Author Topic: Euro  (Read 1456 times)

Offline Maniac

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« on: August 26, 2003, 05:56:31 AM »
Hi.

We here in Sweden has to vote on 15 sept if we want to change our currency from the Swedish "Krona" to the "Euro".

I´m currently gonna vote yes...

You Finn´s and Germany people, was the switch to Euro an good thing or bad in your eyes?

Regards.
Warbirds handle : nr-1 //// -nr-1- //// Maniac

Offline _Schadenfreude_

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« Reply #1 on: August 26, 2003, 06:04:34 AM »
Tough one - I believe that cost of living went up hugely in Euroland after the change over - having said that Euro's are great for travelling these days - but I'd keep the Sterling forever personally....

Offline takeda

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« Reply #2 on: August 26, 2003, 06:19:40 AM »
Prices of small things will go up with the roundings, ie. If something was worth 2 Krona, it will go to 25 cents instead of 22. It was even worse here in Spain, because the roundings to get nice "few coins" prices were even more outrageous, something worth 5 pesetas (i.e. little candy bar) went to 5 cents, which is more like 8 pesetas. Kids were pissed.
The government kept saying it wasn't going to be the case, but it was.

Other than that it's great for travelling or comparing prices throughout Europe. The fact that 1 Euro ~ 1 Dollar for fast comparisons also helps.

Most of the people including myself have gotten used pretty fast to everyday small prices, but house or car-buying money is still considered in pesetas in normal conversations.

Offline Duedel

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« Reply #3 on: August 26, 2003, 06:37:26 AM »
IMO it was a great thing. I like the Euro very much cause in most countries u dont have to fool with francs lira etc. but:
I'm still thinking in DM that means when I see a price tag I'm thinking it costs only the half its worth (1,- € = 2,- DM).
Another problem was that with the Euro many items got more expencive (especially food).

Offline beet1e

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« Reply #4 on: August 26, 2003, 07:20:05 AM »
The biggest problem with adopting the Euro is surrendering control of interest rates. Every country which adopts the Euro has to implement a Europe mandated interest rate, currently about 3½%. But look what's been happening in Germany - a recession, and in order to kickstart its economy, Germany really needs a big reduction in interest rates, perhaps to as low as ½%. But saddled with the Euro, it cannot reduce the interest rate - a reduction it badly needs.

I saw what loss of control of interest rates did to Britain between 1989-1992. First we had low interest rates at a time of economic boom. The brakes came off. House prices skyrocketed, borrowing became ridiculously easy - and that was the problem. All the late 80s wealth was perceived wealth. Everything was being bought with borrowed money. Then came the collapse - recession in 92, but interest rates cranked up to 15%!!! Thousands of businesses went bust, and people who had bought houses at high prices with 100% mortgages found themselves in negative equity - even if they sold their house at a much reduced value, they still owed money to the bank and were paying 15% interest on it.

Oh sure, the Euro is convenient for holidays, but I am sceptical to say the least about surrendering control of interest rates.

Offline Maniac

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« Reply #5 on: August 26, 2003, 01:11:51 PM »
Quote
Oh sure, the Euro is convenient for holidays, but I am sceptical to say the least about surrendering control of interest rates.


Ya im aware about this... Somehow i belive that the Euro will make it easier to move around Europe and get work at different locations...

Im all for that...
Warbirds handle : nr-1 //// -nr-1- //// Maniac

Offline beet1e

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« Reply #6 on: August 26, 2003, 01:24:16 PM »
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Originally posted by Maniac
Ya im aware about this... Somehow i belive that the Euro will make it easier to move around Europe and get work at different locations...

Im all for that...
Maniac - It won't make any difference in that respect. Any European passport holder can already relocate and work in any of the other 14 member states. The local currency has no bearing on that.

I can't help thinking sometimes that the single currency was designed to precipitate an economic crisis within Europe, the only way out being introduction of federal taxes and federal grants - and more federal government.

Offline Swoop

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« Reply #7 on: August 26, 2003, 01:26:39 PM »
In Holland......prices went up.  Especially in bars and restaurants.


Offline gofaster

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« Reply #8 on: August 26, 2003, 01:31:07 PM »
Those of us in the USA are glad to hear the Swedes are considering going to the Euro.  Now we just lump you in with the rest of Europe and no longer have to separately call your music and fashion "kronatrash".

Offline Udie

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« Reply #9 on: August 26, 2003, 02:06:45 PM »
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Originally posted by beet1e
the only way out being introduction of federal taxes and federal grants - and more federal government.



 I wonder if some true conservatives will appear in Europe because of this? :)

Offline _Schadenfreude_

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« Reply #10 on: August 26, 2003, 03:02:11 PM »
Only if use of a single currency causes a massive drop in IQ levels....

Offline Frogm4n

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« Reply #11 on: August 26, 2003, 03:12:33 PM »
Ahh conservitism foiled again by the educated masses of europe.

Offline Udie

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« Reply #12 on: August 26, 2003, 03:14:11 PM »
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Originally posted by _Schadenfreude_
Only if use of a single currency causes a massive drop in IQ levels....



 Then you guys are doomed for ever.  You're collective IQ's couldn't drop anymore or you'd be like,  well.... Europeans :D

Offline straffo

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« Reply #13 on: August 26, 2003, 03:50:53 PM »
.
« Last Edit: August 26, 2003, 04:36:29 PM by straffo »

Offline Sixpence

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« Reply #14 on: August 26, 2003, 03:53:11 PM »
Quote
Originally posted by Rude
Explain to me the level of IQ necessary to allow the death of 10,000 citizens in a modern society, due to a heat wave.


It was a freak heat wave, they have never seen anything like it, I don't think they even have air conditioners. Don't forget, we had 400 people in chicago alone die during a heat wave in '95'
"My grandaddy always told me, "There are three things that'll put a good man down: Losin' a good woman, eatin' bad possum, or eatin' good possum."" - Holden McGroin

(and I still say he wasn't trying to spell possum!)