How much has Euro changed your life?

Discussion in 'Every Day Debating' started by Foinikas, Nov 1, 2007.

  1. Count Driloz

    Count Driloz Illyrian Witchking

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    All this is caused due to the fight which currency should become as a reserve currency for all over the world. (I mean whether it will be Dollar or Euro).
    Europian central bank cares only that Euro will keep its own value other matters are left aside.
     
  2. Overread

    Overread Wolfing it up! Staff Member

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    hehe - the EU has given up with the UK - we not only get to keep our pounds and pence, but also all our impirial measurements - that means a pint of beer down the old pub!
     
  3. Foinikas

    Foinikas Playing backgammon!

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    For one thing I don't want Cyprus to get Euro and forget the Cypriot pound!Cypriot pounds are very very beautiful!Plus they are the only banknotes left that have Greek stuff on them and whatever is written on them is written both in Greek and Turkish.And if the UK keeps the pound I believe Cyprus should keep it too!:D

    Is it true that in the UK you have to pay 1 pound or more for a loaf of bread?
     
  4. Overread

    Overread Wolfing it up! Staff Member

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    *thinks*
    I don't think so, but I am in London ATM so all the prices are boosted anyway, but I am fairly sure you don't
     
  5. Ravus

    Ravus New Member

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    heh. i'm willing to give up the pound, oddly, not not MP/h to measure speed. i just cant seem to think in kilometers per hour >_>

    for the better brands of break you're going to pay something like 50-70p... but you can buy cheaper bread for a lot less. (in scotland anyway)

    now petrol (over £1 a litre) and internet, THATS where we get shafted. well. theres others but its those two that annoy me.
     
  6. Overread

    Overread Wolfing it up! Staff Member

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    however our high petrol prices are not linked to our currancy, but our tax system
     
  7. Rychos

    Rychos What's Up, Doc?

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    Easier than Mp/h if you ask me. Use of inches and feet doesn't really make sense to me either. *grin*
     
  8. Ravus

    Ravus New Member

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    but you're a daft mainlander anyway :p

    and our internet is bad because no one wants to pay for the fiberoptics -.-

    you know its cheaper to important somethings from the US atm? including postage! long live the weak $! :s

    though postage costs from CANADA on the other hand are insane.

    ...

    yeah thats offtopic. oh well ;p EURO! and.. .such. yeah.
     
  9. Turambar

    Turambar Harebrained Staff Member

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    lol - anyone want to revisit this one under under the more recent developments? :p

    Soo... there are a few countries which may be looking at bankrupcy within the Euro zone - most accutely Greece; but predominantly Italy, Spain, Portugal and Ireland. Not that any of the other important currencies have been doing well - but this is a real threat to those of us doing groceries in Euros every day.

    Do we still think the Euro's such a good idea? :)
     
  10. Cascador

    Cascador Who's Anakin?

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    Oh I wish I lived in the UK now, the Pound is much closer to the Euro now, but the prices are the same, so everything is cheaper there.
     
  11. Turambar

    Turambar Harebrained Staff Member

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    Oy, welcome back Ani! :D

    Well, the UK has its own set of economic difficulties right now and, on the whole, I think they particularly would have been better off with the Euro right now. But what can you say: stubborn...

    Belgium has also been named in some lists of potential threats, though. Must be something with that co-federal equality scheme - and the fact their gouvernment is vacant more often then not :p

    Say... can't we do a split-up of the Euro? The Mediterranean area, along with Belgium, latvia and Ireland in one pool - and the other bit (Scandinavia, Germany, The Netherlands etc) in the other? Euro-A and Euro-B? Everyone happy ^_^
     
  12. Cascador

    Cascador Who's Anakin?

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    Thank for welcome back, I'm sure it was really heartfelt...
    As for Belgium, yeah it's a pretty big mess here. The government is not really at its peak right now..
     
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  13. Foinikas

    Foinikas Playing backgammon!

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    I found this in a site randomly a few weeks ago:
     

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  14. Mububban

    Mububban Administrator Staff Member

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    Foin, I don't know what positive contribution that picture can make to a discussion of the Euro. This is your own thread. You started this thread yourself. Don't derail it.
     
  15. Foinikas

    Foinikas Playing backgammon!

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    I was trying to find a chance to post this picture.I thought it would be considered funny by the Belgians because of something I read in the site where I got it.I didn't post it to offend anyone,it's supposed to be a funny picture about how Belgians would like to see their country bigger in the European map or something...

    Anyway,the point is Euro has smashed us.And you know what?The money still stays in the hands of the rich and the poor are still starving and trying to get some money but the prices are all up and rounded and the salaries remain the same.

    It is funny how the new government here is supposed to be a socialist one yet the only thing they try to do is impose more and more taxes to solve some of the country's economic problems.

    And from an artistic point of view...Euro sucks man.The most beautiful of them is the 20 Euro banknote,the blue one but other than that...Euro sucks.It's just...not "personal".I would love to go back to Drachmas and actually I would love to see all the other countries use their old currencies.The power Deutsche Mark,the Franc,the Lirette,the Pesetas,the whatever else other people in the European Union used before they got Euro.
     
  16. ~Elladan~

    ~Elladan~ A Elbereth Gilthoniel

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    That's a pretty flawed point of view Tur, the very fact that we are OUT of the Euro gives us more flexibility, both monetary & fiscal policy, to handle the fallout.

    Although national debt has shot up because of the bailout of our over-sized financial sector we are in a better position that many because our government bonds (gilts) rollover far less frequently than most nations. We also will not have to help in the bailout of the weaker PIGS economies within the Euro zone*.

    That's not to say that we're not in for a painful combination of contraction of public services and tax rate increases. It's not actually that long ago that we had it before (late 70s) when Margaret Thatcher took over as PM after the Labour party had left the UK broke and had gone cap-in-hand to the IMF.

    As to Greece's problems and the strikes, they're going to have to bite the bullet like the Irish have.


    * Amended: It appears non-Euro zone, EU members could be asked to bail out Euro currency members, although it's arguable whether the events could be defined as 'exceptional occurrences beyond its control' under Article 122. I suspect the unrest that this would cause in the UK if it did come to pass would tilt us so far euro-sceptic that there would be renewed calls for our withdrawal totally from the EC. http://www.thisismoney.co.uk/news/article.html?in_article_id=497171&in_page_id=2

    .
     
    Last edited: Feb 10, 2010
  17. Turambar

    Turambar Harebrained Staff Member

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    Well, the thing is that the Euro spreads risk and forms a stronger international block of currency, compared to the Pound. As such, the Pound has lost a lot of terrain in relation to the Euro. Besides, the impact of the bank bailouts and national debt of the UK would be substantially less, if it had been part of the Euro zone.

    One result is that the Pound is internationally inferior to the Euro. The most imminent impact is that Brittish Gouvernment bonds are very hard to sell indeed. Scores of them (at times, the entire lot) have been bought by Englands National Bank; ie, let the printing presses pay for gouvernment debt. Which puts the Pound under further pressure. The effect of this would be substantially less under the Euro-umbrella

    But say, Maggie is still alive, isn't she? Can't she be exported to Greece? I think Greece needs one of those atm.
     
  18. ~Elladan~

    ~Elladan~ A Elbereth Gilthoniel

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    If all economies within the block were convergent I'd happily concede this point but the risk has always been 'one size DOESN'T fits all'. It is a fallacy to claim that the current economic shock has done anything but highlight the risk of divergent economies potentially pulling it apart. To work effectively the Euro zone has to be controlled centrally, by the ECB which basically means Germany. That isn't politically acceptable to most of the Euro-currency members though.

    The Pound has lost ground to a previously fractured basket of currencies now combined under the Euro umbrella. The national debt of UK would not have been any different if we had been in the Euro. The issues stem from the fact that London is the 2nd largest financial centre after New York.

    This weeks gilt sales, like every other, has been heavily oversubscribed. There was no QE monies involved. Gilts have not been 'very hard to sell' so your comment is ill informed. The ECB's refinancing operations (a form of QE) dwarves the £200bn BofE QE scheme http://www.ecb.int/press/key/date/2009/html/sp091110.en.html. Both the ECB & BofE schemes are being used to increase liquidity in the credit market and can be scaled back as conditions improve.

    Not sure what you're driving at here other than clearly I've said something that got under your skin judging by the tone of your post. But a reality check certainly wouldn't go amiss in Greece.
     
    Last edited: Feb 10, 2010
  19. Sneakybolt

    Sneakybolt Melereb

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    Not at all
     
  20. Turambar

    Turambar Harebrained Staff Member

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    There is a considerable difference between the BofE and the ECB scheme. BofE mainly acquired gouvernment bonds with the 200 Pounds printed. The ECB used the - what was it - €900? printed to support the financial markets directly to secure dubious loans and provide direct liquidity.

    BofE didn't buy gouvernment bonds this week, since the 200 Pounds have been spent - and there's no second extention of the programme in sight.

    Well, I dully recognise that it's not all glitter and glamour in the Euro zone. But it's still my personal opinion that - on the matter of the Pound zone (to call it that) - the UK would better off having joined the Euro. Of course, there's no real saying what would have happened if they indeed would have entered... but there you are.

    In the years of the economic growth we had, I think the Euro fared well. And I do recognise that the strengt of the Euro, the Euro zone - and the European Union as a whole will be in for a very interesting test. And I am not at all confident the outcome will be positive. Personally, I don't fear Greece... it's the Spains and the Italies of the Euro zone which are increasingly worrying. The way I see it, Greece will pay dearly for keeping the rest of the Mediterranean zone out of a bail-out.

    But Foin is right - in the long term, the Belgian Federation will take center stage. Belgium not just a monetary union; it's a fiscal union (whether it's a political union remains uncertain). In the long run, the EU, or, at least, the Euro Zone will have to become a fiscal union as well. Or, possibly, as the US is doing, the ECB needs to be branched out. Sadly, however, Belgium seems to prove that this is not working....