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  1. #1
    lurker Member JR-'s Avatar
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    Default Re: Re : Great Britain is not an Island

    Quote Originally Posted by Sarmatian View Post
    Exporting benefit of inflation is overrated. Sure it's there, but quite limited, it's beneficial between let's say 1-3%, depending on the circumstances. Over that cons far outweigh the pros. But let's say it's beneficial, doesn't matter how high. It will make British goods cheaper on the continent, thus stimulation British exports but at the same time it will make continental goods more expensive in Britain, and you're importing more from Germany then you're exporting to Germany, same with France, Netherlands, Belgium etc...

    I think in the long run it would be beneficial for UK to switch to euro. It's not like British economy is going to collapse if it doesn't but holding on to something because of conservatism or national pride when other option offer practical benefits isn't the best way to go.
    against the damage euro harmonisation will cause to the competitive advantage of our financial sector?

    the financial sector in the city of london brings in to the exchequer nearly one third of corporation tax tax from the whole of the UK.

    you can just see how happy frankfurt and paris would be to see london adopt the same financial regulations as the rest of the continent.
    Last edited by JR-; 11-26-2008 at 10:37.

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