Why are the majority of British people opposed to the introduction of the Euro currency?

Question

Before you answer, please read this.

In my country, Ireland, the introduction has been one of the best things we have ever done. I can travel anywhere in the EU, Malta, Portugal, Slovenia, Germany, Italy, and not only do i not have to change money, I can see if i am been ripped off or getting a good deal on my purchases as i know the currency. If a can of coke is .99c here, im sure as hell not going to pay €3 for one on holiday! Also, the currency has helped Ireland's failing economy recently and not let it go into meltdown, as what happened to Iceland (financially of course, not literally, though it looks like that too now ha).

So, here we go, why are British people so opposed to it. I know they have a strong sentimental value to it, but do British people not realise that the Queens head will still be on it? Is it because British people think it is becuase they will lose some of there sovereignty? (i for one can tell you that when we changed over, it changed nothing, just smaller coins and noted with different pictures on them).

In your answer, i would appreciate it you you say if your British or not, and on what grounds you oppose it, and also whether you where of the fact that the Queens head would also be on the Euro.

I dont really care personally one way or the other, im just trying to educate myself here by understand the mentality, thats all! Thanks

Answer 1

I'm English, and i oppose it because its less vavlue then the pound we have 53 nations in the common wealth that boost the pound we are teh finiacal capital of the world now were past wal street.



the pound is far greater then the euro.



yes we also do feel like in this nation nothing is british anymore, most people in the UK are anti EU because their is speculation of trying to form a Europhia state.



one goverment for all.. they want control of britians finiacal centre they already make our laws that we opose.



immagration here is a top concern for the public and whilst were in the EU their isent to much we can do about it they want to create a borderless state.. the EU benifits smaller nations like IRLAND and poorer nations.. but it does not benifit the UK.



because were the biggiest contributor.. the EU would go backwards with out the uk thats not my opinion thats just facts..



i'm not bothered about the queens head on the coins.



our milk is in '' PINTS'' now because of the EU its Ltr's weight is mesured in Kg or somthing, not stones ? soon height will be measured in cm's not feet.



our idenity is changing, and one reason is because of the EU.



now they want a one currencey for all ?



changing to the Euro would also make it difficult for our houses markets which have already hit rock bottom.



The disadvantages are that a Euro-bloc member nation doesn't have control over its currency any longer. So it can't do things like devalue when it wants a trade advantage for itself. And you're stuck with borrow and spend members like Greece, Portugal, Spain and Ireland, which haven't been as fiscally disciplined as required under EU standards. They're supposed to keep national government deficits at 3% or less of GDP, but haven't. In addition, they and other EU members have used derivatives transactions to obscure fiscal profligacy. So a potentially major disadvantage of joining the Euro-bloc is that you have the joy of helping to bail out the member nations that can't control their deficit spending.

Answer 2

There is a lot more to it than just calling our currency by another name. Introducing the Euro would mean that unelected foreigners would CONTROL how we spend our money. He who holds the purse strings holds the power. I think I am going to scream if another person wants to adopt the Euro because then they wouldn't have to visit the Bureau de Change before going on holiday. There really is a lot more to it than just that. I urge you to find out about it. Reference your remark about Mark being a strong currency - exactly! Look at what a state Germany has been in since it adopted the Euro. I have spoken to French, German and Spanish people since they adopted the Euro and they all hated it. Prices had risen hugely. And all those idiots who think I don't want the Euro simply because it wouldn't have the Queen's picture on - for goodness sake. You frighten me. If we change to the Euro we would give away control of our finances. It's got nothing to do with the picture of the Queen.

Answer 3

Sentimental value, an added sense of national identity.



More practically, it allows the UK government to establish monetary policy specific to its needs. Greece is not able to do this to any degree, and its economy went into crisis with no way to help fund its ballooning debt. Germany, heavily dependent upon exports, would do well to be able to devalue its currency and adjust interest rates to be competitive in sales to the US, Canada and eastern EU countries. The Chinese, Canadians and Americans can and do, as do the Swiss. By slightly increasing or decreasing the interest rates and thus devaluing or increasing the value of its currency, a country can better hedge against inflation, and be more competitive in exports (lesser value), get more for imports (greater value) and attract foreign investment (greater value), depending on its particular need(s). And while there are studies that show costs lost in currency exchange, there are studies suggesting the services provided in changing and managing currencies negate much of these costs.



By the way, you cannot travel anywhere in the EU with the Euro. The Czech Republic, Romania, Bulgaria, Sweden, Denmark, Lithuania, Latvia, Estonia, Hungary, Poland and the UK all retain their own currency, while the EU is allowed and utilized around the big cities, prices are not in Koruny/Forint/Pounds and Euros everywhere, and in smaller towns and villages a Euro is not often used.



Britain does very well as a financial center using the value of the British Pound. They stand to lose some of this financial independence as the Euro's financial hub seems to resonate in Frankfurt. So converting to Euros may not be in the UK's interest, certainly not London's.



Not from the UK, I was aware of the fact that the Queen would be on the coin currency (as is Beatrix in the Netherland's coinage). I do care personally, as a former resident in the Euro zone (Czech, Italy) with many ties still and as an Economics student, I consider it an important question. I'm not convinced of its long term benefits in certain countries like Italy, whose fiscal house is not in order and won't be for decades without monetary manipulation of currency which it cannot do, or the Balkans, some of which have adopted the Euro with hopes of joining the EU but are in even worse shape than Italy and have unique problems entirely different from Germany's.



Also the experiment of joining such countries differing radically in their economies (Kosovo, Bosnia & Herzegovina, France and Germany all use the Euro) to one currency takes away financial independence. I'm not Euro-skeptic and very much support the EU. But a single currency has its limitations and it's like using the same tool for 27 different jobs - there are better tools custom built for each job.



Having the Euro when EU momentum is moving forward can be a plus (see Ireland, Spain).. not having it can also be a plus (see the UK, Czech Republic, Slovakia, Slovenia). But having it when the continent has stalled leaves a country with unique financial problems with its hands tied.

Answer 4

I have been to Ireland several times camping and to the cities and each time I have gone I have found the prices too high. I would compare a bottle of wine with what we pay in the Uk and found it so over priced. This would also explain the scores of people going over the border to Northern Ireland to buy things. Another thing that bothers me is the amount of control the Germans have, it is World War 2 all over again. You will find at the end of the day the only one who benefits is Germany once they dismantle the British Banking system and replace the pound with the Euro they will be in full control of a European Super state, and we will be its subjects. The economist predict that the UK will have the second largest economy (after Russia) in Europe by 2020 even without the Euro. I have not even mentioned the fact that Greece and Spain and portugal will destroy the Euro before Uk has to decide.

Answer 5

I'm English and against it as i think it's good that Britain has control over its own interest rates rather than having to go with the rates most suitable for Europe as a whole. I'm also concerned that shopkeepers would round up the price of everything during any switch to the Euro.

Answer 6

I dont really have a problem with the Euro currency - you can pay me in pounds, Euro's dollars, credits or whatever - I have no allegiance to the pound, nor does it bother me whose picture is on it. I only care that I can buy the same amount of goods for my labour with whatever as I can now.



However the downside of the Euro has been exposed in the current financial situation.



Because the UK has retained it's currency we have the ability to move interest rates in the best needs of our own economy and not with what is best with the majority of Europe. The UK interest rates went from being between 0.5 and 1% above the rate set by the ECB to 0.25% below it. This has allowed the UK to support British interests above those of Germany and France, it has allowed us to devalue the pound to make our exports more competitive abroad, and imports more expensive encouraging British consumers where possible to buy British made goods. This has helped our economy. It has also encouraged British families to holiday in the UK rather than abroad, and encouraged foreign tourists to the UK helping our tourism industry.



If you look at the Irish economy (or the Greek, Spanish or Portuguese) it would benefit from lower interest rates, perhaps even lower than that of the UK. Ireland's GDP shrank by over 10% in 2009 and is expected to fall again this year. The Irish government cannot set its own fiscal policy in the best interests of Ireland - you are losing tourism from overseas mainly UK and US which is having a huge impact on your tourism trade (which is more important to Ireland than it is to the UK) - The main country that you export your products to is still the UK and you are more expensive, so your farm produce is not being sold and your Guinness is not being drunk in the same qualities.



For me to vote yes in any referendum on joining the Euro - the UK would have to retain autonomy in setting interest levels. As this isn't possible I cannot see me voting yes. Prior to this recent economy I would have voted yes as I did not foresee a collapse of this size ever happening.

Answer 7

I'm English and against the introduction of the Euro as a currency. We're quite happy with our pound sterling currency and have no intention of having the Euro. We want out of the European Union so adopting the currency would just be plain stupid and considering what the currency has done to Greece and it's economy, it's obvious that it's not good for this country and never will be.



Not having the Queen's image on the currency would be an insult to our Queen and the country.

Answer 8

Because the UK has a slightly different economic model than the rest of the EU, and having the common currency would tie their hands in monetary policy.



That's the solid reason not do do it. The popular reason is xenophobia and euroskepticism.

Answer 9

im British- its all the media mate, most people would be fine with it, like me i would be very happy if we adopted the euro.

Some do think we will lose our character our "britishness" which makes us better than other countries, lol but i think we will do it within 10 years.



i suppose it would wind an irishman up being so close to a big country and having to change your money before crossing the border

Answer 10

In many cases, because they believe that the pound is in some way an expression or emblem of Britishness - they fail to realise that Britishness is a quality found in British people, not in the name we call our currency.

Answer 11

I'm British. It's mostly media-induced xenophobia. Personally, I'm indifferent towards it.

Answer 12

people like their own coin. they trust it more.