Has the financial shenanigans of the past two years changed your mind about the Euro?

[Doggy Styles]

Moving between different countries in the EU without exchange agencies ripping me off every time I need the local currency has always had me leaning towards pro-euro.

I understand that argument, but surely that is small beer compared to the big economic problems it has caused?

As many have already said, each nation depends on interest rates and currency fluctuations to rebalance their economies, and those in the eurozone no longer have those options.

They are only left with the option of increasing taxes, which lowers their growth, which will in turn make their economies worse, with a reduction in standard of living and other problems that brings.

So in the end they depend on handouts from others, which drags down everyone.

[milanbenes]

DA,

giving polite consideration to the cobblers you just spouted about the Germans, how would you classify and explain Britain bailing out Ireland with 7bln gbp a few days ago ?

Milan.

[Doggy Styles]

DA,

giving polite consideration to the cobblers you just spouted about the Germans, how would you classify and explain Britain bailing out Ireland with 7bln gbp a few days ago ?

Milan.

Keep up milan. The UK now stands to lose a lot more than that if we don't. We have to deal with facts as they are today.

[AtW]

The Germans do not consume like we do. They keep their cars forever and they save the rest, which their banks lend to Greeks, Irish and Spanish to buy cars and property. They in turn cannot afford to repay the debts and then the Germans have to bail them out.

Yes, they are smart - they buy stuff that lasts (something that they make), and they value their money. That's why they are the richest economy in EU and export nearly as much as China.

[milanbenes]

Doggy,

fair enough :-)

Milan.

[VectraMan]

As many have already said, each nation depends on interest rates and currency fluctuations to rebalance their economies, and those in the eurozone no longer have those options.

They are only left with the option of increasing taxes, which lowers their growth, which will in turn make their economies worse, with a reduction in standard of living and other problems that brings.

And do you include the big economies like France and Germany in that? Both France and Germany came out of recession before us, and neither has independent control over interest rates or currencies. I'm not at all convinced by this argument that the only reason Britain was saved was because we have control over our interest rates and currency.

Maybe there's a good argument for saying the Eurozone was too keen to include any and all EU countries, and poorer countries like Greece shouldn't have been allowed in. But that doesn't necessarily mean that it would have been bad for the UK to have joined the Euro from the start.

[DodgyAgent]

DA,

giving polite consideration to the cobblers you just spouted about the Germans, how would you classify and explain Britain bailing out Ireland with 7bln gbp a few days ago ?

Milan.

basic self interest.

A British tax payer owned bank is owed £50 billion by Irish banks. Irish banks about to go bust. British lend ireland £7 billion to avoid bankcruptcy. Also Ireland is a major trader with Britain (7% UKs exports). We have got off lightly by spending £7 billion to keep Ireland in business.

[DodgyAgent]

Yes, they are smart - they buy stuff that lasts (something that they make), and they value their money. That's why they are the richest economy in EU and export nearly as much as China.

They are not that smart if they did'nt foresee the economic consequences of imposing the Euro on everyone are they? In fact they are greedy selfish bast**ds who are being made to pay just as they did when they invaded Russia in the last war.

[DodgyAgent]

And do you include the big economies like France and Germany in that? Both France and Germany came out of recession before us, and neither has independent control over interest rates or currencies. I'm not at all convinced by this argument that the only reason Britain was saved was because we have control over our interest rates and currency.

Maybe there's a good argument for saying the Eurozone was too keen to include any and all EU countries, and poorer countries like Greece shouldn't have been allowed in. But that doesn't necessarily mean that it would have been bad for the UK to have joined the Euro from the start.

The interest rates are set according to the whole EU economy and as the Euro economy is totally dominated by the Germans and the French then it stands to argument that they suit the French and Germans. There is a very good argument to say that many of the Euro countries should not have been allowed to join in the first place.

Britain was saved by virtue of being out of the Euro. If we had joined the Euro prices of UK products and services would have been at the level of when we joined £1.50. As it is our currency is relatively weak and we are able to export goods and services at competitive rates.

[milanbenes]

basic self interest.

A British tax payer owned bank is owed £50 billion by Irish banks. Irish banks about to go bust. British lend ireland £7 billion to avoid bankcruptcy. Also Ireland is a major trader with Britain (7% UKs exports). We have got off lightly by spending £7 billion to keep Ireland in business.

quite,

which is exactly the same argument you gave for Germany and Greece and Spain etc

so cutting a long story short, you have indeed turned full circle on yourself and admitted that Britain and Germany are very much alike in their behaviour on these matters

have rest old time, you've achieved a lot today and should take personal satisfaction and be more at peace with yourself and your views on Europe and Germany

Milan.