Thursday, December 11, 2008

Get into the Euro

surely the political and economic decision to go into the Euro has now been made.

The deeper in debt you are then the better it is to go into the Euro at something like the existing exchange rate, namely about one to one.

If you had assets or savings then this is terrible for you, because you will get ever lower numbers of Euros for your savings. If only the Tories had fought to get us into the Euro when the rate was favourable for savers, not debtors. I think that this has been another stitch up.

Does nobody care for those pensioners who have retired to the Euro zone who are now being absolutely hammered by the losses they are getting on their monthly pension payments. Mind you if they had bought property then at least they will get more pounds for their Euros if they decide to sll up and return to the wonderful free, democratic country led by the unelected PM who has saved the world.

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