Guest MonkeySee Posted January 14, 2009 Posted January 14, 2009 The Euro is now ten years old. The relatively new currency is, perhaps on par or better, than the US dollar as a world currency. Do you think Great Britian, Denmark and others, that are not participating, are having second thoughts? The Swiss franc is still strong, but the British currency is sure taking a pounding. Quote
Guest fountainhall Posted January 14, 2009 Posted January 14, 2009 The Euro started out on a high and then slumped for several years. As long as the governments in the Euro zone control their budgets, I guess it should remain quite strong, as most seem to believe the US$ has to fall in the long term. Bush's poodle Blair promised a referedum on joining the Euro, then backed off. One problem, or so I read, is that it was difficult to pick the time to join because the British and continental European business cycles were out of sync. Now both are in the tank, maybe the issue will come up again. The pound sure is a disaster area now. But a year ago it was standing around US$2.10. I guess if we wait long enough the pendulum will swing back. Since I visit Japan quite regularly, 2 years ago I bought some Yen for spending on future trips at around 118 to the US$. Now that it's around 90, I sure wish I had bought a ton of it! Quote
Guest MonkeySee Posted January 15, 2009 Posted January 15, 2009 The Euro started out on a high and then slumped for several years. If my memory serves me right, I think the Euro was issued 1:1 on par with the dollar and then dropped to about 85 cents. As the Euro zone countries were able to control their budgets, the currency became stronger. Like you say, the pendulum does swing back and forth. Quote
Guest lvdkeyes Posted January 15, 2009 Posted January 15, 2009 I have several friends in UK and they, for some reason, don't want to change to the euro. Maybe they will change their minds now that the pound is so weak. Quote
Guest fountainhall Posted January 15, 2009 Posted January 15, 2009 I have several friends in UK and they, for some reason, don't want to change to the euro I have always thought the anti euro movement in the UK is more an issue of loss of sovereignty than hard economic facts. Quote
Guest lvdkeyes Posted January 15, 2009 Posted January 15, 2009 I have always thought the anti euro movement in the UK is more an issue of loss of sovereignty than hard economic facts. That is quite possibly the case. Quote
Guest MonkeySee Posted January 16, 2009 Posted January 16, 2009 I have always thought the anti euro movement in the UK is more an issue of loss of sovereignty than hard economic facts. There are quite a few UK citizens that are crying about the exchange rate. Not sure, if they are in favor of giving up part of their sovereignty that going to the euro involves. I know they would rather have the euro exchange rates right now. Quote
Guest Posted January 18, 2009 Posted January 18, 2009 The Euro is now ten years old. The relatively new currency is, perhaps on par or better, than the US dollar as a world currency. Do you think Great Britian, Denmark and others, that are not participating, are having second thoughts? No second thoughts in the UK amongst the majority of the population, as we recognise the flaws in having one interest rate for many different economies. However, people in Italy, Spain & Greece are will be starting to have second thoughts shortly. They effectively need their currencies to fall & there is little chance of that whilst they remain in the Euro. Quote
