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@ 17/01/09 – 12:02:12
Europe minister Caroline Flint listed five tests that have to be met for England to join the Europe. I think she forgot the most important one: desperation.
When England economy was strong, England saw no benefit in joining the Euro, although at the time it had much power to dictate the conditions. Now, being weak, it might have no choice and will have to take whatever conditions Europe is willing to offer.
And some still politicians still claim that they understand the meaning of foresight
technomist
PrincessFiona
I think UK should wait and not make any hasty decisions
it has made so many. One more, one less, who cares
PrincessFiona
Ooh dear! We seem to have similar confidence in our Government
Tryd2008
Like most people I know bugger all about it but seems to me that the UK might recover faster in the medium to long term. Tourism in the UK is going to benefit a lot from a weak pound.
I wonder if it will compensate for the fall in the banking sector. How much of the UK tax revenue comes from tourism?
technomist
When was the last time the tourist industry asked us all to bail them out?
Touché
Shipscook
According to Visit Britain in 2007 foreign tourists spent £16 billion in the UK supporting around two million jobs, I suspect with the rubbish exchange rate for the pound we will get lots more visitors from the US and Europe, plus a sizable increase in cross border shopping from the Irish republic into Northern Ireland
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Joining the Euro when the Euro is 'strong', would be a bad idea: the exchange rate and inetrest rates would be disadvantageous to the UK.
Actually, I don't think the Euro is going to stay that strong in the medium to long term. The currency to buy seems to me to be the Yuan.