Originally posted by DodgyAgent
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UK will ultimately join euro says Lord Heseltine
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Originally posted by BlasterBates View PostAs some Eurosceptic pointed out, if Greece wants to have an independent currency it can leave tomorrow. Of course there will be a run on the banks and the whole place goes bankrupt. In the same way the Swiss will have to remain pegged to the Euro for the forseeable future. The sceptic's arguments are very naive in that they are based on a "basic instinct" of distrust of something they don't understand rather than any economic rationality.Comment
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Originally posted by BlasterBates View PostAs some Eurosceptic pointed out, if Greece wants to have an independent currency it can leave tomorrow. Of course there will be a run on the banks and the whole place goes bankrupt. In the same way the Swiss will have to remain pegged to the Euro for the forseeable future. The sceptic's arguments are very naive in that they are based on a "basic instinct" of distrust of something they don't understand rather than any economic rationality.
Correct me if I'm wrong, but hasn't the economic rationality of the euro been taking a bit of a battering for some time now?
And getting worse?
With no solution as yet on the horizon?Comment
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Originally posted by BlasterBates View PostAs some Eurosceptic pointed out, if Greece wants to have an independent currency it can leave tomorrow. Of course there will be a run on the banks and the whole place goes bankrupt. In the same way the Swiss will have to remain pegged to the Euro for the forseeable future. The sceptic's arguments are very naive in that they are based on a "basic instinct" of distrust of something they don't understand rather than any economic rationality.Let us not forget EU open doors immigration benefits IT contractors more than anyoneComment
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Originally posted by Doggy Styles View PostEh?
Correct me if I'm wrong, but hasn't the economic rationality of the euro been taking a bit of a battering for some time now?
You don't realise it until you use it.
For banks that bet on the futures of countries using the currency it falls down, hence why I can see the tobin tax becoming a reality."Never argue with stupid people, they will drag you down to their level and beat you with experience". Mark TwainComment
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Originally posted by scooterscot View PostOnly by the media living outside the EU zone. On a individual level it works well, I frequent Italy, Austria, Spain and use the same currency without worrying about charges etc. I use my UK account in any of those countries and it's phone calls 'sorry we bard your card because you did not tell us you were leaving the country or it a bucket full of charge when I get back because I'm not with the 'rich bank'. It's all hodge podge.
You don't realise it until you use it.
For banks that bet on the futures of countries using the currency it falls down, hence why I can see the tobin tax becoming a reality.Let us not forget EU open doors immigration benefits IT contractors more than anyoneComment
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There are two options open to Eurozone, fix the structural failures or accept the Euro project has failed and plan an exit. Both will be painful and could easily cause a major financial crisis, civil war and more governments to fall.
Good luck with thatComment
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Originally posted by DodgyAgent View PostThe economic reality of the Euro has been unfolding in front of everyone's eyes, and it has proved that the euro sceptics were correct.
While bond holders are doing they're upmost to bring euro countries down probe every crack, and failing, measures are being debated to prevent such situations ever taking place.
For those countries that survive the rallying, stability and growth awaits."Never argue with stupid people, they will drag you down to their level and beat you with experience". Mark TwainComment
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Originally posted by scooterscot View PostWhat you call unfolding I call strengthening.
While bond holders are doing they're upmost to bring euro countries down probe every crack, and failing, measures are being debated to prevent such situations ever taking place.
For those countries that survive the rallying, stability and growth awaits.
and what evidence do you have to support your "ensuing growth" view?Let us not forget EU open doors immigration benefits IT contractors more than anyoneComment
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Originally posted by DodgyAgent View PostThe economic reality of the Euro has been unfolding in front of everyone's eyes, and it has proved that the euro sceptics were correct. The economic realities are stark staring obvious. It is the europhiles who are utterly detached from the economic realities of the euro
If the Euro is obviously bad, why hasn't the Polish government come out and said it? Why do they still want to join? When you can answer those two questions you'll understand the economic arguments for the Euro.
In fact the Eastern European countries outside the Eurozone will struggle more than countries within the Eurozone because they'll not have access to credit. If a country like Italy or Greece suffers it's not because of the Euro, but self mismanagement. Are the Polish government going now to come out and say that they won't join the Euro because they realise they're too incompetent and couldn't handle all that cheap money? I don't think so.
Once Poland have joined, the Czech Republic, Romania and then Bulgaria will be close behind.
The reason they're joining is not some irrational wish, it's to increase living standards.
...and finally why do the vast majority of the Greeks want to keep the Euro? I mean if it is so obviously bad surely?Last edited by BlasterBates; 21 November 2011, 11:18.I'm alright JackComment
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