Why are people so againts the UK adopting the Euro?

I would love to use the Euro, and think that it is about time we stopped being so stubborn and adopted it. It would save so much hassel when traveling around europe and, to be honest, its a good looking currency.

It's hard to know how to answer this question.

Many people are against the Euro for reasons that have little to do with economic sense, and everything to do with jingoistic pride.

However, many well-educated people are against the Euro for several good reasons:

1: In other countries (for example, Spain), the local currency -> Euro transition was done in a way that immediately devalued everyone's savings, by pegging the conversion rate at an artificial rate that made sense for the government's policies, but left everyone able to afford less food each month.

2i: Taking up the Euro isn't about having easy bank notes - it's about having interest rate policy set by the European Central Bank rather than the Bank of England. The Eurozone is now a huge place, and one set of interest rates to tweak that will impact all economies positively is hard. What might be good for German industrial output might be awful for Greek farmers - which way should Eurozone interest rates be moved? With a basket of currencies that slide against each other, it was possible for the German government to move rates up and the Greek government down (and let the rates move against the Drachma) if that was what was best for both countries.

2ii: Compared to the rest of "original Europe" (Germany, France, Italy, Spain, Netherlands and the Benelux countries), the UK has an economy far more dominated by commodity pricing, because of the huge North Sea oil revenues. That means that the UK economy has regularly swung in a different direction to the rest of Europe... having one set of interest rates to govern both makes the problem worse.

2iii: As per oil, so likewise for "financial services". An awful lot of the "UK economy" is actually the percentage that the UK stock and commodity markets make on transactions all over the world, that just happen to happen legally in London. Having a little money trickle into the UK when a Zimbabwan farmer sells products to a Thai national working in Dubai because we have a stable platform to cut that kind of deal generates an awful lot of cash for the UK. By comparison, only really Germany has anything similar in scale... another reason why the UK and Eurozone economies swing wildly.

3: In the UK, the press comment about the Euro has been far more about the ECONOMIC impact than in the rest of Europe. When you have, say, a French politician saying "You must vote for the Euro because it means we'll never go to war with Germany again", you have to ask whether this is REALLY about economic policy, or just about spin. [1]


What it really boils down to is a question of how should interest rates be set... Bear in mind that changing rates affects everyone's mortgages (or rent, because increased costs get passed on)... and affect employment rates... and prices ... and so on. Should this be done on a country-by-country basis, or should it be done to try to manage the continent as a single entity.

The "non-Euro" group believe that there are real advantages, which massively outweigh the benefits of not needing to change cash at Gatwick, to keeping UK control of interest rates.

[As an aside, if Scotland were to go independent, my personal view would be that it should have its own currency that freely floated against the English pound and the Euro... but that would be a question for the Scottish people to decide.]




[1] No two countries which both have more than 20 MacDonalds in each have ever been at open war with each other since they opened. This isn't particularly because the food is peaceful :-) But because countries with economies open to cross-border trading tend to so interconnected that it tends to be more sensible to make peace than grab land.

you said it, we're stubborn!!!

Everything would go up in price. Also the Euro is not stable.

Because a lot of English people hate change. I am one of them. You might find the novelty of the Euro might wear off after a while.

huh, GBP is worth so much MORE come on

Well i for one am proud to use bank notes with the word "Scotland" on them. Think i would like to use ones with "euro" on them? No i wouldn't. This is 'Britain' even though id like to be separate from the English. We got bribed into joining up with England in the first place, no way would i want to use Euros. Thanks to the EU we have less and less individuality as countries. The land and resources are being raped because of it.

Mmmm....are you old enough to remember decimalisation in 1971? If so, that might give you a clue!

Because we would lose control of our monetary policy. Now the MPC can set interest rates to suit UK economic conditions which may be different from continental European requirements.

It looks like monopoly money - I want the queen on my notes thanks!!

The 拢 is worth more than the euro, why would you want to throw money away.

If the 拢 drops to below the euro of course we would change.
http://en.wikipedia.org/wiki/Highest_val...

they would run our banks etc and the cost of living would go up

Sentimentalism towards the pound has to be the number one reason going off what I see and hear from those against the adoption of the Euro.

Lack of factual information about the considerable sound economic benefits of the Euro, leading to a generally poorly informed public at large is perhaps the next main reason. That is the fault of our government.

The "Euro" countries were no less attached to their native currencies but their populations were suitabley well informed to make educated decisions.

I never really thought much about it ... but i just been traveling round asia............................. KEEP THE POUND ... IT F**kIN RULES

pluss , them bloody frenchys are on th euro. and they are Toss

i agree with Jo W. we were ripped off then.

First of all...... It would take blimmin ages to change all the money we have around the house into Euros which will cause havock in the bank aswell as people missing their work days to count all that change.

Secondly...... The pound been our currency for ages now, why be like the rest of Europe and have the same boring currency.

Thirdly........ It will take ages for people to learn to use Euros after having years and years of maths lessons including the pound at school.

Why make life even difficult then it already is for a currency x

Because of false pride and stupidity.
They do not mind their country being taken over by immigrants and Muslims, and becoming second class citizens in their own country, but by Jove they are English. Soon to go down as famous last words.

It's just one more step to initializing a one world order and losing our own proud American heritage. I also doubt very much that the Euro has "In God We Trust" Nor would it have anything of America on it. It's all moot because one day there will be nothing but cards. No form of coin or cloth will be used then.

The economies of the Euro-using countries haven't done so well. The 拢 has kept much more stable (despite of, not because of, this Government). Anyone who remembers decimalisation in 1971 will tell you about the rampant inflation that followed, making us oldies wary of other changes.
OK, maybe currency changing is a hassle when going to Europe, but I reckon that's a small percentage of the overall usage figures. A lot of people never go to Europe. As for the Euro being good-looking? When I first saw it, I thought it was Mickey Mouse coinage from Disneyland.

its the fear of giving away more symbols of Britishness as the British identity has become eroded over the years and this is the ultimate euro expansion in one of the last bastions of England, the pound with the queens head on it, the euro is controlled by the German bank, which is not a big plus with some people.. mmmn....

It is not our choice

1 The banks make far too much money out of changing currencies to adopt the Euro

2 The Government wants to keep it so we can't easily compare our standard of living costs and taxes with others in the EEC

The idea that 'we' don't want it is a myth 'we' have never been asked and if we were the question would be so loaded to rig the outcome