Should UK join the Euro now the rate is 1 to 1?
By BubblyIan
@BubblyIan (750)
December 14, 2008 6:41am CST
The currency markets are knocking the pound to all-time lows against the Euro. Ordinary people will get less than one euro for each pound exchnaged.
Is this a good time to switch to the Euro?Would it provide the stbaility the economy needs?Or is the UK economy so out of step with the continent that it would be a disaster? Is the Euro coming apart under the pressure of the collapsing financial markets anyway?What are your views?http://news.bbc.co.uk/2/hi/business/7782234.stm
1 person likes this
1 response
@underdogtoo (9579)
• Philippines
14 Dec 08
I don't understand very well the reasons why the UK maintains its own currency. It might be good to join the EU, currency-wise. Cheers!!!
@BubblyIan (750)
•
14 Dec 08
Because the UK economy is so totally different from the continental economies. Mainly in terms of the sensitivity to interest rates and the level of hom e ownership.
In reality the UK economy is out of step with the rest of Europe.
Also it makes no sense for most of europe either! Individual economies need control over their own destiny. We will see the smaller countries really suffering over the next few years with their inability to make local decisions to reflate their own economies.
I think the euro will fall apart very soon.
