British ministers claim euro debate is a red herring
British ministers have today accused the UK press of exposing a potential conflict of interest between the government and the UK population which does not really exist. There has been much comment in the press of late about a possible conversion to the euro even though, by the government own admission, 75% of the UK population is firmly against joining the European currency.
However, the very fact that British ministers have even commented upon the potential debate has caused some concern across the UK. The appointment of Lord Mandelson to Gordon Brown's government was seen as a very pro-European move and one which would in due course see the UK extend ties with the European "state". There has been intense speculation that the weakness in the UK economy would see European counterparts make a serious attempt to draw the UK government closer to the EU.
In many ways the UK is the final hurdle for a European superstate as the country has always been of an independent mind which has long been at odds with many European Union members. Whether the weakness in the UK economy will finally see the country joined the euro and abolish the pound remains to be seen but speculation is increasing in intensity.
Share this..
Related stories
UK GDP shows worst quarterly fall in 30 years
It has been revealed that the UK economy fell by an alarming 1.6% in the final quarter of 2008 which is the worst quarterly fall in 30 years. Initially there were expectations of a 1.5% fall but these figures were revised downwards by the Office of National Statistics after a review of the case data. This is an alarming fall for the UK economy and many people now suspect that the situation will ge...
Read MoreAlistair Darling infuriates German and French governments
Ahead of this week's G-7 summit Alistair Darling has again called for his European counterparts to pull together and take the lead which the US and UK government have taken with regards to bailing out their respective banking systems. While he has not mentioned France or Germany by name, it is widely understood that his comments are aimed at the two European giants who have yet to announce any res...
Read MoreFat Cat pay in the City to be curbed
In what seems like a joint effort by the UK and US authorities it seems as though the so called Fat Cat pay model in the City could well be on the way out. While there is very little they can do from a legal standpoint the authorities have chosen to work from within by taking stakes in some of the weaker UK banks and introducing new salary caps as part of the deal.
It is very much...
Ernst & Young ITEM Club downbeat on UK
The influential Ernst & Young ITEN Club Report has cast doubt on the short to medium term prospects of growth in the UK economy. While this influential association freely admits that the UK is likely to have left the recession in the final quarter of 2009, it believes this trend will not continue because a number of tax innovations and incentives have been taken away from the marketplace. It speci...
Read MoreTesco to offer Sainsbury’s Brand Match to customers
11/04/2016 Tesco has announced that it will offer customers who have valid Sainsbury’s Brand Match money-off vouchers a two month extension to the scheme which is due to end on 26th April. This will mean that any customers who still have the vouchers after they have expired in Sainsbury’s will be able to use them until 30th June in Tesco. Last week Sainsbury’s announced that it woul...
Read More