So, I heard on NPR today that the UK has declined joining the EU once more. I say hurray for them. Isn't the pound still stronger than the Euro? Also the Brits to me have always had a more distinct identity from the rest of Europe. Maybe that's my Amerocentric view of things.
Comments
Originally posted by LiquidR
So, I heard on NPR today that the UK has declined joining the EU once more. I say hurray for them. Isn't the pound still stronger than the Euro? Also the Brits to me have always had a more distinct identity from the rest of Europe. Maybe that's my Amerocentric view of things.
UK as already joined EU since a long time.
The question is about the euro. Personaly i don't mind if they enter in the euro or not. The euro is strong enough in his current state. If one other big member enter it : good, if not : no worry.
I thought the UK was maintaining their distance for now. Yes, I know the Euro is strong, with the backing of resources from how many different nations, how could it not be. I've even thought about investing in the Euro due to it's growth rate.
But is the EU more than a economic agreement, is it really supposed to be a confederation of the European states giving up a part of their sovereignty???
Originally posted by LiquidR
Say it ain't so.
I thought the UK was maintaining their distance for now. Yes, I know the Euro is strong, with the backing of resources from how many different nations, how could it not be. I've even thought about investing in the Euro due to it's growth rate.
But is the EU more than a economic agreement, is it really supposed to be a confederation of the European states giving up a part of their sovereignty???
The EU (European Union) is an organization comprising the European Community (EC) in the First "Pillar" of relations, Common Foreign and Security Policy (CFSP) in the Second Pillar, and Justice and Home Affairs (JHA) in the Third Pillar. The EC actually comprises 3 organizations, the European Economic Community (EEC, which is really now just the Single Market), the European Coal and Steel Community (ECSC), and the European Atomic Energy Agency (Euratom). The EC was created at the Treaty of Rome in 1957 comprising of France, Germany, Italy, and the Benelux countries. Britain acceded into the EC in the 70s, and the EU came into being (by subsuming the EC) in the Maastricht Treaty of 1992.
The Euro is the fruition of an attempt to create Economic and Monetary Union (EMU) between EU member-states. It officially came into being in 1999 for bank transfers and electronic money stuff, and the paper currency came into being in 2002. Originally, 12 of the 15 member states joined EMU (with Britain, Sweden, and Denmark opting out). With Sweden and Denmark recently joining, that leaves Britain on their own, until the 10 new Central and Eastern European member states join next year.
So, to answer your question, the EU is more than a monetary agreement and is a confederation which involves giving up national sovereignty. In fact, Community law maintains supremacy, and 60% of laws passed in Parliament in Britain last year were just attempts to conform to EU directives.
Originally posted by agent302
With Sweden and Denmark recently joining...
Thats news for me.
Thank You.
Now what is the reasoning behind the UK's opting out of the EMU?
Originally posted by LiquidR
Oh!!!
Thank You.
Now what is the reasoning behind the UK's opting out of the EMU?
The pound is ****ing strong.
Originally posted by LiquidR
So what makes the pound so strong?? Does the UK have an inordinate amount of resources on that island?? Or does it come from holdings and British territories?? What corporations do they have that compete globally against American companies? Why is that it seems that when all other currencies take a plunge, the dollar, the yen, etc; the pound and the euro continues to grow?
The answer is low deficit, low inflation and relatively high interest money rates. It has few to do with corporations, even if they participate it via the growth.
Originally posted by Anders
Thats news for me.
I swear I read this, but, I could be wrong. You being Danish would probably have a better perspective on this than me.