p_p_man
The 'Euro' European
- Joined
- Feb 18, 2001
- Posts
- 24,253
Copied from REDWAVE's post on the police thread.
Hey, ppman, what do you think about the Maastricht criteria? Any thoughts on the topic? Hell, you have opinions about everything else!
I have no problems with the criteria. The UK has had a steady economy for a few years now. Gordon Brown as Chancellor of the Exchequer has done an excellent job at keeping things on an even keel, even though he has a tendency to exaggerate at times!
The UK met all points of the Maastricht criteria some time ago but, politically, joining the single currency is still a hot potato.
That's why a referendum will not be held until the Chancellor's Five Economic Tests have been met. As you can see they are basically a nonsense, for instance who the hell cares about the impact on the financial services industry joining the EMU will have, especially with pension scandals springing up all over the place.
But the 5 points do put the date we join firmly in the Government's hands. Once it thinks the population is ready, the Five Economic Tests will be declared met, a referendum will be held and we'll be in.
Where we should be.
"As the Chancellor said in his October 1997 statement, the Five Economic Tests will define whether a clear and unambiguous case can be made. The Five Tests are:
sustainable convergence between Britain and the economies of a single currency;
whether there is sufficient flexibility to cope with economic change;
the effect on investment;
the impact on our financial services industry; and
whether it is good for employment."
ppman
Hey, ppman, what do you think about the Maastricht criteria? Any thoughts on the topic? Hell, you have opinions about everything else!
I have no problems with the criteria. The UK has had a steady economy for a few years now. Gordon Brown as Chancellor of the Exchequer has done an excellent job at keeping things on an even keel, even though he has a tendency to exaggerate at times!
The UK met all points of the Maastricht criteria some time ago but, politically, joining the single currency is still a hot potato.
That's why a referendum will not be held until the Chancellor's Five Economic Tests have been met. As you can see they are basically a nonsense, for instance who the hell cares about the impact on the financial services industry joining the EMU will have, especially with pension scandals springing up all over the place.
But the 5 points do put the date we join firmly in the Government's hands. Once it thinks the population is ready, the Five Economic Tests will be declared met, a referendum will be held and we'll be in.
Where we should be.
"As the Chancellor said in his October 1997 statement, the Five Economic Tests will define whether a clear and unambiguous case can be made. The Five Tests are:
sustainable convergence between Britain and the economies of a single currency;
whether there is sufficient flexibility to cope with economic change;
the effect on investment;
the impact on our financial services industry; and
whether it is good for employment."
ppman