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88 comments on UK Oil Production Lowest For 28 Years

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Valuethinker on November 6, 2006 - 6:34am Permalink | Subthread | Parent | Comments top
I should add that I don't think the euro in its current form is a long run currency.

Eventually Italy will find a way to exit, and Greece also-- both countries are effectively having their economies strangled by deflation.

I don't think many of the EU25 countries that are not in the Euro (UK, Denmark, Hungary, Poland etc.) are likely to rush to join it-- the ones who would benefit (Hungary) are precisely the ones in the worst fiscal position and break the ECB rules.

The euro will revert to what it always was: a Franco-German currency union, with Benelux (and maybe the Irish and the Spanish) along for the ride.

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expat on November 6, 2006 - 8:03am Permalink | Subthread | Parent | Comments top
Except the euro does bring a lot of benefits for the integrated economies in turn - a manufacturer no longer has to deal with the overhead of currency transactions/risks.

And by now, the banks have gotten used to living without the money they used to be able extract from intra-EU trade, which means that EU wide companies - oh, like Unilever, or VW, or Barilla - find a lot of benefit in the euro.

Whether the euro has a longer term future than the dollar is open, but quite honestly, for the economies within the euro, the negative side is incresinly harder to firmly determine.

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88 comments on UK Oil Production Lowest For 28 Years

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