The Mudcat Café TM
Thread #35616   Message #496009
Posted By: vindelis
01-Jul-01 - 04:25 PM
Thread Name: BS: Should UK join the Euro ?
Subject: RE: BS: Should UK join the Euro ?
I have just spent two weeks in Ireland and I can say for certain, that I for one, will be voting againt in any referendum on the Euro. If the UK were joining on 1 Jan 2002, based on the current value of the Euro, on the open market, every man, woman and child in the UK would see an overnight devaluation of 14 percent on the money in their pocket. (The Euro is currently trading at 61p Sterling, and we would still be expected to pay 70p sterling for each Euro in our pockets. Just thank God that you're not Irish and have to stump up 78.7564 pence for the same thing. (Pushing thirty percent inflation at today's rates). The people I have spoken to all feel thaty have been conned. Someone somewhere will get rich as a result of all this but it certainly won't be Joe Public, who will be well seen off as usual.