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| Topic: Britain will join the Euro | |
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I hope they will because the downside for the British economy of the euro going under is catastrophic. People have no idea of the scale of money British banks are owed by European banks.
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I hope they will because the downside for the British economy of the euro going under is catastrophic. People have no idea of the scale of money British banks are owed by European banks. Do you think the average person is willing to lose 15 or 20 percent of their savings to bail out the Euro? |
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I hope they will because the downside for the British economy of the euro going under is catastrophic. People have no idea of the scale of money British banks are owed by European banks. Do you think the average person is willing to lose 15 or 20 percent of their savings to bail out the Euro? The average person has no control over their savings. Unless they put the cash under the mattress. |
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I hope they will because the downside for the British economy of the euro going under is catastrophic. People have no idea of the scale of money British banks are owed by European banks. Do you think the average person is willing to lose 15 or 20 percent of their savings to bail out the Euro? The average person has no control over their savings. Unless they put the cash under the mattress. Ok.. what about a 15 to 20 percent pay cut? |
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Not sure what pay cut you are talking about
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Edited by
InvictusV
on
Tue 11/22/11 07:52 AM
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Not sure what pay cut you are talking about 1 pound equals 1 euro 16 the last time I looked. Getting paid in Euros and not pounds is a loss of 16% of your salary. A favorable exchange rate allows the UK to import products at a cheaper cost and moving to the Euro will raise costs on imports and raise prices in stores. |
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Not sure what pay cut you are talking about 1 pound equals 1 euro 16 the last time I looked. Getting paid in Euros and not pounds is a loss of 16% of your salary. A favorable exchange rate allows the UK to import products at a cheaper cost and moving to the Euro will raise costs on imports and raise prices in stores. Those that live in the Euro Zone get far higher wages than those in the UK....that is why Business is opposed to Monetary Union. |
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Not sure what pay cut you are talking about 1 pound equals 1 euro 16 the last time I looked. Getting paid in Euros and not pounds is a loss of 16% of your salary. A favorable exchange rate allows the UK to import products at a cheaper cost and moving to the Euro will raise costs on imports and raise prices in stores. Those that live in the Euro Zone get far higher wages than those in the UK....that is why Business is opposed to Monetary Union. Yeah.. But higher wages will be offset by higher costs. That could lead to a two fold increase on businesses and to further layoffs. The UK has a massive trade deficit. Moving to the Euro could open a little more to exports, but it is going to cost more to import. I can't really see why you get involved in the Euro when the entire zone is on the brink. Doing it to save the banks might be necessary in terms of financial stability in the short term, but in the long term the damage done to the economy could be far worse. Controlling your own currency allows for maneuvering that being tied to bloc with a single currency doesn't allow. Don't think the French or Germans are going to break their necks to do you any favors.. |
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Yeah.. But higher wages will be offset by higher costs. That could lead to a two fold increase on businesses and to further layoffs. The UK has a massive trade deficit. Moving to the Euro could open a little more to exports, but it is going to cost more to import. I can't really see why you get involved in the Euro when the entire zone is on the brink. Doing it to save the banks might be necessary in terms of financial stability in the short term, but in the long term the damage done to the economy could be far worse. Controlling your own currency allows for maneuvering that being tied to bloc with a single currency doesn't allow. Don't think the French or Germans are going to break their necks to do you any favors.. I am not an economist but Germany pay their workers high wages and they are the powerhouse of Europe. We are moving towards a basket of Currencies right now and eventually toward a global currency. The days of THE Nation state are over. As a lady has repeated on another thread The Company is is charge and have been for decades..remember it was said that Europe wouldn't work ....well now it is too big to fail. While we are on the subject.....is the NAU a figment of my imagination? |
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the world is moving to a global exchange...
this is true. Why in the world would the world want to put on such a ripped garment as is the Euro? No matter how many governments jump in with 'firehoses' the fire will continue to burn. They are pumping 'fuel' on a burning fire. What idiots. |
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the world is moving to a global exchange... this is true. Why in the world would the world want to put on such a ripped garment as is the Euro? No matter how many governments jump in with 'firehoses' the fire will continue to burn. They are pumping 'fuel' on a burning fire. What idiots. What you expect? 
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