Regardless of butthurt feelings on either side, it can’t happen. The EU doesn’t do special treatments anymore, so Britain would be forced to adopt the Euro, and would not benefit from any of the special “opt-out” clauses it had negotiated before leaving. This is unacceptable to everyone who voted for Brexit, as well as to the moderate pro-Europe crowd. i.e. completely politically untenable.
For better and (mostly) for worse, Britain will spend the next few decades isolated on the European level. Best case scenario would be, in a decade or two, for the UK to join the EEA, but that’s still a huge downgrade in every way compared to full membership as British companies would be subject to all the rules of the European Single Market without getting a vote in any of them, in exchange for getting access back to the EU market.
Just wait until the next currency crisis hits and the Pound falls below Euro parity. Since the introduction of the Euro in 2000 the Pound has already lost almost 30% of its value in a direct comparison and could not recover since the Brexit vote.
Regardless of (arguable) merit, the UK will never switch to the Euro. For all that the British Empire has fallen from glory, the GBP is over 1200 years old which makes it the oldest currency still in use, and it is still a respected & stable currency.
They would never get rid of it for a currency controlled by the ECB, it would be political suicide to even propose such a thing.
The name is 1200 years old. But the pound of the 800s was only similar to now in name. Not just decimalization. But we were on the gold standard then. Heck, even pence has changed to new pence.
In the unlikely event, we are ever willing and welcome to join the EU again. If we are forced to accept the Euro. The EU is very likely to allow us to print our own. And name it as we like. So options can exist.
As or it being ECB controlled. The idea that any nation has full control over its currency is becoming less logical. As decisions by other nations have too much effect. Back in empire days when the UK had the buying power to effect other nations. The logic existed. But now the events in the US more and more so ECU nations and china. Effect the value of our currency more than actions BOE. Heck, even PM lettuce head was unable to change its value as much as US bank investments in 2008.
If our buying power continues to drop. There will eventually become a point where the idea of a larger group of nations buying power will appeal. More so as the generation raised in EU membership becomes the elderly voters of today.
Regardless of butthurt feelings on either side, it can’t happen. The EU doesn’t do special treatments anymore, so Britain would be forced to adopt the Euro, and would not benefit from any of the special “opt-out” clauses it had negotiated before leaving. This is unacceptable to everyone who voted for Brexit, as well as to the moderate pro-Europe crowd. i.e. completely politically untenable.
For better and (mostly) for worse, Britain will spend the next few decades isolated on the European level. Best case scenario would be, in a decade or two, for the UK to join the EEA, but that’s still a huge downgrade in every way compared to full membership as British companies would be subject to all the rules of the European Single Market without getting a vote in any of them, in exchange for getting access back to the EU market.
Britannia waives the rules.
This must be the most underrated pun I’ve seen on Lemmy.
Spoiler: a play of Britannia rules the waves which was a common saying a hundred years ago
I can’t take credit for it, sadly.
Just wait until the next currency crisis hits and the Pound falls below Euro parity. Since the introduction of the Euro in 2000 the Pound has already lost almost 30% of its value in a direct comparison and could not recover since the Brexit vote.
Regardless of (arguable) merit, the UK will never switch to the Euro. For all that the British Empire has fallen from glory, the GBP is over 1200 years old which makes it the oldest currency still in use, and it is still a respected & stable currency.
They would never get rid of it for a currency controlled by the ECB, it would be political suicide to even propose such a thing.
The name is 1200 years old. But the pound of the 800s was only similar to now in name. Not just decimalization. But we were on the gold standard then. Heck, even pence has changed to new pence.
In the unlikely event, we are ever willing and welcome to join the EU again. If we are forced to accept the Euro. The EU is very likely to allow us to print our own. And name it as we like. So options can exist.
As or it being ECB controlled. The idea that any nation has full control over its currency is becoming less logical. As decisions by other nations have too much effect. Back in empire days when the UK had the buying power to effect other nations. The logic existed. But now the events in the US more and more so ECU nations and china. Effect the value of our currency more than actions BOE. Heck, even PM lettuce head was unable to change its value as much as US bank investments in 2008.
If our buying power continues to drop. There will eventually become a point where the idea of a larger group of nations buying power will appeal. More so as the generation raised in EU membership becomes the elderly voters of today.