BS: Danes vote 'No' to Euro

Subject: RE: BS: Danes vote 'No' to Euro
From: mooman
Date: 16 Jan 02 - 04:29 AM

Bang....whoosh! January 1st arrived and went!

Hey, I'm suddenly using Euros and it's not such a big deal. Whoa...I've got to go to The Netherlands, Germany, Luxembourg and Italy this month on business. Blast...got to change some money again! Hang on...no I don't 'cos they're using Euros as well!

From where I sit the Euro doesn't seem so bad at all!

mooman (in Belgium)

Subject: RE: BS: Danes vote 'No' to Euro
From: Ringer
Date: 16 Jan 02 - 05:42 AM

Yes, well, Mooman, no one (not me, at least) denies that the single currency has some benefits. I am planning two trips to Europe this year and can see the convenience, particularly as our current European paying guest is paying in Euros so both he and I will avoid all currency-change commissions. But I still cannot see how all Euroland's disparate economies can co-exist without something giving, and what is there to give if no exchange-rate fluctuation is possible? I still maintain that the great experiment will end in tears, that national currencies will have to be re-introduced, and that the ensuing misery will make the convenience experienced by travellers such as me look like a fart in a colander.

Subject: RE: BS: Danes vote 'No' to Euro
From: mooman
Date: 16 Jan 02 - 07:28 AM

Dear Bald Eagle,

I can see such disparity that exists in national economies gradually evening out due to the operation and levelling effect of the single market. Certainly this will take time but I very much doubt that we will see a reversion to national currencies. More likely we will see Sweden, followed by Denmark and then the UK joining the single currency. Probably at that time there will be something approaching parity between the dollar and the Euro because of the size and power of the respective trading blocks and I suspect that there will also be moves to establish a third common currency in the Far East. At least that how it looks from here. But of course, I may of course be completely wrong and you may be completely right!

Best regards,

mooman

Subject: RE: BS: Danes vote 'No' to Euro
From: Ringer
Date: 16 Jan 02 - 11:08 AM

Time will tell, Mooman, time will tell.

As regards re-introduction of a national currency, Luxembourg was preparing to shelve its 70-year-old currency-union with Belgium and issue its own currency when the ERM went potty in the early 90s. Click Here.

Wolfgang: a belated thanks for cents/tsents/zents.

Subject: RE: BS: Danes vote 'No' to Euro
From: GUEST,chrisj
Date: 16 Jan 02 - 10:24 PM

Nobody has mentioned the fact that the 'virtual' Euro has been in existance for several years already, with the national currencies of the 12 members using fixed exchange rates in all trade and commerce. The obvious question is: what disadvantages have so far been identified? I haven't heard of any as yet but what do others think? Yes, I'd say a closer political union must eventually follow the economic integration that will inevitably come from a single currency. For relatively tiny domestic economies like Denmark and Ireland to survive alone, and to deliver acceptable standards of living, would mean a roller-coaster ride, with their national currencies continually vulnerable to currency speculators and with their essential export markets almost all inside the Euro zone in any case. Sure, Ireland will have precious little say in controlling European economic and fiscal policies, but what say would it have if it had remained outside, like Denmark? What happens to Denmark's exports to the Euro zone if its currency appreciates or declines significantly against the Euro? A flood of cheaper imports of farm produce, a drying up of sales of expensive Danish goods in the Euro zone? It seems to me that once the larger European countries, Germany, France and Italy agreed to a common market the small fry had no real choice but to get in as best they could. As for retention of cultural diversity, the world has seen the culling of many cultures in the name of economic rationalism over the centuries (how many wampum beads = a greenback?). At least now our awareness levels are such that we have no excuses if we dump something of real human value.

Subject: RE: BS: Danes vote 'No' to Euro
From: Rollo
Date: 17 Jan 02 - 06:07 PM

I remember having read nearly 100% of danish export goes to germany, and about 80% of danish economy is export. (Anyone knows where to find the actual numbers?)So a common currency would make danish export a lot more profitable, wouldn´t it?
But no wonder they have fears against unification. We tried to conquer them once, now we are simply bying them. Danish feel they have to protect themselves if they want to stay danish. Indeed you are not allowed to buy a house in denmark if you are not living in denmark most of the time. (But then, it were them to build all those holiday appartments which ruin most of their beautiful west coast landscape.)
Yet in my humble opinion a united europe is JUST the thing to protect small ethnic groups! After all these centuries of shifting borders there are a lot of minorities everywhere. Nation does no longer equal Country. The danish minority in Northern Germany is one example. But there is also a german minority in southern Denmark, there are Italians in Slovenia, there is the "classic" mixed country of Belgium, there are minorities spread to two or more countrys like the basque, nearly extinct groups like the slavic "Sorbs" in Germany, and so on... In a united europe there would be no more reason for the basque to bomb up spaniards, or for the catholics and protestants in northern ireland to fight about which country it is, there would be no reason for natinal separatism anymore, cause there would be no more national states!
Maybe it has something to do with our special german nazi history, but in my opinion national feelings in europe are definitely a relict of past. Two world wars have shown what happens if you equal ethnic groups and political structures. We are a great mixup everywhere. We may still have something like national feelings, but what is ist more than local colorit?

Subject: RE: BS: Danes vote 'No' to Euro
From: Gareth
Date: 17 Jan 02 - 06:38 PM

Mmmm!

Wether those who are so against the Euro would be quite so content to put thier case in Llanwern or Ebbw Vale where rather a lot of Corus (ex British Steel) jobs went in the last few years because of exchange rate difficulties, remains to be seen.

However, (and for what oppinion polls are worth) a survey for the "Western Mail" (which claims to be the National Paper of Wales)published last week puts those for the Euro at 41%, those against at 40%.

Yet again Wales leads the rest of Brittain !

Gareth

Subject: RE: BS: Danes vote 'No' to Euro
From: Terry K
Date: 18 Jan 02 - 04:16 AM

And Gareth, does it say how many of them (on each side) even begin to understand what the real issues are? Or do they just think it'll make their holidays easier.

Terry

Subject: RE: BS: Danes vote 'No' to Euro
From: Ringer
Date: 18 Jan 02 - 04:45 AM

And that, Terry K, is the rub. Gareth: what makes you think that the pound/euro exchange rate at which we'd join the single currency would allow Corus products to be competitive? What if it just froze the current unsustainable rate?