Euro-oughta Know Some More

If you are doing business with a country which uses the euro, you won’t know exactly how much money you will pay for something (or receive) because the exchange rate between the pound and the euro is constantly changing. So, one day the products you are selling might be very good value in euro, but the next day they could suddenly become expensive. This makes it very difficult for businesses to plan for the future. The banks have advanced financial tools that can guarantee businesses a set exchange rate - but, of course, they charge for this! There is also the cost of exchanging money... The banks sell foreign currency at a higher price and buy at a lower price. Have a look next time you walk past a bureau de change! So, by having the euro in Britain, there would be no cost or uncertainty of exchanging money... it will also mean that you won’t need to change your pocket money into euro when you go on holiday to Spain or other countries in Europe with the euro - and you will not have annoying little coins leftover either!

But you’ll also have a mix match of other countries in the Euro who are not as strong as the UK financially. These countries’ earnings and spending are completely different from the UK’s and this would cause huge pressure on us to keep bailing them out. Which is what is happening in Greece and Spain right now.

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