skybluetony176
Well-Known Member
Of course their export market is double ours. They’ve had 19years of taking advantage of (in your words) a devalued currency. Again in your words we’re benefiting from a devalued currency. What you’re basically saying is that our mistake was not joining the Euro 19 years ago and taking advantage of it like Germany. How much has our manufacturing base declined over the last 19 years? That’s surely damaged our export growth and according to you we can now take advantage of a devalued pound to grow our export market and a consequence of that has to be a growth of the manufacturing sector.Er no because Germany have huge trading advantages in the EU and their exports exceed £400 billion - I think ours is around half that. It in effect controls the European banks and operates a negative interest policy.
It is a typical example of the way Europe operates. It’s chief controller in Germany reaps significant benefits from the fiscal policy and at the same time allows basket case economies to prop themselves up on subvented borrowing rates.
Countries that end up getting a pounding are the middle ground who can’t compete with German dominance and at the same time prop up joke economies who subscribe to the currency.
The irony is that no one has ever sold me the idea of joining the euro regardless of how pro euro they are. It’s taken someone anti EU and anti euro to make it attractive.