John Stevens: The UK will soon be forced to rethink joining the Eurozone | Comment is free | guardian.co.uk
How the Euro is gaining currency As the credit crunch bites harder, joining the Euro may prove not just economic wisdom but simple self-preservation for the UK All comments (0) John Stevens guardian.co.uk, Monday October 06 2008 19:30 BST Article history If one wanted a definitive measure of the anti-European bias of our financial commentators, it has been the exaggerated reaction to present uncertainties over national government bank support schemes within the European Union. Of course, the current competitive bailouts are highly undesirable, as the reaction of the markets has shown. They should and will, doubtless, be replaced by a more coherent and coordinated approach, not least as a result of the fallout we have seen. There is no alternative to this.
If one wanted a definitive measure of the anti-European bias of our financial commentators, it has been the exaggerated reaction to present uncertainties over national government bank support schemes within the European Union. Of course, the current competitive bailouts are highly undesirable, as the reaction of the markets has shown. They should and will, doubtless, be replaced by a more coherent and coordinated approach, not least as a result of the fallout we have seen. There is no alternative to this.
What about Switzerland? "Dieu se rit des hommes qui se plaignent des conséquences alors qu'ils en chérissent les causes" Jacques-Bénigne Bossuet
But under the Danish EMU-II½ membership, the Bundesbank ECB guarantees our currency anyway.
- Jake If you only spend 20 minutes of the rest of your life on economics, go spend them here.
