2007-10-02 18:24:01 · 7 answers · asked by Narky 5 in Social Science ➔ Economics
Sorry Barry... but the worry of France is partly why I asked this question.
http://www.telegraph.co.uk/money/main.jhtml?xml=/money/2007/09/26/ccfrance126.xml
They have admitted they are bankrupt and that they are a basket-case. Euro interest rate is way too high for them... they are well over 3% overspend each year.... and may have to take drastic measures.
2007-10-02 18:52:03 · update #1
The last time they tried a europe wide currency rate they called it the ERM. That was a disaster as different countries are at different stages of the economic cycle.
Gordon Brown certainly doesn't think it is a stable currency or we would be using it.
The only way it can be a long tern stable currency is if the EU becomes a federal state with one government running it all and an end to national governments.
The new treaty virtually abolishes the power of the UK parliament so possibly that may happen. Are you looking foraward to having to wait for laws to be translated from french or german?
2007-10-04 18:57:47 · answer #1 · answered by Anonymous · 1⤊ 0⤋
Yes I do. I'm English but live in France. I lived through the changeover from the Franc to the Euro, as I lived through the change from LSD to Decimal back in 69, and, after getting acclimatised to the new notes and coins everything is OK.
The Euro is currently strong against the Dollar 1E = $1.42 so loads of Europeans are on holiday in the States. Exports are taking a hammering though, but that's economics.
Any currency is purely a medium of exchange. It's true that at the time of the changeover shopkeepers "rounded" the price up, but that will only invite the cheaper hard discount stores to fill in that niche.
It's important that we compete on even terms with the States, and in the future with China and India.
Being pro Euro I appreciate the idea of travelling to a variety of countries and not having to change my money, thus losing a percentage via commissions and bank charges.
The Queen will remain minted on a British Euro for any of you people of a nostalgic disposition.
2007-10-02 18:49:50 · answer #2 · answered by Barry K 5 · 2⤊ 0⤋
I am afraid that i dont, due to the current exchange rate and the state of the country's economy switching to the Euro would almost devestate the country into a possible hyper infaltion. It would make shopping easier but it would de value a lot of products meaning a rise in prices and then a rise in wages, which would then mean that we endede up in a vicous catch 22 where nothing gets better and nothing appears worse. UNLESS it were to bring down housing prices and then i would be all for it! lol buying a house is an **** these days!
2007-10-03 00:34:56 · answer #3 · answered by Lise 3 · 1⤊ 1⤋
I don't have long-term trust in any currency.
During history civilisations have always fallen eventually.
At present, for example, the USA has problems and China/India are showing promise.
Always spread your risks in many ways - including geographically.
I feel somewhat positive about the Euro at present but if anyone could accurately predict the future they would "rule the world"!
2007-10-04 00:07:04 · answer #4 · answered by Anonymous · 1⤊ 0⤋
if you mean should britain accept the euro and give up sterling ,no.
sterling is now the strongest currency .why should we devalue to the euro or dollar,
2007-10-03 03:47:38 · answer #5 · answered by HaSiCiT Bust A Tie A1 TieBusters 7 · 1⤊ 1⤋
No and as a Briton my trust is in the Bank of England.
2007-10-02 18:43:23 · answer #6 · answered by Dragoner 4 · 1⤊ 1⤋
y not....is from a strong nations with sound economics and govt
2007-10-02 21:08:22 · answer #7 · answered by Anonymous · 0⤊ 0⤋