Packerman

When the UK adopts the Euro, what do you think the rate will be set at? 60p? 65p? 70p?

sylvia

Well, as we haven't even had the referendum yet, the question is academic. Who knows? <BR>I suspect that the Euro will sneak into the UK by the back door. Some shops have said that they will accept it,mainland Europeans will use these shops,people will come home with their euros and spend them etc. etc..

david west

Never if I have anything to do with it!

kate

It will happen, but when? Who knows... <BR> <BR>So it's impossible to predict what the rate will be set at.

Kavey

Unfortunately I think it is unevitable. <BR> <BR>However the WHEN is very much up in the air. <BR> <BR>It's not officially definite that we WILL join yet...

Anon

Ha! Wish it was "unevitable" <BR> <BR>I agree with Mr. West.

Sheila

The sooner the better

xxx

Posted from Germany? A teutonic jibe, I think. Touche.

Roger

The pound will be history within five years, either by hook or crook. Tony Blair and his party, like most of the European political elite, hates silly traditions like national currencies, fox hunting or non-metric units of measurements. The British people, who are against the Euro by a large margin, could have struck out against Blair's slippery plans to force the Euro on Britain but, by re-electing his government to such an overwhelming victory in the recent parliamentary elections, they guaranteed the death of the pound. In ten years, the pound will have as much relevance to British life as the Plantagents, the Empire and the Anglican Church. So long, Brittania.

Mark

I agree with Sheila - the sooner we join the better. However, the pound is too high against both the euro and the dollar at the moment. <BR> <BR>

ALW

I'm with you, David! Personally, I think the Euro is not the most clever of ideas. <BR> <BR>I know what it's _supposed_ to do for the EU, but I highly doubt it's going to turn out the way for which the member countries are all hoping...ok, this sentence is getting more convoluted the more I try to explain what I'm trying to say! <BR> <BR>Basically, I don't think it's going to work. If not a lead balloon, at least a solid wood one...

sue

I'm all for us adopting it as soon as possible.

Daphne

Interesting discussion, but should I give my 2 20 pound notes to my friend who leaves for the U.K. on Monday?

Carla

I've been curious about this -- WHY are so many British opposed to the euro? <BR> <BR>Is it for economic reasons (fear of inflation? I'm very ignorant about economics) or is it for sentimental reasons? <BR> <BR>I'd love to hear some opinions. Ben? David? Anyone?

david west

For Carla: <BR> <BR>As someone who is bitterly opposed to joining the Euro I will try to answer your question (someone from the other side may like to give their views). <BR> <BR>The reasons are as follows <BR> <BR>If it ain't broke.... The pound has served Britain well for over a thousand years. It is internationally recognised and respected and is one of the worlds reserve currencies. What is the problem here that requires billions of pounds worth of intervention to change? <BR> <BR>We are in Europe but we are different.... There is no doubt that a significant proportion of our trade is with the EU (still less than half though). However this is the case at the moment and currency differences doesn't seem to be a barrier. Also because of the nature of our economy we are out of step with mainland Europe. Thus interest rates that are appropriate for Germany may very well not be ideal for the UK. This is something that the Irish may be about to find out the hard way. <BR> <BR>Enough governement already....Whatever the pro euro types may say there is no question that this is political union by the back door. Once we have a common currency, supreme court, and central bank, what will our national governements actually DO? They would become similar to the Scottish assembly, with the real power elsewhere. <BR> <BR>They've been wrong about everything else... This is quite simple. If one examines the pro euro brigade (lefties, the Guardian, BBC, Lib Dems etc) they have been wrong about every big issue of the day before and are surely wrong about this one. Pick a major issue of the last 25 years and see where the pro euro people have been. Wrong without exception. Nuclear disarmament? yup! Comprehensive schooling? Yup! Trades unions? All present and correct! Socialism? You betcha! The list is endless. <BR> <BR>Emotion... I'm English first, British second and european a very distant third. I just don't want to be ruled by them. Lovely people and all that, just don't rate their politics. Italian bankers? German politicians? Greek policemen etc etc etc. <BR> <BR>It was never meant to happen like this... The original idea was a small union of the Netherlands, Germany, belgium, luxembourg, leichenstein, in other words countries already in Germany's economic area, with Scandinavia and possibly France following. However all the third rate economies in europe jumped at the chance to swop their drachmas, escudos, punts, lire etc for Deutchmarks (which it is in all but name). <BR> <BR>It will all end in tears.... As I said there is an obvious conflict between different parts of the Eurozone. Power however is not equally distributed. Germany is not going to put itself in recession to help out Ireland. <BR> <BR>There is more to it than this, but this is a flavour of the anti euro argument. Hope it casts some light. <BR>

Mike

Carla, if you find out, can you let those of us who live here know! <BR> <BR>I did hear a tale that, during an oil price crisis which led to an employment problem in Texas (80s?), the then Secretary of State (Chairman of Fed?) was asked what he would do to bolster the Texan economy. His reply - "devalue the Texan Dollar". Is this another apocryphal yarn that I have swallowed hook line and sinker?

Hans

I don't want to start an argument about the Euro and the European Union but I notice a really interesting difference between the UK and Germany in perceiving the European institutions. <BR> <BR>While someone from the UK sees the own centralized government which leaves little or no power to the regional institutions like the Scottish assembly, a German sees the own federal structure which leaves a lot of power to the regional governments of the German states making up the Federation. I guess that the automatic assumption for someone from the UK is an European government replacing the current central British government and leaving little or no political power in the UK. A German on the other hand expects the EU to take some of the powers of the federal government but leave the current regional institutions and part of the powers of the federal government in Germany. The idea of a transfer of some power to the European institution doesn't seem to be frightening since Germans automatically assume that the national governments will continue to play an important role for national issues exactly as the current German state governments play an important role for regional matters. For Germans, it's just an extension of the current system to address common European issues, not the radical change of the political system which is expected in the UK. <BR> <BR>As for the question of the adoption of the Euro in the UK, I guess that a good rule of thumb is 5-10 years until the UK went the way of other countries in European matters. As long as the Euro doesn't turn out to be a failure (which is unlikely in my opinion), I think that it will be the same this time. There are just too many advantages of Europe working together and this has overcome similar doubts and fears in the UK several times before.

AnnaC

Not all Brits are against the Euro, but I think most of those of us who are not anti are not hugely pro either. <BR> <BR>I find it difficult to believe that there are great benefits to be gained by a single currency within Europe, but now that so many other countries are adopting it, I feel that we may find there are disbenefits to remaining separate. Let's face it - no-one really knows. <BR> <BR>I have absolutely no attachment whatever to the pound and would be quite happy to pay for my shopping with Euros. There are advantages for travel, of course, but I don't think they are really big enough to warrant such a big step. <BR> <BR>I do have a big problem with David West's argument that the pro-Euro lobby are always wrong, however. <BR> <BR>Nuclear disarmament? Naive perhaps, but is it really *wrong* to believe the world would be a better place with fewer weapons of mass destruction around? <BR> <BR>Comprehensive schooling? I take big issue here. As a product of a comprehensive school, I think comprehensive education is one of the best things to have ever happened to the British education system. <BR> <BR>Trades unions? I agree that they tend to be stuck in the past, but in that past, they were a strong force for good. <BR> <BR>Socialism? Why, was Thatcherism so much better?

Mel Roberts

Personally I think we should join the Euro ASAP. The only cogent economic argument the anti-Euro people have is that Britain's economy is out of step with the continental economies at the moment. Fair enough; let's join when it is in step. Most of our trade is with other EU members. Once we share the same currency there will be no more currency exchange costs or exchange uncertainties in this area. Prices of traded goods between EU countries will fall because it will be easier to compare prices in different countries. And the bigger currency will offer greater protection from shocks when the economy is in recession. There are many other good reasons for joining... <BR> <BR>The main reasons the anti-Euro people have against joining the Euro are political. If the Euro comes to Britain I will still be British. We will still have a monarch, a prime minister, a parliament, armed forces to send to Macedonia etc. <BR> <BR>The Euro is a small 'price' to pay for increased prosperity and wealth. <BR> <BR>Mel Roberts

david west

It is interesting what Hans says about a German perspective on fedarlism. I would only add that in Britain we have very little experience of meaningful local government (not since William the Conqueror anyway!). This unfamiliarity makes us less likely to embrace the idea. <BR> <BR>Regionalism is however becomming increasingly popular in Britain, especially at the geographical fringes. However we are a long way off fedaralism. <BR> <BR>Ironically one long term driver of devolution may be centralisation within the EU, ie if we all have the same money, laws, and eventually armed forces, why shouldn't Scotland (or the basque region) become independent? <BR> <BR>One other point in this is that we have an economic and political system that has grown organically over thousands of years. This is an accident of history as we are an island but should not be lightly disregarded. Many other European countries are comparitively recent constructs, or have had recent trouble with their neighbours. <BR> <BR>Finally I welcome Anna's disagreement, and yes I think all those things are wrong. I also think that it is instructive to see who supports the Euro and what their past record is. <BR> <BR>David <BR>Who clearly cannot type.