EU – In or Out

Sorry but the Euro only continues to thrive because it is being propped up by the banks. Left to its own devices it would have failed within about 5 years.

And those countries who are against the USA.

In, without doubt.

Ah…”…in as much as markets allow.”
How’s that working out for the sovereign GBP at the moment?

Up 5% against the Euro. That’s what markets do.

Not really because in the case of sovereign nations with their sovereign banks they are in control in as much as markets allow. As far as the Euro is concerned, as we are now seeing all too clearly, the sovereign members of the EMU have NO control of their fiscal policies.

Ah…”…in as much as markets allow.”
How’s that working out for the sovereign GBP at the moment?

I’m glad someone saw what I was aimng at. Thank you for putting what I meant to say into a form that makes sense. I guess my statement was too short to be easily understood but I thought everyone would understand the point you’ve just made.

Hopefully you are fully aware that the above statement stands for any currency. So in itself re the Euro it is pretty meaningless.

Not really because in the case of sovereign nations with their sovereign banks they are in control in as much as markets allow. As far as the Euro is concerned, as we are now seeing all too clearly, the sovereign members of the EMU have NO control of their fiscal policies.

Sorry but the Euro only continues to thrive because it is being propped up by the banks. Left to its own devices it would have failed within about 5 years.

Hopefully you are fully aware that the above statement stands for any currency. So in itself re the Euro it is pretty meaningless.

Sorry but the Euro only continues to thrive because it is being propped up by the banks. Left to its own devices it would have failed within about 5 years.

Try convincing Drabslab of that – he is in seventh heaven over there in Belguim.;)

Given that the Euro is challenging the dollar as the dominant world currency, I would say that it has been a fantastic success.

Think of how much easier it makes business decisions, and the stability it provides for trade within the EU.

Sorry but the Euro only continues to thrive because it is being propped up by the banks. Left to its own devices it would have failed within about 5 years.

Doomesday scenario you say? Are you sure that you are not living it?

I guess that the strength of a currency is generally reflecting the strength of the economy behind it.

The british pound (and the dollar) are steadily going down compared to the euro and this for 8 years in a row.

Clearly, the playing field is NOT level. The EU countries, and euro countries in particular, are taking the lead. The euro zone is of course also feeling the negative effects of financial crisis, or world economy in general. However, it appears clearly that the eurozone has been able to reply better to economical troubles than other nations, which is reflected in the currency exchange rate.

If this is what you describe as being “a mess” then I hope that this mess continues as long as possible.

I think you have rather a lot to learn about the complexity of exchange rates and their levels vis a vis other trading currencies. You also appear not have read the recent statements from your own ECB.

I think you misread my doomesday scenario comment, or misunderstood it. It referred to those who take that view should we leave the EU. If you are suggesting that we are living it now, it sounds as good a reason as any other to leave.

Most definitely OUT!.

Snafu – sorry I did not answer your other question because I wasn’t sure how to. It is just that I don’t see the problem. We leave, we continue to trade – buying and selling as before, but now free to legislate in a way that suits us, free from the legal shackles of the EU, £ 6.5 billion p.a. better off – £65 billion plus over a decade. Not a fortune in the vast scheme of our debt, I agree, but better than nothing.

I just don’t buy into the doomesday scenario some would write “if we should leave”.

And as for the Euro, of course it works when the playing field is level and all is sunshine and roses but look what happens when rweal life intervenes and it tries to rationalise a raft of contradictory fiscal regimes. It’s a mess and will get worse long before it gets better.

Doomesday scenario you say? Are you sure that you are not living it?

I guess that the strength of a currency is generally reflecting the strength of the economy behind it.

The british pound (and the dollar) are steadily going down compared to the euro and this for 8 years in a row.

Clearly, the playing field is NOT level. The EU countries, and euro countries in particular, are taking the lead. The euro zone is of course also feeling the negative effects of financial crisis, or world economy in general. However, it appears clearly that the eurozone has been able to reply better to economical troubles than other nations, which is reflected in the currency exchange rate.

If this is what you describe as being “a mess” then I hope that this mess continues as long as possible.

Snafu – sorry I did not answer your other question because I wasn’t sure how to. It is just that I don’t see the problem. We leave, we continue to trade – buying and selling as before, but now free to legislate in a way that suits us, free from the legal shackles of the EU, £ 6.5 billion p.a. better off – £65 billion plus over a decade. Not a fortune in the vast scheme of our debt, I agree, but better than nothing.

I just don’t buy into the doomesday scenario some would write “if we should leave”.

And as for the Euro, of course it works when the playing field is level and all is sunshine and roses but look what happens when rweal life intervenes and it tries to rationalise a raft of contradictory fiscal regimes. It’s a mess and will get worse long before it gets better.

Given that the Euro is challenging the dollar as the dominant world currency, I would say that it has been a fantastic success.

Think of how much easier it makes business decisions, and the stability it provides for trade within the EU.

And it doesn’t work.:D

Umm.. oh yes it does. 😀

Thanks for the response to my earlier question; having read it i think you are reading rather too much into a “thought” paper as it fits with your desire to withdraw the UK from the EU.
Actually thinking about and considering all possible scenarios is, i think, a sign of a healthy mind / organisation.

Still interested in your thoughts as to how the UK is going to operate outside of the EU.

as said before in this topic, i know fairly well how the EU works, first hand, i don’t need to look at crapy newspapers to know what is going on.

And again, its not perfectly green but is going in the right direction

Well it’s certainly a relief to know that you know more about it than the European Central Bank and its President, Mr Trichet. Perhaps you should have word with him.:D

Not many people wanted it LOL 😀

And it doesn’t work.:D

What is falsely conceived about a common currency?

Not many people wanted it LOL 😀

Drabslab – I am sorry but I think that your acceptance of the way the EU works is naive to say the least. In fact I would go so far as to say that it works in precisely the opposite way. There is a gulf of difference between theory and reality where the EU is concerned.

Many discussions with UK MEPs has done nothing but convince me that it is an undemocratic, and unaccountable institution.

as said before in this topic, i know fairly well how the EU works, first hand, i don’t need to look at crapy newspapers to know what is going on.

And again, its not perfectly green but is going in the right direction

What is falsely conceived about a common currency?