Tuesday, 13 January 2009

10th Anniversary of the Euro

Hello all,

Its been some time since I last posted, so I shall indulge you in some interesting news.
Last week saw and interesting sign written in the snow "No To Lisbon", I naturally was overjoyed to see that we had friends in the Parliament! The reaction among the Pro-Treaty MEP's was even more enjoyable and the display was on the lips of everyone, including the baffled security - who, no doubt, received the wrath of Poettering himself.
This week is more serious, while many of our elected representatives in Strasbourg (UKIP excepted) celebrate the Economy, the reality is somewhat different. We already know that our economy in the UK is suffering thanks to a number of issues concerning the Banking Industry. The same is happening across Europe and the rest of the World. The ECB (European Central Bank) has refused to lower interest rates at the behest of Spain, Italy and Greece, whose economies are unable to survive the downturn, as they are not in control of the interest rates. Something the UK should be thankful for as we are not operating the Euro.
It is already happening, the Panic has begun, with customers in Germany already refusing Southern bank notes, as their value is getting weaker and weaker. Each country prints its own notes according to its economic weight in European Union under strict guidelines from the European Central Bank in Frankfurt. For example, German notes have an “X”‘ at the start of the serial numbers.
By refusing these bank notes, or exchanging them for German ones, the people of Germany have begun something that could be imitated across the Northern sphere of the Eurozone. Resulting in a split economy, as there will be rapid decline of value in Southern states and Northern states having to make-up the shortfall by rearranging interest rates. In my opinion, the end result will be a collapse of the Eurozone, and the ECB will have no choice but to begin a phased withdrawal of the Euro. That is if one of these Countries does not crack first and withdraw from the Euro altogether.
The answer is simple, the Euro has not been a success, but a slow and painful realisation that economic unity and a single currency simply does not work. The fallout has begun, perhaps the 10th Year of the Euro will be one more year too much for many Eurozone Countries. Lets just be thankful Britain is not a part of economic unity.

Its heavy stuff indeed, but the truth nonetheless - We want UK Independence!

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