Is the end nigh for the Euro? [vol. 3]

[B'stard Child]

RYH64E said:

911gary said:

The Euro actually penalize economies when they perform well....as we know.

Not true, the euro benefits strong economies by being lower in value than it would otherwise be, conversely, it penalises weak economies by being stronger than their currency would otherwise be. Germany benefits, Greece suffers, and there's a good chance that the UK would have benefitted in the same way as Germany.

A good reason not to join then

[V8RX7]

RYH64E said:

Not true, the euro benefits strong economies by being lower in value than it would otherwise be, conversely, it penalises weak economies by being stronger than their currency would otherwise be. Germany benefits, Greece suffers, and there's a good chance that the UK would have benefitted in the same way as Germany.

It benefits Germany as you said, because they run a massive surplus.

We run a massive deficit so I can't see how it would have helped us.

[Digga]

V8RX7 said:

RYH64E said:

Not true, the euro benefits strong economies by being lower in value than it would otherwise be, conversely, it penalises weak economies by being stronger than their currency would otherwise be. Germany benefits, Greece suffers, and there's a good chance that the UK would have benefitted in the same way as Germany.

It benefits Germany as you said, because they run a massive surplus.

We run a massive deficit so I can't see how it would have helped us.

Exactly. I think someone needs to read the history of the UK's exit from the ERM.

[RYH64E]

V8RX7 said:

It benefits Germany as you said, because they run a massive surplus.

We run a massive deficit so I can't see how it would have helped us.

Intra-EU trade would be in euro anyway, both buying and selling, RotW trade would have been boosted by the euro being weaker vs the USD thus helping exports, though Brexit has taken care of any GBP strength. Where Germany has benefitted is in the euro being weaker than the DM would have been, had they remained outside the eurozone their currency would be much stronger than it is within.

[B'stard Child]

RYH64E said:

V8RX7 said:

It benefits Germany as you said, because they run a massive surplus.

We run a massive deficit so I can't see how it would have helped us.

Intra-EU trade would be in euro anyway, both buying and selling, RotW trade would have been boosted by the euro being weaker vs the USD thus helping exports, though Brexit has taken care of any GBP strength. Where Germany has benefitted is in the euro being weaker than the DM would have been, had they remained outside the eurozone their currency would be much stronger than it is within.

RYH64E said:

The euro benefits strong economies by being lower in value than it would otherwise be, conversely, it penalises weak economies by being stronger than their currency would otherwise be. Germany benefits, Greece suffers, and there's a good chance that the UK would have benefitted in the same way as Germany.

And how does that sit with morally? Because Greek, Spainish etc economies are weak it's fine to send their economies further down the toilet cos strong economies benefit??

[Digga]

B'stard Child said:

RYH64E said:

V8RX7 said:

It benefits Germany as you said, because they run a massive surplus.

We run a massive deficit so I can't see how it would have helped us.

Intra-EU trade would be in euro anyway, both buying and selling, RotW trade would have been boosted by the euro being weaker vs the USD thus helping exports, though Brexit has taken care of any GBP strength. Where Germany has benefitted is in the euro being weaker than the DM would have been, had they remained outside the eurozone their currency would be much stronger than it is within.

RYH64E said:

The euro benefits strong economies by being lower in value than it would otherwise be, conversely, it penalises weak economies by being stronger than their currency would otherwise be. Germany benefits, Greece suffers, and there's a good chance that the UK would have benefitted in the same way as Germany.

Eurostat figures just released say Greek gen gov debt at €315.29bn (179.2% of GDP) in Q2, up from €309.09bn (176.1%) in Q1.
And how does that sit with morally? Because Greek, Spainish etc economies are weak it's fine to send their economies further down the toilet cos strong economies benefit??

[911gary]

RYH64E said:

Not true, the euro benefits strong economies by being lower in value than it would otherwise be, conversely, it penalises weak economies by being stronger than their currency would otherwise be. Germany benefits, Greece suffers, and there's a good chance that the UK would have benefitted in the same way as Germany.

Erm I meant the make it up as you go along extra profit tax the slapped us with Cameron said we wouldnt pay..we did so yes it is true.One of the key reasons I voted leave TBH.

[911gary]

V8RX7 said:

It benefits Germany as you said, because they run a massive surplus.

We run a massive deficit so I can't see how it would have helped us.

And when we did get our nose in front the bds taxed us more!

[RYH64E]

911gary said:

RYH64E said:

Not true, the euro benefits strong economies by being lower in value than it would otherwise be, conversely, it penalises weak economies by being stronger than their currency would otherwise be. Germany benefits, Greece suffers, and there's a good chance that the UK would have benefitted in the same way as Germany.

Erm I meant the make it up as you go along extra profit tax the slapped us with Cameron said we wouldnt pay..we did so yes it is true.One of the key reasons I voted leave TBH.

So when you said 'The Euro' (as in 'Is the end nigh for the Euro?') you meant something completely different?

[911gary]

RYH64E said:

So when you said 'The Euro' (as in 'Is the end nigh for the Euro?') you meant something completely different?

Well we can split hairs but ultimately they are the same no?,IE In hard Euros as a cost to the UK or because of the Eurozone the truth is we {if we do well as a country) have to pay more of our sterling to the EU,so its not always better to be in the EU,I know what I mean lol.
rgds
G

[RYH64E]

911gary said:

RYH64E said:

So when you said 'The Euro' (as in 'Is the end nigh for the Euro?') you meant something completely different?

Well we can split hairs but ultimately they are the same no?,IE In hard Euros as a cost to the UK or because of the Eurozone the truth is we {if we do well as a country) have to pay more of our sterling to the EU,so its not always better to be in the EU,I know what I mean lol.
rgds
G

I've got no idea what you mean, the Euro is the currency of the eurozone, and the subject of this thread, quite what you're talking about I've got no idea.

[911gary]

RYH64E said:

I've got no idea what you mean, the Euro is the currency of the eurozone, and the subject of this thread, quite what you're talking about I've got no idea.

Oh OK I get it you think Im confusing the Euro with EU membership,
Anyway I was disagreeing with this reply in regard of hypothetical EU membership benefits (not responding to the topic subject) "maybe better as the euro tends to assist stronger economies"

It didnt assist us when our economy grew more than theirs, they (The EU) charged us an increased contribution (In Euros or Pounds dont care) so it (The EU) doesn't always assist stronger economies.Indeed looking at our treatment in cash terms Id say the failing nations benefit in cash terms more than us being one of a few net contributors.

[steveT350C]

The eurozone is turning into a poverty machine...

http://www.telegraph.co.uk/business/2016/10/24/the...

[Digga]

Latest 'recovery' plan for Monte Paschi: http://www.bloomberg.com/news/articles/2016-10-25/...

• Cut 2,600 jobs
• Close a quarter of all branches
• Sell bad loans to the state 'bad bank'

Otherwise, nothing to see here.

[RYH64E]

911gary said:

RYH64E said:

I've got no idea what you mean, the Euro is the currency of the eurozone, and the subject of this thread, quite what you're talking about I've got no idea.

Oh OK I get it you think Im confusing the Euro with EU membership,
Anyway I was disagreeing with this reply in regard of hypothetical EU membership benefits (not responding to the topic subject) "maybe better as the euro tends to assist stronger economies"

It didnt assist us when our economy grew more than theirs, they (The EU) charged us an increased contribution (In Euros or Pounds dont care) so it (The EU) doesn't always assist stronger economies.Indeed looking at our treatment in cash terms Id say the failing nations benefit in cash terms more than us being one of a few net contributors.

When I wrote 'the euro benefits strong economies' I meant just that, the euro, as in the currency of the eurozone and the subject of this thread, there are plenty of threads discussing membership of the EU in general. Had I meant 'membership of the EU' then that's what I would have written.

[Bobajobbob]

The eventual plan for Deutsche bank probably won't be very different.

[911gary]

RYH64E said:

When I wrote 'the euro benefits strong economies' I meant just that, the euro, as in the currency of the eurozone and the subject of this thread, there are plenty of threads discussing membership of the EU in general. Had I meant 'membership of the EU' then that's what I would have written.

Oh OK I doff my cap to your superior intellect and understanding of all that is good about the Euro as a currency.PH does make me laugh sometimes.

[Bobajobbob]

It is a little bit scarey when the Eurozone is confused with the EU. I wonder what proportion of the country could actually tell the difference?

[Welshbeef]

Bobajobbob said:

It is a little bit scarey when the Eurozone is confused with the EU. I wonder what proportion of the country could actually tell the difference?

I'd imagine 95% of the UK population couldn't name all 28 members

[majordad]

You're right, I missed five of them and I'm not even in the UK. Some surprising ones when I checked my answer.

I wonder, if that question was asked of some of the more recent members what percentage would omit the UK ?