UK People, Will UK Join Euro?

[Vendot]

What are the chances of the UK joining the euro? If the UK joins the euro, what will be the consequences for the UK people? Will they get 1 for 1? Or will the pound be a lot weaker so everyone loses money on the deal.

[Sarah_Jayne]

Not any time before the next general election unless something freakish happens and the public (ie 'the papers') start demanding it.

[Pornwolf]

The pound is still a bit too strong, but it's coming close to the same strength as the Euro against most currencies. When British economists can forsee a time when the Euro may become stronger than the pound it will probably happen.

[Twoface31]

i Think if they join in euro, it mean their status as a world power is the end......

[Vendot]

Originally Posted by Sarah_MaxCash

Not any time before the next general election unless something freakish happens and the public (ie 'the papers') start demanding it.

You're probably right, though the conservatives are claiming that the government is seriously considering it and at the end of the day, if they were, they would never admit it. Personally, I reckon its inevitable whether now or a couple years from now.

Pound is now effectively worth less than a euro (at least it is where i get em) so I dont think too many people would have a problem with it.

[SGS]

Not in a million years. lol

[adonthenet]

I don't think it will happened... but who knows =)

[u-Bob]

in 2 years... max.

[Sarah_Jayne]

Originally Posted by Vendot

You're probably right, though the conservatives are claiming that the government is seriously considering it and at the end of the day, if they were, they would never admit it. Personally, I reckon its inevitable whether now or a couple years from now.

Pound is now effectively worth less than a euro (at least it is where i get em) so I dont think too many people would have a problem with it.

Brown can't do it now without the huge backing of 'the public' or he will fall right into the trap that the conservatives have laid for him with their claim that they are planning on it. The Torries know that it would push a number of people that vote for fringe parties to vote Torry just to attempt to stop it from happening. It is a clever trap but I don't think Labour will fall for it. Of course, this has nothing to do with if it would be good for the nation or not.

[marcjacob]

They cant do it without a referendum. And imo they cant win a referendum on it. The public just dont want the euro. Probably for non economic reasons as much as anything. The euro notes are horrible and alot of people simply like the pound.

How many normal voters actually understand the economic arguments for and against? Id say most just get on with their lives and dont look into that.

It would take a massive shift in public opinion to make it viable. Even the media supporting it probably wouldnt be enough to persuade enough people to vote yes.

[mafia_man]

They'll seriously consider it if the pound drops below parity with the Euro. But as of now, even the liberal papers (guardian) once in favor of joining the Euro are stepping back and saying maybe we should wait.

Myself not being a flag waving fool see the advantages of using the Euro.

1. Cheaper more competitive banking, you can send Euros from one account to another almost anywhere in the EU for free. More competitive mortgages, loans etc.
2. No unfavourable exchange rates when doing business in Europe.
3. A stronger currency against the dollar.
4. The Queen would appear on coins for the Nationalists.
5. Makes it far easier to import and export in the EU.

The bad:
1. Central Bank interest rates won't be controlled by us. But maybe this is a good thing considering the Bank of England will cut rates to 0 before long.

But the British people see it as surrendering some sovereignty rather than good business sense.

[MediaManiac]

Originally Posted by Vendot

What are the chances of the UK joining the euro? If the UK joins the euro, what will be the consequences for the UK people? Will they get 1 for 1? Or will the pound be a lot weaker so everyone loses money on the deal.

never!!!

[thunder99]

Britain is ruled by Daily Mail readers, so the short answer is no, never.

Shame really, I think the Euro could be good for the country and make the brits realise that they are actually a part of Europe.

[slapass]

London is such a huge banking center that it makes sense. It is funny that so many people are against it.

[pornguy]

I think the pound would have to weaken quite a bit first.

[Pornwolf]

Originally Posted by pornguy

I think the pound would have to weaken quite a bit first.

It's getting weaker by the day. The Euro is nipping at it's heels in a way I didn't expect to see.

[Vendot]

Originally Posted by slapass

London is such a huge banking center that it makes sense.

Was........ revenues derived from financial services has collapsed since the crisis begun. The UK government will probably have to print money if it cant sell debt, and because the pound represents less 4% of worldwide currency reserves (as compared with 50% for the USD) then that'll probably put significant downward pressure on the pound.

Economy is in awful shape....... maybe theyll introduce Euro but allow Pound to continue side by side? Is that even allowed? If so, people would ultimately ditch the pound as it would become worthless sooner or later.

[borked]

we don't want you

[PornoStar69]

Fuck the Euro its really gay

[Ethersync]

The Euro may not survive the serious recession that is coming in Europe

[Ross]

I hope never. Even tho the pound and euro are almost the same, things will increase in price and salaries etc won't. So the average person will be fucked in the ass again at a time when most people can't take anymore ass fucking. See what I mean?

This would be a terrible thing for the UK if it happened.

[DutchTeenCash]

that would really really surprise I dont see the UK getting the Euro in a long time

British ppl are too different on many subjects to give in, check the metric system there, any idea how many are still on imperial and not just in the country. Ask a guy his weight and he says X stone.

[mafia_man]

Sweden is showing commitment to join, Denmark has already said it will.

Just us now...

[tranza]

Never never!

[roly]

Originally Posted by Twoface31

i Think if they join in euro, it mean their status as a world power is the end......

we're a nuclear power with the 4th or 5th biggest economy in the world, a major player in the world of finance, etc etc we'll always be a world power.

[roly]

Originally Posted by pornguy

I think the pound would have to weaken quite a bit first.

lol it has weakened massively in the last couple of months. but it will rise again in a year or two when the recession lifts

[Vendot]

Originally Posted by roly

we're a nuclear power with the 4th or 5th biggest economy in the world, a major player in the world of finance, etc etc we'll always be a world power.

Youll find that our position on the list of largest economies will fall over the next few years. Our economy is adjusting to massive leverage and debt issues and that adjustment is causing serious pain...... the meagre 3% growth we had was funded by debt.

As for being a major player in the world of finance, that has come to an abrupt end... it will take a very long time to restore confidence.

http://www.hindu.com/2008/10/13/stor...1352781400.htm

As for being a world power, well I think the UK will always retain a strong position in the overall hierarchy but I doubt being a nuclear power has much to do with that.

[The Duck]

Its just a matter of time. They will force it down out throats if they have to.

Sweden voted down the euro a couple of years ago and now they are talking about a new election. They are just giving the illusion of having freedom to choose these kind of things when in fact they will push it until they get what they want.

[lagcam]

Not any time soon if you ask me. With the UK banking sector as it is the last thing the government need is to take away from them the huge commission income from GBP/EUR foreign currency transactions.

Whatever the actual exchange rates are there is always a spread for them to make money from.

[roly]

Originally Posted by Vendot

Youll find that our position on the list of largest economies will fall over the next few years. Our economy is adjusting to massive leverage and debt issues and that adjustment is causing serious pain...... the meagre 3% growth we had was funded by debt.

As for being a major player in the world of finance, that has come to an abrupt end... it will take a very long time to restore confidence.

http://www.hindu.com/2008/10/13/stor...1352781400.htm

As for being a world power, well I think the UK will always retain a strong position in the overall hierarchy but I doubt being a nuclear power has much to do with that.

i only read the first few lines of that article as i'm just off out, but i would certainly feel safer putting my money in a uk bank than a botswanian bank, which they suggested was safer.

[B2BwithJoeD]

Great thread vendot Thanks to all the UK posters for the insight

Do You Really Bill the UK?

[u-Bob]

I'll say it again: 2 years... max...

[Ethersync]

Originally Posted by mafia_man

Sweden is showing commitment to join, Denmark has already said it will.

Just us now...

Sweden's banks are fucked because of their exposure in Eastern Europe. They want to run into the Euro to get a bail out from the ECB. If they succeed it won't be good for the Euro in the medium to long term.

[DVTimes]

a few years ago i would say no.

but i wonder if as the resesion gets worse, i could see the rest of the eu recovering much quicker (mainly as property has not droped as much as in the uk where prizes of houses went silly).

i think if people think if we join the euro we may have jobs then i think there will be more chance.

also people in the uk are getting more used to it as they use it when they are on holiday.

[DVTimes]

i would suspect if we (uk) got it, after a week no one would care.

plus when was the last time i used the pound? i used debit cards for payments. so what difference does it make what sybol is at the start?

in truth how many of use use real money these days?