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    (Original post by Bruv)
    Would you economic analysts please enlighten me to why the UK still grasps on to its proud pound?
    incredible that university level people should ask this at a time when all the predicted flaws in the euro have come to light. Firstly,lets be a hundred per cent sure that for the people who want a single federal europe ,the euro is the financial symbol of that single european state. That state has no mandate in the uk,and many other european countries. We only ever voted for a common market -this was about the free movement of goods and services(to counter the growing power of places like japan then),we have never voted for political union. It should be our Human Right that transference of sovereignty from one country to another should only be done by referendum.
    Secondly. the euro was never viable because it took away the right to set interest rates locally ,depending on boom or bust. Lets not forget we had rioting in Greece long before the recession,because of their own recession. Their inability to reduce their own interest rates caused many social problems.
    Thirdly, the people who were the driving force behind political union forced the euro through even where the criteria for accepting the euro ie balanced books,hadn't been fulfilled. Guess where this was ? Oh yes -portugal,greece,italy,spain ,and ireland (even though some of these countries had an illusion of boom about them)
    Forthly,people said that if we weren't in the euro zone then we wouldn't get foreign investment. This patently did not happen. How come we have companies that have left the uk to go and set up in switzerland-a country not in the EU.
    Germany and france ,as the strongest economies ,should have had the euro first for a while to see any problems,and then other countries could have joined on a rolling basis when they genuinely met the criteria of good accounting.
    Why do we want to join an organization where the auditors have refused to sign off the accounts for something like 15 years.
    Also more of our trade is done with the rest of the world ,and with china and india booming,europe will become less significant .
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    (Original post by Peace'n'loveman)
    Secondly. the euro was never viable because it took away the right to set interest rates locally ,depending on boom or bust. Lets not forget we had rioting in Greece long before the recession,because of their own recession. Their inability to reduce their own interest rates caused many social problems.
    The interest rates in the Euro Zone were very low anyway. . So I don't believe the concept that Greece was unable to lower its interest rates would have had a significant effect upon its economic problems.
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    The Euro designs aren't really that nice.
    Probably the reason.
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    I'm no economist, but at the current financial situation at the moment. Doesn't the uk need a weak or lesser value currency like china?
    As far as I can understand it's is the fact that we have such a strong currency that is weakening us in the long run. I.e we can buy a **** load of stuff from other countries because it's so cheap for us but no one wants to buy off of us because it costs too much. And now all these countries are buying our assets and our currency and hence basically buying our economy and raising our interest rates.

    Yes? No?
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      (Original post by chemical_bex)
      The Euro designs aren't really that nice.
      Probably the reason.
      Lol yeah thats a good one
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      (Original post by DorianGrayism)
      The interest rates in the Euro Zone were very low anyway. . So I don't believe the concept that Greece was unable to lower its interest rates would have had a significant effect upon its economic problems.
      yes but the thing is that when greece joined the euro it only achieved the requirements for joining by Brussels itself being economic with the verity.The fundamental flaws were bound to show in economic crises . Everyone banked on years of un-precedented growth.
     
     
     
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