*DEBATE* Is the UK ready for the Euro?

[-x-Kerrianne-x-]

Is the UK ready for the Euro?

On June 9, 2003, the UK Finance Minister delivered to the House of Commons his assessment of the five economic tests. He announced that Britain is not yet ready to join the Euro... Hence, UK policy on the Euro remains unchanged.

What is the Euro?

On January 1, 1999, a single European currency (the euro) was introduced in 11 European Union countries: Austria, Belgium, Finland, France, Germany, Ireland, Italy, Luxembourg, Netherlands, Portugal and Spain. Greece joined the single currency on January 1, 2001. Britain, Denmark and Sweden are the EU nations that have not adopted the Euro.


Why haven't we adopted the Euro?
The UK (United Kingdom) Finance Minister stated in 1997 that Britain will under-go five economic tests, they will undermine if a clear test can be made. The five following tests are:

Sustainable convergence (http://dictionary.reference.com/search?q=convergence) between Britain and the economies of a single currency;
Whether there is sufficient flexibility to cope with economic change;
The effect on investment;
The impact on Britain's financial services industry;
Whether it is good for employment.
Source: British foreign policy


Many individuals do not wish to participate in having the Euro. Read the following quotation and see why:
If you think the speculators can't get at the countries within EMU, think again. It won't be long before our derivatives geniuses dream up a new synthetic currency. Where there is motive, there will always be opportunity.


Do you think the UK has passed all of the 5 possible tests? Have we still got a long way to go? Should we even have the Euro? Explain your answer below!

Rules
Please do not post pointless comments such as 'I agree' or 'I don't agree'. You must explain your points and try to back them up with evidence. All other forum and debate rules apply.

[Seatherny]

I dont see why we need the Euro? Pound is perfectly fine! Changing to euro is most likely going to cause a lot of confusion etc!

[le harry]

As im australian, I dont really understand, but I have no idea why they should have these changes, it'll just cause confusion.

[xxMATTGxx]

No i think the UK should stay with the Pounds. I like having UK money. The Uk should always stay with Pounds because its like our own.

[NekkLe]

For those who arn't familliar with the Euro. Its a shared currency between the EU economy, where if all EU states were to share it, they'd benefit from it.

I myself am against joining this currency, I don't see why we should, its an additive along with joining the EU, something to help strengthen the economy. It does sound convincing in that aspect but who's to say that it will fail in future?
There are many questions about how the Euro may affect UK residents, in that sense future mortage rates, inlfation, exchange rates, savings accounts, cars, trade and many more. Three quarters of the population of the UK are against the Euro, until that measure decreases, government will take action by announcing a referendum (a national vote) whether to support or reject the Euro. With the reasurance of the majority population of the UK against the Euro, i'm comfortable, however, the last quarter of the population i'm unsure about.

[GommeInc]

The pound is worth more than the Euro, plus most of the countries in the EU using the Euro regret using it. France want the Franc back and a northern country wants their currency back. Those two are the ones that I have heard of lately that hate the Euro. Plus, most of the shops in some countries are rediculously expensive since the Euro hit them, but that is not the case.

Nekkle, you have to remember that somewherein that quarter are people who are unsure or don't care.

[Mentor]

Im not for globalised curranceys wich the eruo is part of, it dosnt give a contary enogh flexiblty with its currancy to compensate for inflation and other aria persific problems, to wich some erupoean contarys have found to there peril.
The abilty to control a contarys currency is important to be able to maintain stable groth of a contary echonicaly, And haveing this control allows it to be set in the best way to benifit THIS contarys echonemy.
The EURO is not BEST fited to any contarys more a comprimse before many, so that each indevidal contarys echonemy is danmaged, athogh this is usealy balenced by the large amount of new investament that comes from becomeing a member of the EU, athogh without the eruo becomeing a member would probaly be even more profiable to a contarys echonemy.

The Pound is a tryed and tested currency, and is well established and stable, the euro is not, and could still be seen to have a massive failure wich could collaps the echonemys running under it, if not controled correctly, hard to do with trying to mediate between the needs of a large number of contarys with only one rate at the end point.

Take exsample from whats happened to the echomeneys of many other contarys now under the eruo, like germany for exsample who before had an incrediably good set up for its workers, can no longer support that, (protesets from it were in the news a while back, i dont know how the dispute was evenatly resolved if it has been)

So no, i do not think britain should use the euro, the only benifit i can see would simply be conveniace, aka not haveing to change currency when visiting EU contarys. Other than that the rest is downsides such as instablty, loss of echonic and currency control, remoaval of abilty for echomeny to run under best condistiopns becuse you would be useing a currancey that comes from a comperimse from many, aka everyone is loosing out a bit.

[NekkLe]

Nekkle, you have to remember that somewherein that quarter are people who are unsure or don't care.
Yeh, I can see that point and there probably kids and youths. With the whole country having an understanding of what might occur if the UK adopted the Euro, I think 98% of the residents within the UK will disagree to adopt it.
Currently, the pound sterling is a solid currency and changing to a currency that isn't supported enough to know the full facts about what might happen to it in the future. The EU would like to promise that the Euro (if supported by all states within it) will become the top currancy. However, I can't see it being to sterdy to last a long time, UK shouldn't resolve in loosing the pound to a curancy that has no garuntee.

[Tommy]

No keep the pound man! I cba spending ages working it all out, its bad enough when i go on holiday! Wait till i die then change it =]

[bobbles]

DO NOT GET THE EURO IT *****S UP PRICES AND MAKES YOUR CURRENCY VERY WEAK you have been warned :(
all I know is every Irish person that I know regrets us getting the euro and we never wanted it in the first place

[Tommy]

DO NOT GET THE EURO IT *****S UP PRICES AND MAKES YOUR CURRENCY VERY WEAK you have been warned :(
all I know is every Irish person that I know regrets us getting the euro and we never wanted it in the first place
I thought youre name said b00bies =OOOOOOOo
IM NAUGHTY! LMAOOOOO

Concentric - Super Mod
Please do not post in a debate unless you wish to make an arguement regarding the debate topic.

[Luayminator]

britain is not more special than any other country so yes it should

[Bimbybecca]

I wanna stick with the good ol' British pound. It makes us individual and traditional, I think we should keep the royals on our coins!

[Sly]

Hasnt some parts of the UK already using them?

I think that we will be using Euros very soon but i find it all Confusing, its like sending me to America and asking how much for that Shoe. It would be good fun seeing new money and prices Might change.

But if we were to go with the Euro everybody would have to learn what a coin stands for. Also they would need to redo all computers because they would need to take off the £ Sign and put in a Euro sign.

And if we do get the Euro, try to save ALL your Pounds. they will be world tones when your really old :)

[Mentor]

Hasnt some parts of the UK already using them?

I think that we will be using Euros very soon but i find it all Confusing, its like sending me to America and asking how much for that Shoe. It would be good fun seeing new money and prices Might change.

But if we were to go with the Euro everybody would have to learn what a coin stands for. Also they would need to redo all computers because they would need to take off the £ Sign and put in a Euro sign.

And if we do get the Euro, try to save ALL your Pounds. they will be world tones when your really old :)
Urm.
No problems with price rates as you would get so many eruos for your pounds, all prices would be in euros, eruos to euros? where the confusion?

Coins are currancy i dont realy see them as standing for anything and the Euro sign is already included on any new keyboards "/

Eruos would change notes as well as coins "/ Plus chance are it will be a few genirations before they become valueable.

Athogh i still oppose the euro due to the echonicmic problems that come with it such as haveing to comprimse in arias we could otherwize optimise the currancy for "/

[Concentric]

britain is not more special than any other country so yes it should
Who said Britain was 'more special'? Wanting to keep a peice of national identity and control over our own economy is not boasting, it's common sense.

[Mentor]

Who said Britain was 'more special'? Wanting to keep a peice of national identity and control over our own economy is not boasting, it's common sense.
Personly i dont belive in a sence of natonal identy, britishness is a passport IMO no more, where becomeing a global echonemy natonal identy will become a thing of the past, and so it should less for people to war over.

Econicly i agree thogh, being able to control our own currancy means we can optemise it for the market a contary is compeating in, rather than being forced to comprise with other contarys which need the rates set for a complty diffent set of goals, and by the euro both loose out rather than both being able to optermise it.

[Php]

i hate euro, i prefer pounds much better, dollars wudnt be bad :p, but euro i dont like..

[deltateamaplha]

First of I can never see what the big fuss is? Ok sure people like the British Currency yeah? But at the same time we are part or EU so why don't we go to the euro? why you ask?people are scared of change. I like the euro I have been to france twice last year and found the money easy to count e.c.t. It's not exactly like it will be so that big of a change.

There is one bad point I could come to and this would be having to learning the currency using maths. That would be so bad :P.

Overall I think let's change to euro it's time for change!!!!.

[Pulchritudinous]

Why change to the euro when we already have a stable currency?
Changing to the euro may seem like a simple concept, but it certainly isn't.
It will cost billions just to change the currency, and then comes the cost of changing or replacing every single public machine that accepts currency.

There is the high risk of economic shock, the entire population will want be enchanging their currency, imagine the frustration it will cause.

Not only that there will also always be the potential risk that a member country could collapse financially and adversely affect the entire system.

I just don't think it is worth the risk, even though it has it's advantages, like increased trade across borders, it could boost tourism between Europe, and UK business can expand more easily into neighboring countries, however, the UK is a wealthy, independant country.

If the Euro was introduced to the UK, it would cost an awful lot of money, so even if the euro was succesful, it would take years to replace the money spent on replacing the pound and public machines.

Therefore, I don't think the UK is ready for the Euro.

[Col]

I personally think that every country in the world should have the Euro, simply because when people go on holiday they won't have to start exchanging money and they will be able to know if they are being taken on by shop-keppers.

This would be the next best thing.

[Catchetat]

i dont think so yet. brazil is gonna pwn :P

[Blader_Boy]

The UK will never have the euro. Personally I think we never should I hate the idea, I am proud of our currency.

[Future]

I think if the UK chose to have the euro it would be pretty good but on the other hand im used to having the pound it would be pretty weird just to change a currency just so the rest of europe would be happy why dont they change to the british pound :)

[issaa.]

I think if the UK chose to have the euro it would be pretty good but on the other hand im used to having the pound it would be pretty weird just to change a currency just so the rest of europe would be happy why dont they change to the british pound :)

Its called the british pound for a reason lols, I think that the world should all share a currency but this would bring many problems and would never happen.

I think the UK should stick with there own curency because it shows we a original and we don't just follow the crowd.

[Mario]

i believe the uk is NOT ready for the euro. until they teach kids about it (as they do with the british pound) they can't possibly be ready (in my view)

[Tintinabulation]

You say all of this, but picture the 5 year-olds learning about money at school. They are going to have to re-do all of their studies. On top of that I think that shops would take advantage of people not fully knowing the worth of the euro by increasing their prices.

[Yonder]

Well i dont think we will every change to the euro because sterling is a strong an stable currency however i would like to see it change cos no changing money wen u go away :P but bless all them oldies who are gonna get confused :( lol :P

[Webhamster]

The Pound, so very british - The pride of britain


...thats all I have to say on this matter

[Mentor]

I personally think that every country in the world should have the Euro, simply because when people go on holiday they won't have to start exchanging money and they will be able to know if they are being taken on by shop-keppers.

This would be the next best thing.
yes, a few pennys aborad will easly make up for the 100s of billions of pounds it would cost to switch for each contary, then the collaps of more aless every contary echonemy due to the values haveing to be constant for both the very rich and very poor contarys, so both would loose out, then The fact the euro isnt even a stable currecny yet. Its all problems, little advantage.
Plus why in the world would contarys not in the eurpoean union use a curreny called the Euro ... "/


You say all of this, but picture the 5 year-olds learning about money at school. They are going to have to re-do all of their studies. On top of that I think that shops would take advantage of people not fully knowing the worth of the euro by increasing their prices.
thats not realy a problem thogh? im agaist the euro but that points stupid "/ the only differenced is youd call a pound euro ect. a name change dosnt require the relearning of a subject, if they rename a contary you dont need to learn the langwage again do you "/

[FullyInsane]

I personally think that every country in the world should have the Euro, simply because when people go on holiday they won't have to start exchanging money and they will be able to know if they are being taken on by shop-keppers.

This would be the next best thing.

Urmm.. the word EURO , means europe ONLY.. plus i still disagree , the euro could surely pull down our good markets and ecomomy , This is a true fact many countries are joining , with close to 3rd world population
or such rubbish economies as Turkey ?

The euro , will take away our nations character , history and nationality . Killing some patriotism losing our currency .

Plus most of the population would vote NO , That's why Blair hasn't prepared a refurrendum such as he spoke of , he was fond of the Euro but now he's not as more light has been shined on the currencie's factors .

there was a refurrendum in the parlement i believe , a vote of No by about 2% winning , if i belive right it was a few years ago..

[Krentox]

Euros are amazing alot easier to count up lolz and easier to carry around in your walletz so bring on the euro kkthx.


The world is a small place then you think!

[Jõnathan]

Let's think about this.
Switzerland keeps its franc.
Norway and Sweden keep their krone or w/e it is.
But all the other countries in teh EU (except us) change to Euros.
If there was a universal currency, there would be no exchange rates or stuff like that.
But it would be good cos you wouldn't have to change your money every time you go abroad.
Personally, I say- think what you want, it doesn't really matter.
Both of our systems are decimalized, so who cares!

[Krusty]

If we change to euro's
Everyone will convert the money back to pounds to see how much it really is..
Well not evryone but i certainly would

[Mentor]

Let's think about this.
Switzerland keeps its franc.
Norway and Sweden keep their krone or w/e it is.
But all the other countries in teh EU (except us) change to Euros.
If there was a universal currency, there would be no exchange rates or stuff like that.
But it would be good cos you wouldn't have to change your money every time you go abroad.
Personally, I say- think what you want, it doesn't really matter.
Both of our systems are decimalized, so who cares!
Well the imesurable damage to are econimy, and the billions it would cost to make the swich kinda bother me. Bother me more than haveing to exange money every so often at least, i kinda prefer briatn without its entire echomeny collapsed "/
We have our currecny optemised for britans groth and allowing us to compeate in the internatal market. We switch to the eruo we have a comprimse between alot of contarys with diffent goal,s meaning it sucks for EVERYONE who uses it. Id rather keep the optemised currecny rather than the crap comprimse.

[Lozzoling]

the sterling pound is strong against the euro and dollar, why would we change?

[Xegena]

The Sterling (pound) Is richer than the euro. Meaning our economy could go downhill. There is no need for Britain to have the Euro, so why should we have it? I a againstthe Euro for many reasons. Many being the patrism of the Pound.

I would Love to see a opion of someone for the euro.

[Mentor]

I would Love to see a opion of someone for the euro.
there are a few in here, but not by anyone that actaly looks to have considred even conidered the matter in any remoate detail, And go complty oin the basis they dont have to change money when going else where in erupoe, ignoring the billions it would cost for the change, along with the the damage itwould do to the econemy "/

[Jõnathan]

Well the imesurable damage to are econimy, and the billions it would cost to make the swich kinda bother me. Bother me more than haveing to exange money every so often at least, i kinda prefer briatn without its entire echomeny collapsed "/
We have our currecny optemised for britans groth and allowing us to compeate in the internatal market. We switch to the eruo we have a comprimse between alot of contarys with diffent goal,s meaning it sucks for EVERYONE who uses it. Id rather keep the optemised currecny rather than the crap comprimse.

What?
Well yeah, it would suck, cos the pound is higher in value than the euro, so we would lose loads of money if we changed.
And use spellcheck next time (no offence)

[Mentor]

What?
Well yeah, it would suck, cos the pound is higher in value than the euro, so we would lose loads of money if we changed.
And use spellcheck next time (no offence)
1. No we woulnt, We would echcange the money. £1 = 1.60 Eruos, we would get 1.60 eruos for every pound, diffent amounts, same worth. no change

2. Im disleixix "/

[alexxxxx]

I want the Euro, but its not as good as the Pound, our economy has gone UP! Why do you think that everything in the USA seems so cheap?