Anyone on here know info about if the UK
15-11-2004, 08:16 PM
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Anyone on here know info about if the UK
Joined the Singel currency. I know its a bit of a long shot but i need to know the argument against the UK joining the Single currency (facts etc). Anyone know where i could look. As i be choosen to do a debate on it in one of the lectuers though i think the single currency seems like a good idea 
15-11-2004, 08:28 PM
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15-11-2004, 08:33 PM
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The main problem for us joining it; our economy is stable at the moment, however by joining a single european currency we would lose out cause you only now have to look at how strong the German Economy was before it entered into the single euro. Also the bank of England would no longer have control of the base rate, inflation would rise as we have to help support the "poorer" states in the single euro.
15-11-2004, 08:38 PM
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Yeah Tony kinda know that but i need to go into a lot more detial and have some facts to back me up and i dont want to lose this debate as the person whos arguing for is French!!!!!! 
15-11-2004, 08:45 PM
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Can you not log into any additonal material from your uni? Im on a Law Degree and we have a system called athens where I can look up info for all courses and there content, if it had of been about the single euorpean nature could have helped ya big style. Your best bet is start searching on sites like the guardian and the times as they have regualr features on this sort of thing.
http://money.msn.co.uk/specials/euro/fiveeconomictests/
also these are the 5 key tests, so may give u an idea of what you can argue for/against. Cause with labour its as clear as to understand as steve wonder reading the small print of his record deal
http://money.msn.co.uk/specials/euro/fiveeconomictests/
also these are the 5 key tests, so may give u an idea of what you can argue for/against. Cause with labour its as clear as to understand as steve wonder reading the small print of his record deal
15-11-2004, 08:53 PM
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Yeah Tony we got Athens access, just wanted to know what else was out there really. I can waffle on for ages about it, but i would like to quote some facts they wouldnt expect etc to see if i can give the frog a run for its money
Out of intrest wha do u think of the EU constitution? Think should pull out all together IE UKIP or join in whole are try to waiver it abit
Out of intrest wha do u think of the EU constitution? Think should pull out all together IE UKIP or join in whole are try to waiver it abit
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15-11-2004, 09:17 PM
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It would certainly be far easier for me if we did, it means i would not have to look through loads of ancient english cases and then make sure there is no european binding on them, 1 set of laws for a modern world.
At the moment the law lords will oppose (most of them) cause it takes there power away. So they dont like that, what would they do with themselves!!
Im for it all right, but not the single currency at the moment, the pound is far to strong. look at the exchange rate we get against the dollar!! I think the euro is about $1.29 or something.
At the moment the law lords will oppose (most of them) cause it takes there power away. So they dont like that, what would they do with themselves!!
Im for it all right, but not the single currency at the moment, the pound is far to strong. look at the exchange rate we get against the dollar!! I think the euro is about $1.29 or something.
22-11-2004, 08:58 PM
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Whoosh had the debate today and whip the floor with the French Girl!!
Kinda conviced the UK shouldnt join the Euro now haha. Though i know deep down we should
Kinda conviced the UK shouldnt join the Euro now haha. Though i know deep down we should
22-11-2004, 10:08 PM
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lets have a debate on this thread
the only reason our economy is ok at the moment is because everytime there is a lull in high street spending our government drops the base rate, this encourages people to borrow more cos its cheap, it doesnt encourage people to save because the interest rates are so low,
sounds an ideal world where the base rate keeps dropping,we borrow more,spend more on the high street and economy is booming.... that is until there is another lull and the base rate is so low it cannot be dropped anymore, then its payback time ,
you can always tell when the bank is about to up the rate, government all of a sudden says its wrong to borrow money
cheers nomad
the only reason our economy is ok at the moment is because everytime there is a lull in high street spending our government drops the base rate, this encourages people to borrow more cos its cheap, it doesnt encourage people to save because the interest rates are so low,
sounds an ideal world where the base rate keeps dropping,we borrow more,spend more on the high street and economy is booming.... that is until there is another lull and the base rate is so low it cannot be dropped anymore, then its payback time ,
you can always tell when the bank is about to up the rate, government all of a sudden says its wrong to borrow money
cheers nomad
23-11-2004, 07:55 AM
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some very valid points!
(also, athens is pukka for this sort of thing, having studied, and written an essay on the single european currency- gota love economics at times aint ya! lol)
agree with tonyk about us having to join it eventually- were gona lose our independance, but it will have to be done!
the main problem lies in the vast differences in each individual economy as has been said, you can almost argue it on a much smaller scale, as in the uk, with the north-south devide- at times in the late 80's/ early 90's you could have argued that they needed separate currencies as their effective "economies" were in different situations...........
what most people whom aint studied this sort of stuff don't realise is the bigger picture....... for example, its kool with nomad saying about the base rate- the principles are true, but how do you account for the balance of payments, exchange rates, other coutries interest rate descisions so on and so-fourth, all of which do have quite an effect on our own lives, more so than peeps realise!
also, you need to think about the very nature of the entire banking system that is being used- are the central bankers accountable directly to governament- are they able to implement IR increases/decreases that are nescessary, whilst not being for the short term good- for example burst a bubble prematurely in an attempt to curb the boom-bust nature of economies historically.... there really is soo much more to it than there first seems!
(also, athens is pukka for this sort of thing, having studied, and written an essay on the single european currency- gota love economics at times aint ya! lol)
agree with tonyk about us having to join it eventually- were gona lose our independance, but it will have to be done!
the main problem lies in the vast differences in each individual economy as has been said, you can almost argue it on a much smaller scale, as in the uk, with the north-south devide- at times in the late 80's/ early 90's you could have argued that they needed separate currencies as their effective "economies" were in different situations...........
what most people whom aint studied this sort of stuff don't realise is the bigger picture....... for example, its kool with nomad saying about the base rate- the principles are true, but how do you account for the balance of payments, exchange rates, other coutries interest rate descisions so on and so-fourth, all of which do have quite an effect on our own lives, more so than peeps realise!
also, you need to think about the very nature of the entire banking system that is being used- are the central bankers accountable directly to governament- are they able to implement IR increases/decreases that are nescessary, whilst not being for the short term good- for example burst a bubble prematurely in an attempt to curb the boom-bust nature of economies historically.... there really is soo much more to it than there first seems!
23-11-2004, 08:45 AM
#14
............
Originally Posted by nomad
lets have a debate on this thread
the only reason our economy is ok at the moment is because everytime there is a lull in high street spending our government drops the base rate, this encourages people to borrow more cos its cheap, it doesnt encourage people to save because the interest rates are so low,
sounds an ideal world where the base rate keeps dropping,we borrow more,spend more on the high street and economy is booming.... that is until there is another lull and the base rate is so low it cannot be dropped anymore, then its payback time ,
you can always tell when the bank is about to up the rate, government all of a sudden says its wrong to borrow money
cheers nomad
the only reason our economy is ok at the moment is because everytime there is a lull in high street spending our government drops the base rate, this encourages people to borrow more cos its cheap, it doesnt encourage people to save because the interest rates are so low,
sounds an ideal world where the base rate keeps dropping,we borrow more,spend more on the high street and economy is booming.... that is until there is another lull and the base rate is so low it cannot be dropped anymore, then its payback time ,
you can always tell when the bank is about to up the rate, government all of a sudden says its wrong to borrow money
cheers nomad
23-11-2004, 10:01 AM
#15
Testing the future
you also have to realise that there are massive differences in the way that the economies of different countries works.
i see a huge difference, just in the housing markets in germany and gb. in germany there is not the constant buy and sell, switch mortgage, negative equity, blah, blah that you have in britain. people buy a house to live in, not to sell it a few years later for a profit.
yes, things got more expensive when the euro was introduced, but most of that was profiteering from businesses. the fact that the german economy is in a recession has little to do with the single currency, and much more to do with the unification of former east and west, and the common 1st world problem of a decreasing young population to pay for the healthcare and pension of the older population.
i see a huge difference, just in the housing markets in germany and gb. in germany there is not the constant buy and sell, switch mortgage, negative equity, blah, blah that you have in britain. people buy a house to live in, not to sell it a few years later for a profit.
yes, things got more expensive when the euro was introduced, but most of that was profiteering from businesses. the fact that the german economy is in a recession has little to do with the single currency, and much more to do with the unification of former east and west, and the common 1st world problem of a decreasing young population to pay for the healthcare and pension of the older population.
23-11-2004, 11:29 AM
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Theres pros and cons of joining!! Will chuck some Cons in here
One level fits all intrest rate could harm the UK! if if the british economy is over heating (which its geting close) The intrest rates need to rise to cool down. Simalier if the economy is failing the norm is to cut intrest rates kick start spend and viloa, though just cause out economy might be failing the Euro bank will look at the whole picture of the Euro economy and wont change it just for our needs. Also because over here we have a high Mortage rate slight changes in Intrest rate hurt out economy.
Also the British economy deal a lot more than the rest of the European countries with other forgein lands, having our own currency give s us the flexibility to trade with these other currencys
could go on a bit more but will leave it at that at the min as i just got up
One level fits all intrest rate could harm the UK! if if the british economy is over heating (which its geting close) The intrest rates need to rise to cool down. Simalier if the economy is failing the norm is to cut intrest rates kick start spend and viloa, though just cause out economy might be failing the Euro bank will look at the whole picture of the Euro economy and wont change it just for our needs. Also because over here we have a high Mortage rate slight changes in Intrest rate hurt out economy.
Also the British economy deal a lot more than the rest of the European countries with other forgein lands, having our own currency give s us the flexibility to trade with these other currencys
could go on a bit more but will leave it at that at the min as i just got up
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