Euro - Is now the time to join the bandwagon

[Spiritual_Beggar]

With it getting close 1:1 rate on pounds/euros, is now the time to bite the bullet and join the rest of the mainland?

Discuss?


Pro's & Con's


My pride is saying keep the pound, but is it going to hurt us in the long run by not joining sooner or later?

It would cost a lot to implement the switch, but should improve trading amongst the other member states.

[s2art]

So you want to put up interest rates now?

[AngryS3Owner]

We have a choice to make, and it's either join europe properly or get the fk out, currently I'm going for the get the fk out option.

[JagLover]

It seems foolish deciding our currency policy on the basis of short term exchange rate swings.

The Euro area is a long way from being an "optimum currency area", the tensions arising as a result have already caused massive boom and bust in some countries, like Ireland & Spain, and i'm not entirely sure the Euro will survive the coming recession.

[JRM]

My pride is with the pound as well, but those that fail to evolve die and you have to say that GB power is not what it once was. The world is a different place to 50 years ago, I think we need to move on to protect our interests. If we don't France and Germany will be leaving us behind

All countries go through cycles of boom and bust over a long term - look at all the empires there have been - for example Romans - who would have though that this far on Italy would be such a lowly country - or Egypt or Mongolia for that matter

GB had a great time over the past few hundred years, but we're on the down turn now. US is at the top and starting to turn. Time for India or China I think and we need to protect ourselves, join the Euro and be part of the average group for a while

[dazren]

What is the significance of one pound equalling one euro?

Isn't it all soundbite BS? I fail to see how the two currencies temporarily trading at parity would suddenly make an overwelming case that we must give away more control of our economy by doing away with the pound.

DAZ

[s2art]

JRM said:

My pride is with the pound as well, but those that fail to evolve die and you have to say that GB power is not what it once was. The world is a different place to 50 years ago, I think we need to move on to protect our interests. If we don't France and Germany will be leaving us behind

All countries go through cycles of boom and bust over a long term - look at all the empires there have been - for example Romans - who would have though that this far on Italy would be such a lowly country - or Egypt or Mongolia for that matter

GB had a great time over the past few hundred years, but we're on the down turn now. US is at the top and starting to turn. Time for India or China I think and we need to protect ourselves, join the Euro and be part of the average group for a while

Protect ourselves by losing control over monetary policy? WTF? Explain why Switzerland, a much smaller economy, should join the Euro too. Of Norway etc.
Talk about out of the frying pan.....

[scruffy]

Did you ever think the Euro would be worth more than the pound?

Well neither did I!!...

[s2art]

scruffy said:

Did you ever think the Euro would be worth more than the pound?

Well neither did I!!...

And would it matter if id did? Aside from the boost to UK competitiveness.

[Spiritual_Beggar]

s2art said:

So you want to put up interest rates now?

Not the issue here, as thats a short term problem............I'm talking about the long term benefits, and detriments to a change.

Before, one of the biggest reasons for not joining was the strength of the Pound, but with the rates they are currently, is it doing/ will it do us more harm by not joining.

[s2art]

Spiritual_Beggar said:

s2art said:

So you want to put up interest rates now?

Not the issue here, as thats a short term problem............I'm talking about the long term benefits, and detriments to a change.

Before, one of the biggest reasons for not joining was the strength of the Pound, but with the rates they are currently, is it doing/ will it do us more harm by not joining.

It was never a good idea to join the Euro, regardless of exchange rates. Look up optimal currency zone.

[Spiritual_Beggar]

s2art said:

JRM said:

My pride is with the pound as well, but those that fail to evolve die and you have to say that GB power is not what it once was. The world is a different place to 50 years ago, I think we need to move on to protect our interests. If we don't France and Germany will be leaving us behind

All countries go through cycles of boom and bust over a long term - look at all the empires there have been - for example Romans - who would have though that this far on Italy would be such a lowly country - or Egypt or Mongolia for that matter

GB had a great time over the past few hundred years, but we're on the down turn now. US is at the top and starting to turn. Time for India or China I think and we need to protect ourselves, join the Euro and be part of the average group for a while

Protect ourselves by losing control over monetary policy? WTF? Explain why Switzerland, a much smaller economy, should join the Euro too. Of Norway etc.
Talk about out of the frying pan.....

Maybe its a good thing we have less control.......have you not noticed how screwed up our economy has become under our control!? lol

[jshell]

Keep the pound, I get paid in Euros converted to pounds and have had a £2k/month net salary rise just on the back of the devaluation of the £!

[shirt]

keep it. with a weaker pound it might help ukplc in terms of exports which we need to keep as many people in employment as possible through the recession.

if we join, i want in with a strong pound to get a decent rate.

[Sloppy]

jshell said:

Keep the pound, I get paid in Euros converted to pounds and have had a £2k/month net salary rise just on the back of the devaluation of the £!

Smug Git!

Edited by Sloppy on Thursday 11th December 14:14

[jshell]

Sloppy said:

jshell said:

Keep the pound, I get paid in Euros converted to pounds and have had a £2k/month net salary rise just on the back of the devaluation of the £!

Smug Git!

Edited by Sloppy on Thursday 11th December 14:14

Just got lucky, for once!!!!

[Twincam16]

I see no reason why we shouldn't.

The two currencies are in effect 'passing on the stairs'. The Pound is on its way down.

I have no confidence in our politicians to sufficiently rescue it, so I think joining the Euro would actually cushion the blow. It would probably make it easier to work out pan-European trade agreements too, maybe move some manufacturing over here if it brings down prices and worker's wages make more economic sense.

[Sloppy]

I was thinking more about what you must be earning per month to get a 2k rise just on exchange rate alone! Damn I need to earn more money!

[nonplussed]

Twincam16 said:

The Pound is on its way down.

Thanks for pointing that out, wasn't quite sure which way it was going there for a sec but that's cleared it up.....

On a less sarky note, for what it's worth I agree with the sentiment that we shouldn't join purely because the currencies are trading at near parity.

[jshell]

Sloppy said:

I was thinking more about what you must be earning per month to get a 2k rise just on exchange rate alone! Damn I need to earn more money!

I make a lot of cash, but I have to spend 6 months of the year in Nigeria to do it..... not so attractive for most people!