In These New Times

A new paradigm for a post-imperial world

Joining euro would help protect our jobs

Posted by smeddum on October 6, 2009

Monday, October 05, 2009,

Thisisexeter

I HOPE that other readers have noticed the exchange rate between the glorious wonderful pound and the awful dreaded euro.

We could have gone into the euro a few years ago when the exchange rate was about 1.60 to the £1, which meant that if you had a pension of £10,000 per annum you would have got a pension of 16,000, same with your savings and so it would appear that a person or government in credit would benefit. However, many people are not in credit, the Government is hugely in debt, and was. The debtor with a debt of £10,000 would have had a debt of 16,000, not a happy bunny at all.

So, to the situation now. The pound at par or close to parity with the euro, one for one. So if you now have a pension of £10,000 you will get 10,000, if you have savings you will get 10,000. But if you owe money, magically at the current rate the debtor would no longer have a debt of 16,000 they would only have one of 10,000. The same with government debt.

My point is to say that it will not be long before the powers that be come along and say it really would be better to go into the euro. It’s a stable currency and your debt would be less than it was a few years ago. Don’t take any nonsense from the prudent and creditors, we need the strength of the euro to protect British jobs and the Britons who now have holiday homes in the euro zone.

I think that for the future prosperity of Britain it is time to forge a real Britain in Europe. It really is time to join the euro.

T. A Griffin

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