UK referendum on Euro

[Silvertip]

As the interest rates are converging between sterling and the Euro, can we expect the media outlets within the UK to begin preparing us for a referendum on whether or not to join the Euro ? Also, what do you think the outcome will be ? Do you feel that there is such insatiable demand on behalf of the electorate to see sterling liquidated ? Will you miss those GBP/USD early morning shifters once they are gone forever ?

 

[jacinto]

that is one thing i doubt will happen. cable traders will be fierce opponents to such a move :cheesy:

 

[Legion]

Hmm, well I guess it would be a step forward further to unite people of differing nationalities , and as such I'd say howdy euro brother.

Now if the leader of the UK who is placed with leading the UK doesnt or cant make the decision by his or herself, or considers it to be important to warrant a vote from the people then I expect a simple list to be present outlining benefits For AND Against taking the euro as the uk's coinage.



If the PM at the time just pumps a one sided view of lets do it, in our nations interest etc, then ,I'd say that PM needs to be removed from his post, I expect, and maybe its a bit too much to expect, the common people to be presented with detailed views from both sides of the coin. To enable the voters to make an informed choice, and judgement.

This paper should of course be presented by an independent peoples guardian to ensure the fairness of content. LOL..........

If the PM however has NADS of Steel, and says, lookie here, we now have the euro, then fair enough. I would respect that and toast to the Euro and The Uks future.

God Save The..... ?

Im not sure though, deep down the UK trusts many of the euro nations populations general psyche towards life the universe and everything in it and as such feel that even if we join the euro, we will regret doing so because of EU upset, likely comming from the French, and Germans and Uk citizens not being able to clutch the Pound and feel home a bit more will grow hatred , well maybe thats a tad strong but , likely to promote miserable intent with and against our fellow Euro nation states to the point that a decade or so down the line politicians ,with continued and unrelenting, or relentless assault from the media and public, re taking the euro as this great nations coin in replacement of the Great British Pound, ( and it is still the "GBP " ) will be unable to stop the cry of Why oh Why Oh Why...

And the further dilutions of this countries Greatness will continue, is that a bad thing? Yes.



Silvertip, why not add a poll to this thread and see what the members here think at this stage?

Thinking on, lets not **** about, why not put it to the people to vote on a world currency ? isnt that whats on the agenda?

 

[Silvertip]

Ive added the poll at Legions request.

I feel it important to point out that this poll will in no way reflect the complete national feeling towards joining the Euro, and there is likely to be bias towards a yes vote due to the nature of this forum being a meeting point for traders, some of whom make money from trading cable

 

[Jack o'Clubs]

It'd be a terrible idea. The problem is that if it came down to a fight, the tabloid element of the 'no' campaign would just trot out the usual tired jingoistic stuff about 'saving the pound', presumably thinking their readership was too thick to understand the economic arguments about how ex. rates act as pressure valves for countries with different growth rates or economic policies. And that by definition moving into the Euro would require handing even more sovereign power over to Brussels. Which I wouldn't mind per se if the EC didn't have such a reputation for unaccountability, corruption and incompetence.

My question would be: how long before one of the Euro members blows up because their economy can't keep in tune with the song sung by Germany and France? My money would be on a crisis in Italy (or maybe Portugal), forcing them out of the Euro within the next five years.

 

[Legion]

Cheers Silvertip, I voted yes, becauseI think it best that the GBP should remain as a "comfort food" to and for the citizens of the UNITED KINGDOM.

Europe I feel has no feel for the United bit of cohabitation yet with fellow brothers and sisters. They may well feel better for uniting with currency but thats secondary I expect to them ,over seeing the importance of uniting or improving bonds with their fellow man, hence they may feel all touchy feely with a single coin but not deep within.

If The United Kingdom was the United states of europe, and lets face it, it is ,then the euro should fit in here, but not out there, not yet. We could even argue that for the UK to take on the Euro then we should start campaigning for the whole of Europe and its euronations to in fact be renamed "The United Kingdom"

We would be perhaps happier with this setup and they would be ready to embrace Uniting with their fellow man (because as their new name suggests, they are indeed united) no matter what the currency is called, then the single currency acceptance for europe and the UK should blossom and with it that great enlarged New Kingdoms quota of sentiently inhabitants should explode and thats the correct sort of detination that mankind & this planet needs for us to progress perhaps.

 

[Trdr]

I was going to say I don't think a poll is useful until . . .

first understanding what are the pros, cons, consequences, benefits or not of retaining the Pound v adopting the Euro
however it's only recently that I've thought about this topic

HM Treasury: UK Membership of the single currency, An assessment of the five economic tests
http://www.hm-treasury.gov.uk./docu.../assessment/report/euro_assess03_repintro.cfm

" Prof. Schwartz’s new book The Euro as Politics is an emphatic call for an EU of institutional and monetary competition and against the current tendency of harmonisation. The abandonment of the British pound by fiat would essentially reduce monetary and institutional competition in Europe and in doing so would detrimentally affect not only the UK, but also the EU as a whole. This reasoning stems from the fact that the euro, in the words of Prof. Schwartz, is not a device for the smooth functioning of the economy – at the end of the day it is a political project. Hence whether the UK should adopt the euro boils down to the question of whether an EU-wide currency monopoly is advantageous for both the UK and the residual EU."
full review of 'The Euro as Politics' : http://www.ceps.be/Article.php?article_id=368

"One World, One Currency: Destination or Delusion ? " Economic Forum
transcript: http://www.imf.org/external/np/tr/2000/tr001108.htm

http://en.wikipedia.org/wiki/World_currency

 

[de123]

and that will be me,...slovenia is adopting the euro in 2007,...Hurey I say...

I know that u feel a litle sceptical towards other economies,...but hey if we dont unite, the usa will still dominate the world, and i dont think that should be good for the world as a peacefull place,...YES u heard right,...i do hate wars no matters who starts it,...

But u got a point that ur money might be in danger,...I am a little sceptial toward Spanish inflation,...why should i pay more for interst rates if i take a credit, ...if my country has only 2.4 %inflation, and they will have 3.0,...but did check for others countries,..and they are very Low,...Austria 1.3, Italy 2.0, Germany 2.4,...etc.., The euro is becoming the most valuable currency and that can be in some way disadvantage,...especially on Growth....but hey we are from balkans,...our stocks cant be traded with CFDs...etc...so it wont have that special effect....

But do understand, those cable traders,...they will fight till the end,...i suppouse,...

 

[Silvertip]

I decided to remove my rant, as whats the point !? The Euro is coming whether we want it now or 10 years time, so get trading cable whilst you got the chance !

 

[jacinto]

hey, i will tell all the cable traders on the cable thread to come and vote. we oppose this 100% and block it

what are we supposed to do for a living? trade eurodollar? will fall asleep before a profit comes in :cheesy:

 

[Silvertip]

And on an altogether lighter note, here is a volatility chart of the EuroDollar in the year 2012

 

[de123]

HAHAHA,...i read the removed tread,...i will still reply you,...even if there is no tread to reply ...

Well we got full of workers from ex balkan countries,...like albania,...and they full controll of the fruit and vegetable bussines in our ountry,...and i really like their fruit more then our medical products,...it keeps me healthy ...cable traders will have to move to oil or some other comodities in order to not to get sleepy, if the cable will be diminished,...i believ that pound will get in euro before DK, N, S and CH.....but it may never get in....it depends how your opinion will change throu some folowing years....and it may do,...especially if some terorist activity will burn some long cable trenders...