A political scam (The Euro)

Member Name: Alternum

Product:	The Euro
Date:	18/08/00 (54 review reads)
Rating:

Advantages: None

Disadvantages: Losing control of our economy

Let's be perfectly frank. The Euro is, was and probably shall continue to be for the foreseeable future, a political project, perpetrated by narrow-minded European politicians who have dreams of their names being set down in the history books.

Now that's over, let's look at it from a more logical perspective. The claim is that it will be good for, well, essentially everyone in the economy. It will eliminate exchange rate worries for exporters and governments. It will increase competition by making it easier to compare prices. It will bring interest rates down in the UK, it will increase employment.

Rubbish.

The pound will be fixed against currencies - just like in the ERM - except this time it will be irreversible. We will lose a valuable way to release pressure in the economy. We will also lose interest rate control, which is another valuable economic weapon. It will bring interest rates down to levels unsustainable and unsuitable for the UK - just look at the example of Ireland. And if anyone will really go to Calais to check the price of bread in France, please tell me.

It's a bad idea. We have the most liberal, well-balanced economy in Europe. Why spoil it?

Summary: