It's Time Pounds were Replaced by Euros
Ladies and Gentlemen:
I am here today to talk to you about changing our current Pound to the
Euro. This has been a major issue in Great Britain since the 1970's.
Why do I oppose the Euro? I feel that it's the right thing to do. I
love my country and will do my little bit to stop British sovereignty
being handed over to unelected bankers in Frankfurt and anonymous
bureaucrats in Brussels.
Sterling is a big part of our national identify. Britain is the fourth
largest economy in the World and we have a strong currency. Why give
it all up for the Euro? We have shown since 1979 that we are more than
capable of trading and competing in an open market.
After joining the Euro, Britain couldn't change it's mind and back
out. We would be trapped as a European dependant monetary system.
The exchange rate mechanism, where we linked our currencies with
Europe between 1990-1992, turned out to cause recession, high mortgage
rates, a slumping housing market, an increase in bankruptcies and many
jobs were lost. This was because British short-term interest rates
were effectively determined by the inappropriately high German rates.
Britain shouldn't make that same mistake again.
At the moment, if politicians are performing badly we can vote them
out; but if we joined the Euro, our economic decisions would be made
by unelected officials from Brussels and Frankfurt.
Some people may think that sterling is a 'thing of the past', 'a piece
of metal' that simply has a perception of value; but it isn't. Having
our own currency is what gives our Parliament the power to manage our
economy. Without the Pound Parliament is reduced to the impotence of
the average County Council
It is vital to our national interests to retain the Pound sterling. To
give up control of our currency is to give up control of our economy;
no Pound means no independence.
Briton's for the Euro say that the isolationists are backwards,
The benefits of the European Union outweigh the costs. Ever since the end of World War II, countries in the EU have been helped economically, politically, and culturally.
To begin, United States should not eliminate the penny because the coin has impacted our language by giving us more phrases and words. According to source #4, it states, “The one-cent has influenced our language, giving us a number of idioms, such as ‘a penny for your thoughts’ (a way to ask what someone is thinking) and ‘not one red cent’ (meaning no money at all).” This is significant because it shows that the penny has affected the English language
However, there are many countries that have not yet adopted the Euro and have remained incredulous about it. Two countries that fit into this example are the UK and Denmark. The UK’s reluctances to adopt the Euro has begun with its opt-out of the Maastricht Treaty that was signed in 1992 by all members of the European Community and has led to the creation of euro. Within the Conservative Party John Major, who was at that time the Prime Minister of Great Britain, was considered “pro-Euro”, as he pledged to keep Britain “at the very heart of Europe”. However, as his government was endorsing the Treaty, he was faced with strong antagonism in the House of Commons that consisted mostly of the so-called Maastricht Rebels who were members of his own Conservative Party rather than the Labour opposition. The endorsement was voted down and Major’s authority in Parliamen...
Tom Newton Dunn, ‘Go to the war on the Eurom Law’ The Sun, 7 February 2011accessed 29 March 2011 http://www.thesun.co.uk/sol/homepage/news/3395471/David-Cameron-urged-to-go-to-war-over-Euro-law.html
It is well known that after World War II, states began to move away from the trends of nationalism that had brought on conflict in the first place. Across large parts of Europe, there is instead great support for federalism and get support for integration and interdependence. In 1952, the European Coal and Steel Community was created, followed by the establishment of European Economic Community in 1957. With allies being made and different treaties and agreements being signed, Europe was definitely becoming a ‘federation’. In 1973, Britain joins the EEC along with Denmark and Ireland. The European Union is then formally established by the Maastricht in 1993 and gains its 28th member, Croatia by July 2013. When a referendum was taken in the UK regarding joining the EU the vote was two-to-one in favour. The benefits of joining of the EU were clear. The UK would benefit not only in an economic sense but also politically and socially. However, in recent times, opinions have changed. There is now debate as to whether the UK should remain n member of the EU. More and more people are speaking in favour of the United Kingdom leaving the EU and standing on its own. While there are persuasive arguments for and against, it could still be argued that the argument against...
Between 2001 and 2006, there has been an increase of .6 cents for the reproduction of the penny. This increase displays economic problems that may lead to fatal ones. The penny is composed of 2% copper and 98% zinc. These elements are exponentially in demand causing the price of these materials to skyrocket. Many Americans think the penny is putting our country in jeopardy with financial losses. This meaningless coin is losing money for the mint, and should be abolished.
To most people in the United States hearing the word Euro brings about blank stares. Ask this same question in England or another European country and it means bringing Europe together under one common currency. The Euro can be defined as the common monetary system by which the participating members of the European Community will trade. Eleven countries Germany, France, Spain, Portugal, Ireland, Austria, the Netherlands, Belgium, Luxembourg, Finland and Italy will comprise the European Economic Monetary Union that will set a side their national currency and adopt the Euro in 2002. A new National bank, based in Frankfurt Germany, will be constructed and the interest rates that control the economies of these nations will be in the hands of this new system. It is indeed a great experiment, being masterminded in Frankfurt, one that will be felt through out Europe as well as the rest of the world.1
Walker, Bruce. "Euro Likely to Keep Losing Value." The New American. The New American Magazine, 7 July 2010. Web. 23 May 2011. .
Eurozone crisis has had huge impacts not only on the economy of the UE but also on the other countries who have economic and financial relations with the members of the union. The reason why we have decided to examine the Eurozone crisis in detail is to have a better understanding of the mechanisms behind this extremely important and complex problem and also to make accurate inferences about the solution alternatives. In our pape...
With the introduction of the Euro Zone allowed the Anglo and INBS to compete in the Irish market. Unfortunately, this resulted in the willing...
The first reason is the issue of euro. Considering a strong correlation between money and collective national identity, money can be used as an effective tool in facilitating the integration of diverse identities (Risse, 2003). Actually, the principal goal of the issues of euro is to promote the unification of the monetary system and foster integration of the economy in order to ease economic activities betwee...
Inflation; ‘a situation in which prices rise in order to keep up with increased production costs… result[ing] [in] the purchasing power of money fall[ing]’ (Collin:101) is quickly becoming a problem for the government of the United Kingdom in these post-recession years. The economic recovery, essential to the wellbeing of the British economy, may be in jeopardy as inflation continues to rise, reducing the purchasing power of the public. This, in turn, reduces demand for goods and services, and could potentially plummet the UK back into recession. This essay discusses the causes of inflation, policy options available to the UK government and the Bank of England (the central bank of the UK responsible for monetary policy), and the effects they may potentially have on the UK recovery.
The invention of money is perhaps one of the greatest achievements of human civilization. From the very beginning of society, people have used money to circumvent the difficulties of bartering and to foster trade and commerce. Since then, money has come a long way. No longer do we need to rely on silver coins, cocoa beans, or even anything of intrinsic value to conduct our business; today, we use paper currency, which is convenient and easy to carry around. But slowly, we are moving into the digital age of money, an age in which less of our money is actually tangible and more of it is just data on a computer server. To some, this prospect may seem daunting. However, given the major advantages of electronic money over outmoded paper counterpart, society as a whole should embrace the upcoming era of digital money.
The U.K. uses pounds and the U.S. uses the U.S. dollar. The United Kingdom has a specific symbol to represent the pound as we do for our dollar, the pound symbol is £. Using a converter, one U.K. pound equals about 1.22 U.S. dollars (USD per 1 GBP - Past 24 Hrs.). Therefore, we will have to exchange our money before we leave.
There is one thing that differentiates the international business with the domestic business where it uses more than one currency in the commercial transaction. For example, if a company from British purchases some goods from a company from US, the international transaction will require for exchanging pounds and U.S. dollars which involve the foreign exchange market. In the foreign exchange market, any country that wish to do business with foreign country, the country need to convert their domestic currency into the foreign currency that they are wish to cooperate with through foreign exchange.