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Topic: Interesting Geographic Facts

Leo Enticknap
Film God

Posts: 7474
From: Loma Linda, CA
Registered: Jul 2000

posted 11-19-2005 09:31 AM

I seem to recall that it was you who started extolling the virtues of the euro, not me. Leaving aside the political reasons why I am opposed to European monetary union on principle, there are plenty of purely economic ones to be getting on with: inflationary pressures, a reduction in growth and an increase in unemployment being but three. And as for the 'it makes life easier' argument, computer-based money transfer makes it perfectly possible for money to be transferred between currencies with a minimum of hassle. It takes me no more time and effort to order something from a foreign country using my credit or debit card than it does from within the UK. Incidentally, I gather that there are now serious (as in, believed by independent commentators to have a significant chance of succeeding) campaigns underway in The Netherlands and Italy to abandon the euro and go back to lire and guilders.

And as for the England/Scotland/NI banknotes issue, that isn't a problem with sterling per se, but rather an internal administrative problem. I'm sure that if the UK did adopt the euro, some English outlets wouldn't accept euro notes printed by the Royal Bank of Scotland and vice-versa.

Getting back to the 'interesting geographical facts' theme, five western European countries - Denmark, Sweden, Norway, Switzerland and the UK - have not adopted the single currency, and as far as I know, they're not performing significantly worse than comparable eurozone nations - quite the opposite, in most cases.

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Michael Schaffer
"Where is the
Boardwalk Hotel?"

Posts: 4143
From: Boston, MA
Registered: Apr 2002

posted 11-19-2005 10:57 AM

quote:
I seem to recall that it was you who started extolling the virtues of the euro, not me.

...

Getting back to the 'interesting geographical facts' theme, five western European countries - Denmark, Sweden, Norway, Switzerland and the UK - have not adopted the single currency, and as far as I know, they're not performing significantly worse than comparable eurozone nations - quite the opposite, in most cases.

I didn't extoll any virtues, and I didn't say that having the Euro makes things automatically better. It's just money, pieces of of metal and paper representing a nominal value, it doesn't have anything to do with larger economic problems and developments. But it makes things a little easier for everyone involved. English money working in Scotland but not the other way around is just an example of silly isolationism in an allegedly "United" Kingdom. Imagine if here we had California Dollars which work in Arizona, but not the other way around.

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