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Why has the Eurozone been such a failure ? |
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#26 |
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Join Date: Nov 2002
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Quote:
Under EU rules at present, Sweden is obligated to join at some point. Denmark has an opt out and is not.
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#27 |
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Join Date: Mar 2003
Location: London, United Kingdom
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Quote:
That requirement has been in place since 1994, with no sign that any pressure will ever be placed on them to join.
http://www.telegraph.co.uk/finance/e...-the-euro.html |
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#28 |
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Join Date: Jun 2008
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I'm no economist, but I said the same thing before the Euro was introduced.
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#29 |
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Join Date: Mar 2003
Location: London, United Kingdom
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You don't need to be an economist, a rocket scientist or an "expert" in anything to be able to apply common sense. The only point of interest to me would be why it was ignored in the first place. It must have been a deliberate act of willful ignorance because it was as obvious as a 17 stone bluebottle bathing in a small bowl of tomato soup as far as I was concerned as well.
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#30 |
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Yes, really. The Swedes have already held a referendum on Eurozone membership and rejected it, making it virtually impossible to be imposed on them.That article is an opinion piece from a strong pro-Brexit campaigner. |
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#31 |
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Yes, really. The Swedes have already held a referendum on Eurozone membership and rejected it, making it virtually impossible to be imposed on them.
That article is an opinion piece from a strong pro-Breixt campaigner. |
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#32 |
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Join Date: Jun 2008
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It was ignored because nutcase fruitloop non entities in Brussels were so desperate to create their European dream.
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#33 |
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Join Date: Jul 2007
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The mighty pound would buy €1.42 of those rubbish euros back at its launch.
Today, a pound of the super soaraway currency buys €1.17. It must fill you all with pride. Still, at least it's good for exports. Anybody want a PYE television? A Rover 75? Coal? |
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#34 |
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Inactive Member
Join Date: Mar 2003
Location: London, United Kingdom
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Quote:
The mighty pound would buy €1.42 of those rubbish euros back at its launch.
Today, a pound of the super soaraway currency buys €1.17. It must fill you all with pride. Still, at least it's good for exports. Anybody want a PYE television? A Rover 75? Coal? |
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#35 |
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Join Date: Jul 2007
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It's a err free floating currency. You're probably not used to those being in favour of the communist ERM. Tell us his the mighty Euro is faring against the Dollar?
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#36 |
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Join Date: Mar 2003
Location: London, United Kingdom
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Good thinking - let's not dwell on the pathetic Pound. A Sterling idea!
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#37 |
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Join Date: Jul 2007
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You can't answer I see. Perhaps it's because you do understand that currencies go up and down. Including your beloved Euro which is down at the moment. Are you British? If you hate your currency so much, there are 19 other countries using the Euro you could move to? All facing up the the imminent collapse of their crazy goal of currency union.
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#38 |
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"A err", as you'd say yourself, I quoted the exchange rate now and then. It's self-evident that I know that currencies go up and down. That's why I referred to it! Am I going too fast for you? The Euro's up, Sterling's tanked. Throwing around, albeit, weirdly quaint words like Communist rather than reading and thinking carefully before posting does you no favours. Neither does the "if you don't like it, leave" stuff. At best, it comes across as ignorant, at worst it Has a whiff of. something more sinister.
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#39 |
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Join Date: Feb 2016
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2016 saw British sterling as the second worst performing currency globally.
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#40 |
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Join Date: Nov 2008
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Because it has had the UK in it, roll on another 2 years when the UK has gone ( in my dreams)
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#41 |
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Quote:
2016 saw British sterling as the second worst performing currency globally.
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#42 |
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Because it has had the UK in it, roll on another 2 years when the UK has gone ( in my dreams)
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#43 |
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Join Date: Dec 2005
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Is there no mechanism for countries who are suffering under the Euro which can allow them to leave ?
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#44 |
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Join Date: Dec 2005
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Is there no mechanism for countries who are suffering under the Euro which can allow them to leave ?
But the EU has metastasised from a simple trading community into a free-spending parasite. It's hampered growth, except perhaps with the ECB's debt buying spree.. Which we'll be entitled to maybe 200bn or so if the EU wants to buy us out of that. How the ECB fits in with Brexit and the EU's future is going to be fun.. |
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#45 |
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Quote:
Is there no mechanism for countries who are suffering under the Euro which can allow them to leave ?
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#46 |
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The implication from your question is that the Euro currency is the cause of all their problems, when almost certainly their difficulties lie elsewhere. Certainly a country being able to devalue its currency at a time of severe recession would be a big help, but that doesn't mean that the Euro is causing the recession. There are plenty of economists too who think that a country quitting the Euro and returning to the local currency could actually set off an even worse recession than the one they're already going through.
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#47 |
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Quote:
Initially it might be worse but in a year or two, they'll start to do well again. Greece should be at that stage now. It should've returned to the Drachma. Yet it stupidly chose to kick the can diwn the road and keep the Euro.
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#48 |
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No guarantee of that though. That outcome would be pretty much the best case scenario but any country quitting the Euro in the middle of a deep recession would run the risk of making things even worse and something that could end up being very prolonged.
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#49 |
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Not really. Pretty much every country that devalues has a rough ride initially and recovers.
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#50 |
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Quote:
I'm no economist, but I said the same thing before the Euro was introduced.
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