why doesn't the UK use the euro??

Question

im from Peru and i looked at questions about this: britts say patriotic stuff like "the continent is aislated" and European people call you British people xenophobic and egocentric.
the only reasonable answer i read said that it is because the British pound is stronger than the euro but i still don't understand exactly WHYYYY??
could anyone explain this to me? (economically and neutrally)

thanks, by the way, i think england rocks

sorry, i met england when i said the UK.

Answer 1

If we join the euro then we are at the mercy of the European Central Bank with regards to things such as interest rates.

With so many member countries, you can never have a central european interest rate that would benefit all the countries.
An example of this is when Ireland was in a boom period at start of century and Germany was in the economic doldrums, you could not raise interest rates for one country and lower them to kick start the german economy. You end up with a mismash of a financial policy, and the value of your economy is out of your own hands.

Answer 2

The UK opted not to use the Euro, but they were not the only country in the EU, Denmark doesn't use it either.

However, the fact that the UK doesn't use it doesn't make them xenophobic. There were elements of xenophobia in British society for a very long time before there was ever a Euro. Every country has elements of xenophobia, not just the UK.

Answer 3

the united statesforeign places funds is £ ( sterling) in if some better seashores different foreign places funds would be regularly occurring yet no longer at a sturdy replace value and any substitute given in sterling............... besides the undeniable fact that in the time of Northern eire uk many retail shops take the two sterling and Euro's and the daily replace value is desperate, lots of people who stay in eire( Euros)/Northern eire ( sterling) have the two currencies and use the two the two factor of the border.............

Answer 4

There are three reasons. One is that UK banks are making too much money on changing currency for holiday makers, and they give too much money to politicians for them to allow a change.

Second, the media is controlled by a few powerful interests who stand to loose personally from the loss of sterling. Sky News tells people to love the Pound so Murdock makes more cash.

Finally, the UK is not currently able to join. The Eurozone has rules on the level of debt allowed for members. The UK is at about 4.5% of GDP and the limit is 3%. So if they applied now, they would be rejected.

Answer 5

England may rock but it isn't the UK, only a part of it.

You are wrong to say that the Euro isn't used in the UK. It is used in the border regions of Northern Ireland and the Republic with shops, restaurants etc accepting it.

Answer 6

Rich men and asses in the government are speculators.
Since the $ US Dollar is out and the Yen collapsed, there were no other stable and valuable money to speculate upon. Enter the Euro. If Britain join the Euro, hard to speculate with and little returns but outside the Euro, easy to speculate and amass a lot !

Answer 7

The Euro is now plunging, and the pound soaring!

Answer 8

I wish I could answer but nobody has given me a good enough justification as to why we don't use the Euro. But then nobody has given me a good enough justification as to why we should use the Euro either.

But basically the politicians did not agree to use the Euro and so we don't.

Answer 9

Some shops in UK take the Euro. Marks & Spencer take Euros!

Answer 10

It might have to do with the same thing as learning an other language. They can't and now you expect them to use a new currency it won't work.
Believe it or not, the English complain when going to an other country, if they don't speak English, perhaps just Spanish or could it be that the average English is very low educated - shouldn't be.