Wait a minute, let me get this straight - If Greece defaults

[Old Greg]

[



Perhaps Britain should just join the euro, you know better the devil you know and all that.

Why on earth would anyone after all that has happened be stupid enough now to join the Euro?

It would be much more convenient when going on holiday.

[centurian]

It would be much more convenient when going on holiday.

What - to Scotland, with their funny currency

I still remember that was one of the main arguments for signing up to the Euro - back when we had a half chance of joining "Think of the all the money you'll save when you go abroad on holiday"

A bigger problem is that a fair few people would have probably been swayed by that argument - though very fortunately for us, not enough to swing it.

[Freamon]

I don't think Greece will default outright. There will probably be some kind of debt restructuring. This, however, WILL trigger an Event of Default under the CDS contracts, so they'll all pay out.

[SueEllen]

It would be much more convenient when going on holiday.

1. Not everyone goes on holiday in the Eurozone
2. As the value of the Pound:Euro has decreased more and more British people have gone on holiday outside the Eurozone .

Indicating that if we joined the Euro because the price of everything in Eurozone countries would go up more people would go on holiday outside the Eurozone.

So as importers and exporters are managing there is no reason for us to join the Euro.

[DodgyAgent]

Well we've not exactly got a track record in fiscal righteousness, have we?

All this talk of 'we got our own currency' we're saved! In my eyes the people of Britain are seen very much as a commodity, a way out, they'll pay no matter what. I'm beginning to think it's true. I admire the Greek people challenging the status quo.

What we've actually got is out of control inflation and a standard of living that continues to decline. Year on year you've seen the £ in your pocket become weaker and weaker, what are you defending?

We may not have a track record of fiscal righteousness but it is our fiscal righteousness. Why on earth do you think that someone else could make our financial decisions and do so in our favour?

The complacency is mind boggling. The wars that were fought and the people killed so that we could have free democratic control over, and be accountable for, our financial decisions. To give it away just because some of you think that we are not very good at running our finances.
Well who else is better?
At least with our own currency with the economy struggling the value of the pound will fall
making our goods and services more competitive and slow down imports. That is how a currency works.
So what if the pound becomes worth less for a while. It is the price we pay for indulging labour for so many years.
It is all very well congratulating the Greek people but it is they that have voted for the people who run their economy, and it is they that now have to pay the price to straighten out their economy. They can protest all they like but they will have to sort out their own problems.

[b0redom]

No, but you probably have quite a few pennies invested in funds/products that have invested in Greece - even though they don't know it themselves until the dominos start falling.

I cunningly get around this by not having any savings/fund/stocks at all.



They said I was dumb, but who's laughing now?

[Sysman]

I still remember that was one of the main arguments for signing up to the Euro - back when we had a half chance of joining "Think of the all the money you'll save when you go abroad on holiday"

A bigger problem is that a fair few people would have probably been swayed by that argument - though very fortunately for us, not enough to swing it.

The best argument I heard for joining is that we might get access to lower interest rates. Colleagues in Germany and Holland were paying 5% on their mortgages when I was paying ~15%. Naturally I couldn't see the UK banks being in favour of that.

A friend did take out a French mortgage, but that hurt when the pound plummeted against the Franc in the 90s.

[scooterscot]

The complacency is mind boggling.

Speak for yourself.

We may not have a track record of fiscal righteousness but it is our fiscal righteousness. Why on earth do you think that someone else could make our financial decisions and do so in our favour?

Because we're incapable of making the right decisions. That fact interest rates have been kept so low is criminal.

The wars that were fought and the people killed so that we could have free democratic control over, and be accountable for, our financial decisions. To give it away just because some of you think that we are not very good at running our finances.

A number of my family members died in Briton's many wars, recently too, and I solemnly tell you currency or finance had nothing to do with they're taking part in conflict.

Well who else is better? .

The Swiss, the Norwegians and less not forget the Canadians.

At least with our own currency with the economy struggling the value of the pound will fall
making our goods and services more competitive and slow down imports.

And what goods exactly are we going to export to the world that's going to pull us out of this mess we're in? Zip.

Services? You've got to be kidding me. Skilled workers in the service sector, well skills are portable, they'll simply leave the country as they have done since 2008. I've a feeling you'll not be joining them.

It is all very well congratulating the Greek people but it is they that have voted for the people who run their economy, and it is they that now have to pay the price to straighten out their economy. They can protest all they like but they will have to sort out their own problems.

And that's what you call Democracy? That's the democracy we fought tooth and nail for? Even in our own country calling what we have democracy is tantamount criminal. Our so called politicians would appear spineless and without authority unless permission is given by their financial masters.

[DodgyAgent]

Speak for yourself.



Because we're incapable of making the right decisions. That fact interest rates have been kept so low is criminal.



A number of my family members died in Briton's many wars, recently too, and I solemnly tell you currency or finance had nothing to do with they're taking part in conflict.



The Swiss, the Norwegians and less not forget the Canadians.



And what goods exactly are we going to export to the world that's going to pull us out of this mess we're in? Zip.

Services? You've got to be kidding me. Skilled workers in the service sector, well skills are portable, they'll simply leave the country as they have done since 2008. I've a feeling you'll not be joining them.



And that's what you call Democracy? That's the democracy we fought tooth and nail for? Even in our own country calling what we have democracy is tantamount criminal. Our so called politicians would appear spineless and without authority unless permission is given by their financial masters.

The Swiss, Canadians and Norwegians are not members of the Euro. Do you realise (quite apart from being able to explain the logistics of having these people run our economy) what a stupid comment you have made

Does it occur to you that maybe they don't wish to join the Euro for very good reasons

[AlfredJPruffock]

Britain should not adopt the Euro as it would place too many restraints on our National Economic Policy - also the Eurio was designed to prelude the EU Political Union - the reality is that Politcal Union with the current EU states membership is not going to happen - certainly not in its current format.

Britain should remain with the EC - the Euro project is not finished - it will survive this crises and energe the stronger - ditto for the US indebted economy - but the ultimate goal of the Eurocrats - ie European Fiscal followed by Political Union - will not be achieved any time soon.