Uk keeps its economic independence

[CerberusIV]

Originally posted by TheStinger
keeping the pound means economic decisions being made by an elected governmane chosen by the people of theis country. As for influence what influence, the we would have 1 vote on the ECB, wow thats just great.

The reality is that we live in a global world in the economic sense and our government has a limited influence on the bigger picture. The ECB overall has more global significance.

Personally I don't trust politicians or even regard most of them as competent, either our domestic ones or the EU variety. If they have to work through a bigger organisation they have less individual power and less opportunity to make a mess.

[MikeH]

Originally posted by *End Is Forever*
What's with all these discussions about economics anyway? The single currency only barely registers as an economic issue...

In that case I can't see any reason not to join.

[TheStinger]

Its a political decision in that the question of who retains control of our economy is political. We are economicaly tied to the rest of the world are we supposed to have the same currency as them

[*End Is Forever*]

I don't see any great rush to tie our success to the economies of Germany and France. Er, no thanks.

[TheStinger]

Originally posted by CerberusIV


The reality is that we live in a global world in the economic sense and our government has a limited influence on the bigger picture. The ECB overall has more global significance.

Personally I don't trust politicians or even regard most of them as competent, either our domestic ones or the EU variety. If they have to work through a bigger organisation they have less individual power and less opportunity to make a mess.

The ECB will be very powerful, how will that help the UK.

AT the moment the chancellor sets the bank of england an inflation target,who then set interst rates accordingly. he is otherwise free to set his budgets as he sees fit. If he cocks it up either through the target or in other ways, I as does everyone else has the opportunity to vote the government out. There would be no such opportunity if the ECB set interst rates

[*End Is Forever*]

Our single interest rate doesn't even fit the entire UK well. How on earth can a Europe-wide interest rate be more appropriate?

[Dauphin]

If the single currency is bad for the UK as we want control over our monetary policy, then why do we have only a single currency within the UK. The economic needs of the north of England are different from those of the south, and are different of those of Scotland. I'm always hearing about how BoE decisions favour London and the southeast. Would we be better off splitting up the UK into two or three currency zones, each with their own monetary policies?

[Paul Hanson]

I've never quite figured this argument about interest rates. Can someone explain to me why America is able to cope with a single interest rate but Europe apparently can't?

That was a genuine question, by the way, and not a snide attempt at argument.

[*End Is Forever*]

It's a nice thought, but I look forward to hearing how it can be implemented...

[TheStinger]

Because the US is 1 country, I know you all like to pretend that you are 50 independant countries but your not. You have a central body deciding fiscal policy europe doesn't. The economic disprities between rich areas and poor areas are not as great as in europe.

[MikeH]

France and Germany are cool.

[*End Is Forever*]

They're fast becoming economic basket-cases.

[HershOstropoler]

Well, just wait for the England basketcase when the real estate bubble goes *pop*.

[*End Is Forever*]

At least we won't be taking the rest of the continent down with us...

[TheStinger]

the economy would indeed go pop if the house price boom required a rise in interest rates to stop it, it does however appera to be slowing of its own accord.