Carl
01-14-2009, 12:29 PM
"I'd rather have a debauched pound than a dysfunctional euro"
Posted By: Edmund Conway
---- Jan 13, 2009
Telegraph blogcomment
"...............The point is that the weaker pound should encourage exports in the coming years. It should be the cure, rather than the disease, for the UK economy. Spain's problem is that the euro is still painfully strong because of the vastly different fiscal and economic position of fellow euro members. As the report says: "The status of the British pound sterling as a major global funding currency... is expected to provide funding flexibility for the UK government during the heavy sovereign issuance expected to flood international debt markets in 2009............"
Question therefore:
Would you rather retain the Pound - or join the EURO Blok?
The Pound is currently sinking against the Euro -- and Germany ( with others) is certainly proving the strength , relative any way , of their own economy. But is that all that matters? Does it matter that pain and resentment will build up elsewhere as a consequence of the imbalance?
One thing to note ! There seem very little objection to the whole EURO conglomerate within Germany - and little prospect indeed that anything relevant at all will ever happen there. They are entirely creatures of the Euro-system it seems!
Contrast Britain - where there is a strong movement within the nation to be independent of the whole incorporative structure!
Can - should - this continue to be the case ??
A further issue -- would the Americans prefer to see Britian pushed into the EuroZone - this is certainly a concern for some!
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Posted By: Edmund Conway
---- Jan 13, 2009
Telegraph blogcomment
"...............The point is that the weaker pound should encourage exports in the coming years. It should be the cure, rather than the disease, for the UK economy. Spain's problem is that the euro is still painfully strong because of the vastly different fiscal and economic position of fellow euro members. As the report says: "The status of the British pound sterling as a major global funding currency... is expected to provide funding flexibility for the UK government during the heavy sovereign issuance expected to flood international debt markets in 2009............"
Question therefore:
Would you rather retain the Pound - or join the EURO Blok?
The Pound is currently sinking against the Euro -- and Germany ( with others) is certainly proving the strength , relative any way , of their own economy. But is that all that matters? Does it matter that pain and resentment will build up elsewhere as a consequence of the imbalance?
One thing to note ! There seem very little objection to the whole EURO conglomerate within Germany - and little prospect indeed that anything relevant at all will ever happen there. They are entirely creatures of the Euro-system it seems!
Contrast Britain - where there is a strong movement within the nation to be independent of the whole incorporative structure!
Can - should - this continue to be the case ??
A further issue -- would the Americans prefer to see Britian pushed into the EuroZone - this is certainly a concern for some!
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