The pound and the euro have reached parity. We're now in a situation where you can read a price tag in Europe and know that the number is the same as the price in sterling. Imported foods in the supermarket are expensive, as the pound buys so little abroad.
The economy is in a bad situation. At this moment, with complete confidence and conviction, all the europhiles can say to the eurosceptics "Told y'so! If we'd had the euro then we would be better off!" (of course, ignoring the fact that markets go up AND down, but when do facts get in the way of political debate? )
That doesn't worry me, to be honest. However, the govt may take now as a good time to push us into the Euro, with promise of stability and more money in your pocket.
If this happens, I can see one of two outcomes in the near future:
1) If we convert all costs at the going exchange rate, then the UK labour force is now the cheapest in western Europe, and cheaper than most of Eastern Europe. Good for jobs, cheap housing, prosperity. Doesn't fulfill the "white collar nation" dreams of Nu L8br (is that how they spell it?) but it puts food on the table.
2) We remain in the slump we are in, and we become a reminder to the East Bloc of their bleaker past where you have to queue for a loaf of bread and can't buy toilet paper without a proper permit.
The economy is in a bad situation. At this moment, with complete confidence and conviction, all the europhiles can say to the eurosceptics "Told y'so! If we'd had the euro then we would be better off!" (of course, ignoring the fact that markets go up AND down, but when do facts get in the way of political debate? )
That doesn't worry me, to be honest. However, the govt may take now as a good time to push us into the Euro, with promise of stability and more money in your pocket.
If this happens, I can see one of two outcomes in the near future:
1) If we convert all costs at the going exchange rate, then the UK labour force is now the cheapest in western Europe, and cheaper than most of Eastern Europe. Good for jobs, cheap housing, prosperity. Doesn't fulfill the "white collar nation" dreams of Nu L8br (is that how they spell it?) but it puts food on the table.
2) We remain in the slump we are in, and we become a reminder to the East Bloc of their bleaker past where you have to queue for a loaf of bread and can't buy toilet paper without a proper permit.