UK EU?

[Goodfella]

We were talking about this in school and I was wondering what people from Britain themselves thought about possibly changing from the pound to the euro. The american prespective seems biased to me, as most in my class UK should goto euro. What do you guys feel

[Melodramatic]

this may sound dumb but i really didn't know if there was a difference between pounds and euros. I'm bad at foreign currency. :cry:

[DavidAlizée]

keep the pound i say.. Why change something that works.. I think it should stay the way it is.

[Goodfella]

Yeah thats exactly what I thought, why mess with something thats working, but then again there are advantages to going to euro, like other nations have boosted their economies doin so

[mot]

keep the pound i say.. Why change something that works.. I think it should stay the way it is.

You're just saying that cause you're too lazy to change :kiss:
Hehe nah, it would be a good idea if they would join the rest of europe with the euro... I don't know why they kept it?

[Moco]

From a traveler's point of view, I think it would be great if the UK started using the Euro. When it was introduced for all the other countries, it just made traveling between them so much easier in that you didn't have to exchange money every time you visited a new country. I haven't heard of any major problems with other countries converting to the Euro, so I don't see why the UK can't do it.

[loveherfromusa]

Change all currency to the Uni as in universal or the Terra as in Earth? I know this could cause some problems, but why not work towards a world economy? The Earth is becoming more and more integrated as communication and dependence on foreign goods increases. Go towards an interchangeable currency. OK, OK, well, I think it is at least a good dream.

[Nikodemus]

I think euro should be used in all countries of the Union. It would probably balance the economy and prices on a long distance in Europe. And comparing prices would become easier. Of course the pound is one of the oldest and most traditional currencies in Europe so why would Britain want to change it.

[Ayan]

Maybe change € to £ , now that would be neat. 8)

[Manu]

I guess there's a double reason: economic and political. Cos of course there is a tradition and identity as a country element, but I'm sure that in the end, citizens don't have the last word. Plus, their opinions are probably based on political points of view as well.

The Pound not only means independence in economics, but also in politics. First, in economical terms, they must be afraid of losing control over monetary policy (exchange and interest rates mainly), in an European Union where Germany and France have the bigger influence ability in taking decisions. As for politics, it's not a coincidence that the Euro-scepticals were those who are, at the same time, pro-Americans.

However, British businessmen and people holding high-ranking positions in economic institutions, know that the Euro is a point of reference in the world and the most important currency, together with the Dollar, while the Pound is not. Almost 60% of British businesses and exports are focused in the continent, and they cannot have any influence on monetary politics if they don't have the Euro as national currency.

[Jaycubed]

if you are gonna listen to anyone on this...then listen to this guy ok ^

cos he's an expert. :P :P

[Los]

but i think one day, probably in a couple of few years, UK will have EURO as currency and not more Pound!

At the moment Pound is more strong than Euro...

... but year by year, it will lose is value and it must making face to our currency!!!...I'm sure!!!!

Euro rulez for a more and more solid Europe!!! 8) :thumbup: 8)

[Manu]

if you are gonna listen to anyone on this...then listen to this guy ok ^

cos he's an expert. :P :P

Haha thanks for the compliment, mate :oops: But 'expert' is too much for me yet lol.

I hope the UK gets the Euro as official currency very soon, I think it would be good for everybody.

[DavidAlizée]

Id still like to stick with the pound imo. e could have gone Euro when everyone else chanegd but we didnt. I don't think we will switch any time soon.

[Lía]

nor do i...

and the € has risen soooo much since the switch... :? which means that it's a bit more expensive...

and anyway... i like the £ now.... :cheesy:

[UK Fan 2003]

£'s to €'s....would be cool, but I prefer the £'s! :cheesy:

[MetalicGuy]

well.. i know this is a little bit off topic.. but.. here in sweden we had voting about changing our currency to euro... the result... a MAJOR NO!!! and i think that no was the only right for now.. i think we have to wait and see how it works for the other countries...

[Manu]

Well society don't like changes. I myself still think in Pesetas: if you say 6€, I think in 1000 pts, cannot help it. And everybody's like this, and I'm sure it's the same in the other euro-countries. I don't know why your country let people decide, since not everybody has to know the pros and the cons of the Euro.

[RR]

i guess to let the people decide shows a certain level of democracy. anyhow, its the people who will be affected by the change, so they'll basically "decide" whats "best" for themselves (and they can't complain if they made a bad decision afterwards)

[MetalicGuy]

i guess to let the people decide shows a certain level of democracy. anyhow, its the people who will be affected by the change, so they'll basically "decide" whats "best" for themselves (and they can't complain if they made a bad decision afterwards)

True.. What is democracy if the government don't ask the people first...

[Manu]

But there's something called "imperfect information ". That's also why you go to the doctor intead of taking medicines based on your own opinions. Cos the doctor knows and you don't. And that's not antidemocratic.

[Ayan]

i guess to let the people decide shows a certain level of democracy. anyhow, its the people who will be affected by the change, so they'll basically "decide" whats "best" for themselves (and they can't complain if they made a bad decision afterwards)

True.. What is democracy if the government don't ask the people first...
Isn't the government supposed to be, i don't know ... the representatives of people maybe ?
I like euros, what's there not to like. It's much easier to travel in Europe thisway - no need for the bothersome currency exchange.

[MetalicGuy]

i guess to let the people decide shows a certain level of democracy. anyhow, its the people who will be affected by the change, so they'll basically "decide" whats "best" for themselves (and they can't complain if they made a bad decision afterwards)

True.. What is democracy if the government don't ask the people first...
Isn't the government supposed to be, i don't know ... the representatives of people maybe ?
I like euros, what's there not to like. It's much easier to travel in Europe thisway - no need for the bothersome currency exchange.

Well... i agree with that.. but i think voting is the only right thing in major decisions like this...and the people were very informed about euro.. trust me.. and btw.. i'm against euro for now... i have tons of arguments against it.. but I'm not up to write them.. here and now...

[DavidAlizée]

I like the £. I don't see any need for change. I don't have a problem with $, £ or euros. I believe that we as Britain are a very independent country, we are proud of our currency... we didn’t change when the rest of Europe did, no need to do it now. We don't see no need to give up our history of the £ and follow the sheep.

I like the British currency, no need to change.

[a.c. ajaccio]

if uk joined the single currecy their interst rates would be set by another country - this is stupid because the rate that suits one country won't necessarily suit another, besdies the pound is strong at the moment so it just wouldn't make sense.

[Starski]

Keep the £!
I will never change our franc into €. I don't know why, but I don't want it. (Well....we aren't in the EU...so it doesn't matter....now)

[Manu]

if uk joined the single currecy their interst rates would be set by another country - this is stupid because the rate that suits one country won't necessarily suit another, besdies the pound is strong at the moment so it just wouldn't make sense.

I don't think you know what you are talking about. If the UK joined the Euro, then the country would lose the monetary policy. But that has nothing to do with what you said.

Monetary policy is focused on money supply, and this is the the amount of money within the economic system. It can be increased or decreased, with different effects, and the main goal is price stability.

The interest rate has a lot to do with money supply. And, there is a double interest rate: reference rate (set by the Central Bank, and never by "another country", as you said) and the interest rate of the economy.

The first one, the reference rate, is the price of the money loaned by the Central Bank to a commercial bank. If the CB wants to increase the money supply, then the CB will want to loan more money to banks, and then will want the reference rate to be low. And viceversa.

But the another part is the interest rate of the economy, and this one is set by the equilibrium in the money market: which depends on supply and demand:

http://www.bized.ac.uk/virtual/economy/policy/tools/interest/intth1.gif

And this rate does always suit, cos it's set in the equilibrium, and therefore, it depends on the demanders and suppliers, including yourself.

Still with me? lol. The opinions based on 'patriotic' feelings and historical tradition are very respectable, but I think in the UK there are proffesionals who know better than people what's better and worse in issues like this one. And I'm not saying that joining the Euro would be better for the UK, cos I don't know, I can only assume some pros and cons.

[RR]

^you really know your money. haha.

[Tristana]

Well society don't like changes. I myself still think in Pesetas: if you say 6€, I think in 1000 pts, cannot help it. And everybody's like this, and I'm sure it's the same in the other euro-countries.

That's right. I just can't help thinking in francs ! 15€ is for me 100F et I don't know if someday I will finally be able to think in €...

I'm not an economist, but the only thing I can say is that prices increased a lot when the € appeared. And it was not really great.

[DavidAlizée]

If i ever have money troubles, im coming knocking on your door manu, you can be my personal accountant :wink:

[tern]

Won't happen any time in the near future.

[Joseph]

Yeah thats exactly what I thought, why mess with something thats working, but then again there are advantages to going to euro, like other nations have boosted their economies doin so

And then you have that little issue where no country has any national identity and yeah...

...
:tongue:

[a.c. ajaccio]

if uk joined the single currecy their interst rates would be set by another country - this is stupid because the rate that suits one country won't necessarily suit another, besdies the pound is strong at the moment so it just wouldn't make sense.

I don't think you know what you are talking about.

The interest rate has a lot to do with money supply. And, there is a double interest rate: reference rate (set by the Central Bank, and never by "another country", as you said) and the interest rate of the economy.



first of all thank you for your rude reply :roll: , it just makes you look ignorant.

....secondly most of that crap you typed had nothing to do with my original post so why bother quoting me? I was suggesting (as highlighted above) that the interest rate would be influenced by a Central Bank as you have said yourself (The European Central Bank).

Now go back to your economics book and read, but please get your facts right next time :twisted:

[Manu]

Sorry if I looked rude, I didn't mean to. I just tried to explain why you were wrong, though you haven't understood it yet. Next time I'll keep in mind that your ideologies are already set, and no real fact will change them. And yeah, I'm going back to those books you should read before talking, instead of wasting my time trying to help ungrateful people like you.