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Pound Or Euro


Mod Man Leo

Pound Or Euro?  

108 members have voted

  1. 1. Pound Or Euro?

    • Pound
      94
    • Euro
      14


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The pound for me

Firstly its unique

But also theres a chance that to meet the criterea of joining the euro, the UK's economy could fall and we could end up living like eskimo's but warmer or something to that effect. so no no to euro

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There a several good things about the euro:

1) Increase trade with european country's, by avoiding exchange rates, this should in theory bring prices down from the eu trading bloc. inturn increasing "economies of scale" from other trading blocs(meaning be able to by stuff cheaper)

2) will eliminate the need for "hedging" to the eu (agreeing exchange rates)

3) a stable interest rate with the rest of Europe, this will mean increased investment (currency and capital) between european country's, increase wealth in the uk.

negatives

1) We ill have to follow interest rates set by the EU, instead of just to the UK (this may look like a good thing at the moment) but it financially restricts the country in forms of banking and finance, this inturn could decreased consumer spending if interest rates rise.

2) And of course the loss of the "Presitgious" £.

At the end of the day everyone would financially benefit form the euro, the only people that wouldn't are the government as they would lose a certain amount of Fiscal control.

edit:

But also theres a chance that to meet the criterea of joining the euro, the UK's economy could fall and we could end up living like eskimo's but warmer or something to that effect. so no no to euro

lol where did you hear that? the SUN?

Edited by M-i-t-c-h
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I personaly agree......

Lets try and Stop keep the Zenophobia down to a minimum?

first up, it's spelt Xenophobia

second, this is a british forum and we are a nation of xenophobes

if I weren't abstaining from all political activity until they start collecting my bins on a weekly basis again I'd vote for the euro cos I like the pictures on the notes.

see - pretty (and not just cos there's about 5,500 of them)

post-5340-1180386164_thumb.jpg

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There a several good things about the euro:

1) Increase trade with european country's, by avoiding exchange rates, this should in theory bring prices down from the eu trading bloc. inturn increasing "economies of scale" from other trading blocs(meaning be able to by stuff cheaper)

2) will eliminate the need for "hedging" to the eu (agreeing exchange rates)

3) a stable interest rate with the rest of Europe, this will mean increased investment (currency and capital) between european country's, increase wealth in the uk.

negatives

1) We ill have to follow interest rates set by the EU, instead of just to the UK (this may look like a good thing at the moment) but it financially restricts the country in forms of banking and finance, this inturn could decreased consumer spending if interest rates rise.

2) And of course the loss of the "Presitgious" £.

At the end of the day everyone would financially benefit form the euro, the only people that wouldn't are the government as they would lose a certain amount of Fiscal control.

I voted euro for these reasons.

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Has anyone considered the problem with free movement of Labour, or lack of it?

If we unify out currency with that of the rest of europe it makes is far easier for people from other EU countries to come here to work. Now this is fine as it also makes it far easier for us to go and work in their countries, so that's fine right?

Well no not really, because most of the main economic countries in the EU speak english as a second language, the majority of them speak it fluently so coming here to work would be easy as pie. However most of us in the UK don't speak a foreign language so in order to work there we would have to go on courses etc (it's not the same as just going there to live and learning the language over time).

So we don't have free movement of labour, we would have movement into this country but not movement out, the result, higher unemployment among english nationals!

Aside from that, the pound is the last shred of identity our contry has left, so lets keep it!

Davey

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