Pound 'buying less than a Euro'

BBC NEWS | Business | Pound 'buying less than a Euro'

This collapse is just astonishing. Just a few days I linked a shocking news piece here about the pound costing only 1.10ish Euro. The British economy is declining so rapidly that they want to adopt the Euro. I hope they will not, taking such a falling economy burdened by debt into the Eurozone would not be worthwhile.

Every currency is facing problems, UK included.
When this economic crisis blows over, UK Pound will take back its rightful place. Above the Euro.

I just hope to God Labour does not drag down UK to the tyranny of the EU and all that is entailed with it, Euro included.

Laila said:

Every currency is facing problems, UK included.
When this economic crisis blows over, UK Pound will take back its rightful place. Above the Euro.

I just hope to God Labour does not drag down UK to the tyranny of the EU and all that is entailed with it, Euro included.

Click to expand...

Whats tyranically about the Euro? What is tyranical about economic union(which it mostly is), what is tyrranical even about political union?

You should pray to God rather than you become members and are not allowed to take on debt in the speed you are doing to save the indebted economy with even more debts. I think your politicians are dragging your economy down to near collapse at the moment.

The European leaders were so pathetically slow in handling this crisis it had to follow UK's lead in this crisis and is still doing so. Seems European countries still needs someone to hold their hand. No wonder they will never emerge as a superpower.

As long as Ireland says No to the treaty, we are safe
I dread the day Parliaments Soverignty is handed over

Laila said:

The European leaders were so pathetically slow in handling this crisis it had to follow UK's lead in this crisis and is still doing so. Seems European countries still needs someone to hold their hand. No wonder they will never emerge as a superpower.

Click to expand...

The crisis is not as severe in continental Europe as in the UK or Ireland. They have acted fast but have avoided throwing too much money into the flames like the UK is doing now, I an many believe that will only make things worse. Dont you?


I think the best solution would be to broaden the European infrastructure fund, put hundreds of millions into it instead of giving it to banks. Also I think we need to start rebuilding our cities properly and invest heavily in rural development. Spain is the heaviest stone in the EU right now, but could be cured by building new rail infrastructure for example which would create jobs. Dropping the Euro a bit to offset the fall in export and manufacturing would also help.

The European economy at the moment is the strongest set for global consumption, which I did predict a year ago. Perhaps a new wave of consumption in Europe will offset any other falls, but then end up like the US in the end like I also predicted.

Maximus Zeebra said:

The crisis is not as severe in continental Europe as in the UK or Ireland. They have acted fast but have avoided throwing too much money into the flames like the UK is doing now, I an many believe that will only make things worse. Dont you?

Click to expand...

Im not a economic expert.
Those surrounding the Prime Minister are.
I will trust his judgement until i have ben given reason to doubt it.

I know despite this crisis, UK and the pound will jump back up. It always has.

Laila said:

Im not a economic expert.
Those surrounding the Prime Minister are.

Click to expand...

Are they now? Maybe they are in the traditional way of speaking, but this crisis needs untraditional solutions. No matter untraditional or traditional I hardly believe taking on more debt is the solution to stay afloat. Maybe in the short run, but in the long term it will break the economy.

Laila said:

I will trust his judgement until i have ben given reason to doubt it.

Click to expand...

Sorry that you do.

Laila said:

I know despite this crisis, UK and the pound will jump back up. It always has.

Click to expand...

If you continue taking on more debt it can only fall. No one wants to invest in an indebted society do they? Where is the safety in that? And if people do not buy the pound which they will not in such a scenario it can only keep falling until offset by rising exports, and those will not make up for all the loss in between. The US could do this, and can perhaps wriggle their way out of it, but the UK cannot do the same, the economy is too small and may be the second victim in the global economy after Italy which have already collapsed.