The euro found almost no defenders. Voters rejected adoption overwhelmingly, and the Yes side's best-rated case was less an argument for the single currency than a shrug about it.
That Yes case, the most-respected on its side, asked only whether the money would buy what a voter needs: “Will it buy me what I need to buy and will be the same value or greater?” Another Yes voter argued that adoption would come as part of rejoining the EU, since “we won’t get a choice”.
The No side argued from control. Its most-respected case said the UK would “lose control over fiscal policy”. Others fixed on interest rates and the European Central Bank, and one raised taxpayers funding bailouts for other countries. One voter mocked the idea of “Harness our economy to slow-growth Europe?”, while another pointed to sterling's recent 16-month high.
The argument is partly about history. Two No voters credited Gordon Brown with keeping Tony Blair out of the euro, and the Thatcher “No! No! No!” was invoked as a precedent. A few No voters left a door ajar, saying the answer might change if the UK rejoined the EU, which sits oddly beside a Brussels agenda that leaves the currency off the table.
The Yes side asked whether anyone cares whose head is on the money; the No side answered with interest rates, bailouts and fiscal control.
50 Opinions
Of course not. The pound is a stronger currency and let's us carry out independent policy. If we get sucked into the Euro, we will lose control over fiscal policy.
No. There are lots of reasons why we should definitely not adopt the Euro. From not being able to set our own interest rates, British taxpayers having to fund bailouts for other struggling EU countries, to a loss of fiscal independence, to name just a few. Margaret Thatcher was right when she said "No! No! No!"
EU is collapsing under the mass of its contradictions. Many EU countries are about to elect Right wing governments who want to exit this failed authoritarian Communist structure. The fiscal benefits of Sterling give UK economy flexibility as it’s proved impossible for single currency to be appropriate for so many diverse economies & beneficiaries have essentially been France & Germany. Why are Remainers obsessed we are run by a non elected corrupt left wing elite who hate UK?
No, No, No…why would we sacrifice financial sovereignty to the European Central Bank? Although I can see it might be a condition if we suffer a sovereign debt crisis and have to go to ECB or IMF for a bailout.
Absolutely not ! There is no need and no justification to change to a failing currency or any other currency but it would be worse in the case of the Euro which is controlled by the unelected.
No we are NOT part of the euro zone we should control our own currency and borders
Micro-level gains: - lower frictions - transparency - trade/investment Macro-level costs: - loss of policy flexibility to the ECB's one-size-fits-all monetary policy - the exchange rate as a shock absorber grok: "Empirical evidence on the net growth effect of euro membership for larger or more divergent economies has often been modest or mixed, while the eurozone crisis illustrated real costs for non-core members."
Leaving the EU but then joining the Euro would be pretty on brand for stupidity of UK politics.
Harness our economy to slow-growth Europe? Our economy doesn't move in lockstep with Europe and this would be a disaster. All the countries that adopted it faced a long period of slow growth.
Europe would be better adopting the pound!! Wee Mr Macron !!