Reply to: UK will ultimately join euro says Lord Heseltine

[DodgyAgent]

You think the markets are controlling these events?

Ultimately they always do

[scooterscot]

So it is the fault of the markets then?

You think the markets are controlling these events?

[BlasterBates]

The 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

The reality is that once this has blown over more countries will join the Euro, Poland are still on track, and will join it in 2014.

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?

[DodgyAgent]

What 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.

So it is the fault of the markets then?
and what evidence do you have to support your "ensuing growth" view?

[scooterscot]

The economic reality of the Euro has been unfolding in front of everyone's eyes, and it has proved that the euro sceptics were correct.

What 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.

[russell]

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 that

[DodgyAgent]

Only 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.

So its the medias fault that economies of the Euro are crashing around our ears but as long as you and Milan dont have to buy travellers cheques it is all fine then

[scooterscot]

Eh?

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?

Only 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.

[DodgyAgent]

As 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.

The 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

[Doggy Styles]

As 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.

Eh?

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?

[TimberWolf]

As 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.

Surely it would be more rational to keep pumping money from the Germans until the well is well and truly dry, and then go bankrupt. Seems a bit silly to leave and go bankrupt now and refuse free money.

[BlasterBates]

Sometimes I think BB that you are a bit of a dopey idiot. The whole point of where the sceptics are coming from is laid bare by the Swiss. That point is that Switzerland can do whatever it likes with its currency. Right now pegging it to the Euro means that it will not become too expensive and therefore price Switzerland out of export markets. You and the other pro euro fanatics will pick up any thread that suits your pro euro agenda. Switzerland by preserving its independence can take or leave the Euro or any other currency for that matter when it suits them.

As 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.

[TimberWolf]

There is a reason why Jesus threw the money-lenders out of the temple. He also saved an alleged prostitute from stoning. Top bloke he was!!

Okay, I can believe that the Earth was created 4000 years or so ago in 6 days, but I'm having trouble believing he could throw out money lenders without some serious backup.

[BrilloPad]

There is a reason why Jesus threw the money-lenders out of the temple. He also saved an alleged prostitute from stoning. Top bloke he was!!

He said "Let he who hath not sinned cast the first stone" And a woman stepped from the crowd and hurled a stone at the brass. And Jesus said "Mother please go home."

[Jeff Maginty]

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