Why does ireland use the euro as its currency and the uk does not use it?

Question

Think about it, the euro did wonders to irelands economy, they have one of the highest standards of living in europe and the whole world.

I think if the uk adopts the euro, it will have the same effect as it did in irelands economy.

Tell gordon brown that we need the euro. It will make our economy run better. We do not need the pound anymore.

We need to raise support for the euro. I wanna see the pound go and the euro to be our currency in the next 5-7 years. Trust me, it will be beneficial to our economy

Answer 1

Maybe, but the UK is generally slow to change what seems to be working already. Hopefully Gordon Brown will change this.

Answer 2

Actually, Ireland's position in the world economy was achieved through fiscal and political developments starting in the 1980's.



The Euro and ECB has insured stability that the Irish Central Bank could have not.



It has made trade and travel with other Euro members so much easier. For example, for tourism I'd rather go to a country with the Euro than one without, even if they don't speak English. Changing money is expensive and really too inconvenient.



In terms of small businesses, it makes finding a supplier from another country really easy as comparing costs is simplier.



The UK like Ireland is a nation of small business providing services. The Euro has helped that. And it has been great for consumers since price comparisons are a snap.

Answer 3

The UK is not interested to have Economic Union. At least with the Germans. There is a loss of control over its profitable usury business. Moreover, the idea of the pound as a local currency to trade gold was always an issue.



Economic Union would mean lots of disincentives for English companies as it represents a lack of control over monetary issues for the benefit of the UK.

Answer 4

i dont think they are ready for change