Should Britain join the Euro?

I used to be strongly in favour of a single European currency, and my partner is from the continent, but after living over there for 3 years, I've completely revised my opinion.

Culturally, Europe is much more socialist and controlling, when compared with the historic British attitude of an island nation based on international trade and financial freedoms, as evidenced by our reputation as one of the best places to conduct international business, and our base as the world's leading financial centre.

Using the old dictum that "he who controls the currency controls the nation", by giving up the national currency, you are also giving up much of the control and handing it to another power, with vested interests of its own.

Fortunately, at this point in time, most Britons realise this and are opposed to the single currency. We all know this, so why even bother going to the expense and hassle of a referendum?

Pound in freefall, but the dollar hides it

I must admit that I have been worried about the Pound for some time, what with the trade deficit, budget deficit and now the Northern Rock crisis.

Actually, the trade deficit bothers me least of the problems, as Britain has a large reputation for investing abroad. The others are not so good. especially the Northern Rock crisis, since the implication is the government have magically created the necessary backup reserves out of thin air (is there any other method?)

Now, I notice that in the past couple of months, the Pound has dropped about 6% against the Euro and Danish Krone. This has hardly got a mention, as all the media are going on about the weakening Dollar and the bargains available for those taking a shopping trip to the USA.

So please, Germany and Holland, don't give in to whingeing France and Italy about needing a weaker Euro, and the usual rubbish about generating exports. A devalued currency helps no-one long term.

If it carries on like this, the Euro could become the world's new reserve currency, especially for pricing oil, at least until China is ready to claim its spot.

Just a thought.

As for me, I'm off to browse the internet for some bargains from Britain...