[Anonymous]

[BeckyBoop]

I was reading an article on britain joining the euro on the bbc website, now i am no geek and no thing about how the euro works and always made to think the euro is bad, but it made me think would it be better for britsh airlines, trains, bus companies and passengers if we did? could it bring down the cost of travel..any thoughts? xx

[RichHI1]

Ignoring the politics, the biggest currency issue airlines face is that Fuel is priced in Dollars. Whilst they buy forward to try to cover risk on oilr price increases and Cable (UKL-USD) movement, I think the exposure to USD/UKL movement drives costs rather than the euro. Airlines after all issue tickets in Euros and all the other world currencies already converting to their own IATA currency. I do not see it hurting them or helping them but perhaps airlines who only fly in the euro area might have some simplification (flybe?).
I suspect Bus and Train companies would face a substantial set up cost adjusting fare machinery to take the different coins and notes.

[Bucksnet]

Oh dear god no!

The euro is all about control, and the contrived financial ‘crisis’ in the eurozone has all been planned. Increased EU integration is made easier when ‘the only possible option’ is common taxation, common treasury etc. This is the end game.

The new PMs in Greece and Italy are only the start. They are both ex-Goldman Sachs bankers and are working for the banks/DVD/ECB/EU not the population of their countries. They are basically just regional governors and would not have got the job unless they were juiced in. Totally undemocratic.

We’ve been repeatedly told we would get a referendum before we ever joined the euro, but I doubt we will.

http://www.independent.co.uk/news/business/analysis-and-features/what-price-the-new-democracy-goldman-sachs-conquers-europe-6264091.html

[MartynSinclair]

If the UK joined the Euro, would that mean we could recieve a multi billion pound ……….. oooopppsssssss, a multi billion Euro bailout too, that could be written off with no need to repay. If so, yep, lets apply now.

G-d forbid a multi billion times, we lose Sterling.

Is there any currency other than sterling that would benefit the UK economy if it were to change………………?

[DisgustedofSwieqi]

Hi Becky

UK passengers would save money when travelling in the euro zone, I know that I do compared to the old days of paying the banks to change my currency, every time.

[Bullfrog]

Open a Euro account .. a current ‘currently’ accepted in most of Europe.

Stocking up in 2007 when the rate was 1.47 has proven a wise decision, and the cash withdrawal card allows access in every country that ‘currently’ uses the €.

[RichHI1]

Disgusted, It could of course cost you more if the Euro were to continue downwards (no guarantee the pound won’t tank with this government though)

[LuganoPirate]

Nice thought provoking thread Becky.

I don’t think it would make travel any cheaper since the biggest cost factor airlines have is fuel.. This is priced in US$ so if the € continues to devalue the cost in euro terms will rise and we will have to pay more.

If on the other hand sterling appreciate re the dollar, we should, theoretically at least, pay less.

Not just that, but for the Euro to work you need political, economic and fiscal union, without that it becomes another monetary union doomed to fail like all previous monetary unions.

Merkel is now pushing for fiscal union among the eurozone members so everyone can pay high rates of german tax. This will not work either though perhaps its the first step towards full political and economic union.

The result will be that capital will go(as it must to solve this crisis) from the richer North to the poorer South making the North (including GB) poorer in the process, so even if there were any savings to be had we could not afford to take advantage of them.

So from me, a definite NO!!!

[DisgustedofSwieqi]

Rich

“Disgusted, It could of course cost you more if the Euro were to continue downwards (no guarantee the pound won’t tank with this government though)”

My comment is based on current fx rates.

But bearing in mind that the fx rate was 62p to 1 eur in 2002 and is now 85p to 1 eur, there is some way to go.

[Bucksnet]

LuganoPirate is correct. Every monetary union in history has collapsed, unless there has been fiscal and political union as well.

This is what the euro is all about, as with the entire EU plan – a long term strategic entrapment operation.

Will we get the referendum we’ve been repeatedly promised, or will ‘they’ pull a major economic ‘crisis’ out of the hat as an excuse not to.

[Author]

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