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Breakingviews: UK Should Join the Euro

Monday, February 04, 2013 - 04:17

Feb. 4 - If prosperity is what David Cameron is after he should be moving towards joining the single currency, argues Reuters Breakingviews, not quitting the trading bloc altogether.

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UK prime minister David Cameron has dismissed behind their leading the UK into the Euro zone but -- the economics. I'll use the opposite according to Reuters breaking views side -- Cameron by the way talking the talk on remaining a keeper -- your. I want the European Union to be a success. And I want a relationship. Between Britain and the European Union that keeps us in his right to expect Mike Cameron should area. Is a Reuters breaking news economic centers that would how to -- this is -- A bold peace. Is to say Belize and the realistic he -- Yeah they shouldn't quit the EU nation joining Europe that I just just take -- -- look up the background thinking to. It's -- right well. As as we just -- Camera on wants to be European and his good economic reason for wanting to be so half of the trade and he. UK's roughly with is is with the Euro is and the regulation holes and economic and financial. Core of the country is very closely tied to the euros and and the reasons that were given ten years ago for not turning years and members Gordon Brown commission to study fives things. 55 tasks I should fail in the litmus test memory exactly be OK well we passed that that is the task we set the other way. I'm -- does the Euro -- -- the UK economy the answer is yes yes yes yes yes yes and is this is just obvious. And then what I I -- is that there would be six test if you did today which could be. Does that staying alone with 3% of the world's GDP. Make any sense anymore and the answer there is of course it doesn't. You would want to be -- be part of a much larger economic group to retain the UK's status in the world. Yeah you -- -- -- as you go through the five tests economic emergence flexibility investment financial services. Growth and stability from. -- -- through your argument or let's look for awhile let's face it -- the UK government also sees it when it looks down this list. I am and takes an awful crosses an office that -- They they probably view. I'm sure chancellor. Osborne is not a foolish man be conceived through that. The problem here is that the economics and politics point in two different directions particularly the Conservative Party politics in the UK where this is this rump of the country. Who all vote conservative or will want to vote conservative who think that the UK should not be part of the years ahead. And politically. The government has decided to be as distant as possible from the Europe European consensus including this referendum including. Taking the Conservative Party out of the sensible group and that in the EU. And I just think it's important to remember. That this is economic concepts it may make political sense and -- cultural sense I'm not debating that question. But in terms of the prosperity. And prospects. The UK economy. To sit there and say well we would be better off outside of the year is and perhaps there was a case that was true in 2003 now just a longer just to think we'll talk more mountainous and and -- peace in the in the the sort of thing -- -- -- -- -- -- -- it. I I hope so I hope that. As as the over long stagnation of the UK economy continues. That people will say wait our model really really isn't working perhaps we will do better to join the somewhat less unsuccessful. You know. Most of things in proof from. Then Purdue would be put to one side again if if the UK has a miraculous recoveries that makes it look like through the leading country in Europe again and then I'll have to reconsider but I'm not too worried about that all right. -- thanks very much indeed I'm this piece of course you read on the breaking news out website out of course the Royce is while. That is that my thanks redwood how to sophomore agenda setting aside what's the US show every day -- studies the 1730 GMT. -- -- -- resources.

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Breakingviews: UK Should Join the Euro

Monday, February 04, 2013 - 04:17

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