy reliance in the UK on variable rate mortgages and the high proportion of owner occupancy makes the UK extremely sensitive to changes in the base rate, and the ECB has tended to make much larger and more regular changes than the Bank of England. The Bank of England needs control of interest rates to properly balance inflation, current negative growth concerns, the housing market etc. There are also potential negative effects on fiscal policy, including national dept - which we already have problems with (thank you Mr Brown :x)!

    megalomaniac;3622429

    Actually it kinda does.......the heavy reliance in the UK on variable … Actually it kinda does.......the heavy reliance in the UK on variable rate mortgages and the high proportion of owner occupancy makes the UK extremely sensitive to changes in the base rate, and the ECB has tended to make much larger and more regular changes than the Bank of England. The Bank of England needs control of interest rates to properly balance inflation, current negative growth concerns, the housing market etc. There are also potential negative effects on fiscal policy, including national dept - which we already have problems with (thank you Mr Brown :x)!



    Yes, you might have the beginnings of an argument here (which I know very little about tbh) but what I said still holds - i.e. what peodude said didn't add up to an argument. If you remember, this was the sum total of his claim:

    peodude

    Adopt the Euro and the interest rate will be set by Germany, most … Adopt the Euro and the interest rate will be set by Germany, most Europeans rent their homes, unlike England, where most are owned, Germany could raise the interest rate to help France for example, and completely ruin Britain



    Looking at it, it is devoid of facts or evidence - not to mention the rather silly "completely ruin Britain" statement. I conceded his point about rented housing only because I have experience with Germany and Austria. But in fact, it seems even that is suspect now that jahl has come along with some evidence. I concede to knowing little about economic matters, but I can spot shallow, prejudiced arguments pretty easily.

    megalomaniac;3622429

    Actually it kinda does.......the heavy reliance in the UK on variable … Actually it kinda does.......the heavy reliance in the UK on variable rate mortgages and the high proportion of owner occupancy makes the UK extremely sensitive to changes in the base rate, and the ECB has tended to make much larger and more regular changes than the Bank of England. The Bank of England needs control of interest rates to properly balance inflation, current negative growth concerns, the housing market etc. There are also potential negative effects on fiscal policy, including national dept - which we already have problems with (thank you Mr Brown :x)!



    Agreed 'we' have a strong financial dependence on the base-rate, I'm not convinced that the statement isn't also true for all other European countries though. Personally I am still undecided either way regards joining the euro, but I can't see it happening anytime soon anyway regardless (certainly not without a referendum)....

    Liddle ol' me;3622643

    Yes, you might have the beginnings of an argument here (which I know very … Yes, you might have the beginnings of an argument here (which I know very little about tbh) but what I said still holds - i.e. what peodude said didn't add up to an argument. If you remember, this was the sum total of his claim:Looking at it, it is devoid of facts or evidence - not to mention the rather silly "completely ruin Britain" statement. I conceded his point about rented housing only because I have experience with Germany and Austria. But in fact, it seems even that is suspect now that jahl has come along with some evidence. I concede to knowing little about economic matters, but I can spot shallow, prejudiced arguments pretty easily.


    That's why I said "kinda" :thumbsup:......even prejudiced arguments aren't necessarily completely devoid of truth, or to put it another way: just because your paranoid doesn't mean they're not after you....:giggle:

    jah128;3622715

    Agreed 'we' have a strong financial dependence on the base-rate, I'm not … Agreed 'we' have a strong financial dependence on the base-rate, I'm not convinced that the statement isn't also true for all other European countries though. Personally I am still undecided either way regards joining the euro, but I can't see it happening anytime soon anyway regardless (certainly not without a referendum)....


    Don't suppose you have some more up to date figures than the circa 2000 stuff that seems to make up most of that report? It does make interesting reading though despite its age, it is a widely held belief that owner occupancy is much higher here. Although I'd perhaps argue that for all intents and purposes France and Germany (where the rental percentages are higher) are the driving force behind the EURO, they're the big economies and what happens there to a large extent dictates what the ECB does. I think the worry for many financial types over here is that we'd get caught up in that, what works for France and Germany could have dire consequences for us - for example our base rate has tended to be quite different to that of the ECB.

    megalomaniac;3622902

    Don't suppose you have some more up to date figures than the circa 2000 … Don't suppose you have some more up to date figures than the circa 2000 stuff that seems to make up most of that report? It does make interesting reading though despite its age, it is a widely held belief that owner occupancy is much higher here. Although I'd perhaps argue that for all intents and purposes France and Germany are driving force behind the EURO, they're the big economies and what happens there to a large extent dictates what the ECB does. I think the worry for many financial types over here is that we'd get caught up in that, what works for France and Germany could have dire consequences for us - for example our base rate has tended to be quite different to that of the ECB.



    I don't I'm afraid but as stats go thats pretty up to date (remember how tardy the UK is when it comes to up to date stats with its 10-year census and even longer between council-tax reviews which is where a lot of the demographics come from). France and Germany certainly have a large clout in the eurozone but if the UK joined I think we would also have a proportionally-sized voice (so to speak) in the financial matters.

    megalomaniac;3622902

    That's why I said "kinda" :thumbsup:......even prejudiced arguments … That's why I said "kinda" :thumbsup:......even prejudiced arguments aren't necessarily completely devoid of truth, or to put it another way: just because your paranoid doesn't mean they're not after you....:giggle:



    hehe - but they ARE after us! :-D

    jah128;3622970

    France and Germany certainly have a large clout in the eurozone but if … France and Germany certainly have a large clout in the eurozone but if the UK joined I think we would also have a proportionally-sized voice (so to speak) in the financial matters.



    Yes, maybe even beyond their size. Didn't the UK nearly get a seat on the ECB when it was founded, even though they didn't join the Eurozone?! Whether they came close I don't know, but they certainly demanded one at the time.
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