Time to ditch the pound?

[Gromit]

Since 2001 the pound has steadily got weaker against the Euro. Today it reached an all time low.

The result most of us will see is that our Euro spending chums on holiday will get more for their money.

http://news.bbc.co.uk/1/hi/business/7338792.st m

Did Brown miss the time to switch? Has the pound had its day? or are we too sentimentally attached to it to let commonsense prevail?

[catmando]

What goes up comes back down again - and vice versa. It's not so long ago since the pound was much stronger against the Euro.

The same applies to the Sterling:US$ relationship.

Whether the UK should join the Eurozone, that's another matter. Personally I hope not but I accept there are strong arguments in favour as well as against. I suspect it is only a matter of time before we do - everything other aspect of our lives seems to be heading inexorably in that direction.

[vehelpfulguy]

>Time to ditch the pound?

More like time to ditch Gordon Brown and the wasters around him.

[R1Geezer]

so when it gets hot in the summer Gromit, do you remove your central heating? After all it can never get cold again can it?

I don't think you can base huge fiscal decisions on tiny extracts of data. Anyway currency up or down has winners and loosers, British goods will be cheaper in Eurozone for example.

Don't Panic!

[Gromit]

R1Geezer

If my central heating has become more and more inefficient and there is an alternative which I can change to, then I will switch rather than stick with something that no longer works.

Gordon Brown stated in 2003 that the best exchange rate for the UK to join the single currency would be around 73 pence per euro, a value which was reach in December 2007. It is now about 80p. Did he miss the boat?

[Kromovaracun]

A weak currency isn't necessarily a bad thing (well, unless it's really, really weak).

I have to say I'm undecided on the Euro. But I can't see any really compelling reason to join it but my knowledge on the issue is limited. I think I'll just listen to the debate.

[Loosehead]

Yes gromit but it's been going 9 years, looks ok now, how do you know what will happen in the future? You have a crystal ball no doubt! Once in getting out would take a revolution so I want to be sure it's right, I'm not convinced by the "it'll be easier on holidays" argument put forward by the Europhiles.

it launched at 71p in 1999 and then slumped down to 63p at some point before finally reaching it's starting point of 71p in 2007. (ok pedants occsional blip over up to then). are you saying that you take 6 years of bad followed by 2 years of good performance as a sign that it will continue in that vain? I need a bit more than that before I take out my heating system.

You'd be the first to moan if we went in and suddenly the Euro dropped because of unknown factors.

[anotheoldgit]

Conduct a straw poll around Europe Gromit, and you would see then how many countries would rather have their own original currency back.

Anyway if we in this country were to convert to the Euro, don't you think it would be like always, we the ordinary people would be the one's to lose out, look what happened when we went Metric.

[Gromit]

AOG
I remember that firms took the opportunity to put prices up when decimalisation came in, but I do not recall any problems with metrication.

[brionon]

anotheoldgit
I live in Italy and Belgium and I've Never heard Anyone wish
for their old currency back.

[legend006]

lol at gromit

when we went metric
welll a yard became a metre
well plus 3 inches lol

[anotheoldgit]

Not two very good examples brionon, Italy before the Euro had huge inflation I think in 1999 it was 2,424 Lira to the Pound and 1,936 to the Euro.

Regarding Belguim isn't that the Capital of Europe? (or at least Brussels is).

[brionon]

So why aren't they good examples ? Because they prefer the Euro ? Strange ! If they didn't prefer it they'd be good examples for your Example-les argument ?

[Kromovaracun]

Because their currencies were pretty crap pre-Euro. Anything would've been an improvement.