14 December 2008

Euro'll Sorry Now!

Hands up if you now think we should have joined the Euro in 1999?

As the pound slides below Euro parity, I bet Longrider wishes we had joined when he could buy a Euro for 61p. His move to France will mean his salary in pounds will probably effectively halve as he pays his bills in Euros.

But obviously more important than Longrider's woes (sorry for upsetting you LR with some home truths about hypocrisy), the UK would have been forced to tackle it's runaway housing market speculation and private debt if we had joined. Long fixed-term mortgages with high deposits should have been the norm back then, we would now be far better positioned to ride out the recession. Brown is an idiot.


  1. As I have made no mention about the Euro - either for or against, no charge of hypocrisy will stand. For what it is worth, had we joined before 2003, I would have saved a couple of grand when the pound slid then.

    As it is, I'll simply keep the bulk of my earnings in sterling and only change that which is absolutely necessary to pay French bills. The effect, therefore, will be minimal. My savings (and interest) remain in sterling for the moment. When the situation changes, I'll shift my money, but not until then.

  2. In the meantime, you might want to read this written in 1995...

    It's never a good idea to jump to too many conclusions, eh? Tends to make you look a bit of a tit...

  3. LR: Your hypocrisy refers to a 'little Englander' like yourself moving to France (when you have slagged off European governments for so long). I find it hilarious that you now profess no problem with the Euro.

    You must have a hell of a lot of money if your outlay is such a tiny part of your earnings - probably explains why you left the Labour party more than your supposed disgust about civil liberties. It all comes down to 'I'm alright Jack' - this objection to speed cameras and the rest.

  4. I have never expressed "Little Englander" attitudes and you are being highly disingenuous in saying that I do. That I object to the undemocratic behaviour of the Eurocrats is not "Little Englander"; indeed, I am doing no more than the French, Dutch and Irish electorates in expressing distaste for what is in effect, a dictatorship. This is not "slagging off European governments" - unless you are using a different version of he English language to everyone else.

    And, again, you seek to tell me what I think. Jesus! But you're an arrogant, self-righteous bastard, aren't you?

    I had hoped after a break that you would be more amenable to sensible discussion. I was wrong. You are still prepared to lie about people in an attempt to make a cheap political point - never mind that it isn't true, just say it anyway.

    Had you bothered to read the link I provided you will realise that I was mildly in favour of the Euro back in 1995. Still, don't let facts inconvenience you.

    Talking to you is a mistake I won't be repeating.

  5. Neil, you are not only wrong but unnecessarily rude on top.

    "His salary in pounds will probably effectively halve", er, no it won't, his salary in pounds (assuming he still earns a UK salary while in France) will remain exactly constant.

    Its purchasing power in terms of Euro will be about twenty per cent less than a long run average exchange rate GBP to EUR (and its predecessor currencies) 1990 which is for him probably irksome but not the end of the world.

    What's the significance of 61p? That happens to have been the GBP/EUR rate from 2000 to 2003 or so, what is the significance of this (given the ERM has been around for over twenty years)? Why not choose 70p (the rate it was when Nulab took over)?

    "But more important that LR's woes ... the UK would have been forced to tackle it's [sic] runaway housing market speculation and private debt..."

    Er, the whole Nulab economic miracle was based on runaway house prices, private debt and even worse GOVERNMENT debt. What makes you think that Nulab wanted to do anything about it, apart from stoke it even more?

    "Brown is an idiot"

    Well, obviously.

  6. There is no love lost between me and LR - I cannot help but be rude - sorry about that.

    I found it hilarious that LR after slagging off the higher taxes that fund the European social model is now moving there.

    Why do so many right-wingers inflict their mean politics on the UK from the safety of abroad? Labour will be out of power in less than 18 months - so I won't let him use the current Labour government as an excuse.

  7. "The hallmark of a gentleman is that he is only rude intentionally."

    Loathing the EU or even a particular nation's government does not require the dislike of a nation or its people.

    As usual, you are conflating two issues to make an incorrect point.

  8. "even worse GOVERNMENT debt."

    Point of order: UK government debt up until this year (even including incurred PFI liabilities, although not including pension commitments because no other government does), was 15-20% below the US and Eurozone average levels.

  9. "Brown is an idiot." It's the first sensible thing you have ever said.

    Just a shame you think he is an idiot for not joining the Euro!

    Joining the Euro is idiotic, but so is Brown for presiding over a Ponzi scheme and destroying the British economy. The Zimbabwean Dollar is very weak but it has not helped it's exports!