# Why won't the UK adopt the Euro? **URL:** \ **Category:** Factual Questions\ **Created:** [February 21, 2008, 1:21pm UTC](https://boards.straightdope.com/t/why-wont-the-uk-adopt-the-euro/438549 "2008-02-21T13:21:58Z")\ **Posts on this page:** 20\ **Page:** 1
**Author:** ![Winston\_Smith](https://avatars.discourse-cdn.com/v4/letter/w/e95f7d/32.png) [@Winston\_Smith](https://boards.straightdope.com/u/Winston_Smith)\ **Post date:** [February 21, 2008, 1:21pm UTC](https://boards.straightdope.com/t/why-wont-the-uk-adopt-the-euro/438549/1 "2008-02-21T13:21:58Z")
For economic reasons? If so, why be part of the EC? Is it a matter of national pride? I read somewhere that the pound has a 900+ year run. ---
**Author:** ![TheLoadedDog](https://avatars.discourse-cdn.com/v4/letter/t/35a633/32.png) [@TheLoadedDog](https://boards.straightdope.com/u/TheLoadedDog)\ **Post date:** [February 21, 2008, 1:24pm UTC](https://boards.straightdope.com/t/why-wont-the-uk-adopt-the-euro/438549/2 "2008-02-21T13:24:56Z")
Because it would require a _massive_ reworking of Cockney slang. Who’s going to pay for that, eh? ---
**Author:** ![Myglaren](https://avatars.discourse-cdn.com/v4/letter/m/f1d935/32.png) [@Myglaren](https://boards.straightdope.com/u/Myglaren)\ **Post date:** [February 21, 2008, 1:33pm UTC](https://boards.straightdope.com/t/why-wont-the-uk-adopt-the-euro/438549/3 "2008-02-21T13:33:41Z")
Excellent response there\*\* Mr. Dog\*\*. It baffles me too, it would make things so much simpler for us UK residents and for visitors to these shores, presuming there still are some. It is the same as the resistance to metrication of some items while others MUST be sold in metric amounts. Too silly for words. Monty Python is probably behind it. _ETA_ We have coffee machines at work that are priced in €uros. Do they accept €uros? What do you think? ---
**Author:** ![wolfstu](https://avatars.discourse-cdn.com/v4/letter/w/d6d6ee/32.png) [@wolfstu](https://boards.straightdope.com/u/wolfstu)\ **Post date:** [February 21, 2008, 1:36pm UTC](https://boards.straightdope.com/t/why-wont-the-uk-adopt-the-euro/438549/4 "2008-02-21T13:36:08Z")
One issue I’ve heard about, the importance of which I’m not in a position to guage, is that the UK apparently still lets some private banks issue pound notes. The Euro is only supposed to be issued by national central banks, so this practice might have to end. ---
**Author:** ![One\_And\_Only\_Wanderers](https://avatars.discourse-cdn.com/v4/letter/o/838e76/32.png) [@One\_And\_Only\_Wanderers](https://boards.straightdope.com/u/One_And_Only_Wanderers)\ **Post date:** [February 21, 2008, 1:40pm UTC](https://boards.straightdope.com/t/why-wont-the-uk-adopt-the-euro/438549/5 "2008-02-21T13:40:22Z")
Also doesn’t going in to the Euro mean that the Exchequer loses some control of the economy? Interest rates etc being decided in Brussels with a view to the state of the economy of Europe as a whole, and tough if that happens to be bad for the UK? ---
**Author:** ![carnivorousplant](https://sea3.discourse-cdn.com/straightdope/user_avatar/boards.straightdope.com/carnivorousplant/32/3563_2.png) [@carnivorousplant](https://boards.straightdope.com/u/carnivorousplant)\ **Post date:** [February 21, 2008, 1:45pm UTC](https://boards.straightdope.com/t/why-wont-the-uk-adopt-the-euro/438549/6 "2008-02-21T13:45:48Z")
Does it have anything to do with Winston Churchill saying, “I did not become the Queen’s Prime Minister to oversee the dissolution of the British Empire”? 🙂 ---
**Author:** ![Winston\_Smith](https://avatars.discourse-cdn.com/v4/letter/w/e95f7d/32.png) [@Winston\_Smith](https://boards.straightdope.com/u/Winston_Smith)\ **Post date:** [February 21, 2008, 1:51pm UTC](https://boards.straightdope.com/t/why-wont-the-uk-adopt-the-euro/438549/7 "2008-02-21T13:51:58Z")
[QUOTE=One And Only Wanderers] Also doesn’t going in to the Euro mean that the Exchequer loses some control of the economy? Interest rates etc being decided in Brussels with a view to the state of the economy of Europe as a whole, and tough if that happens to be bad for the UK? [/QUOTE] I believe that’s the exact reason to adopt it - that it ties the currency to the rest of Euroland, which in turn should benefit the overall trade strength of members. The more Euroland members, the stronger the Euro, right? I should think it would be “_in for a penny, in for a pound_” (yes, I know). ---
**Author:** ![Otto](https://avatars.discourse-cdn.com/v4/letter/o/bbe5ce/32.png) [@Otto](https://boards.straightdope.com/u/Otto)\ **Post date:** [February 21, 2008, 1:53pm UTC](https://boards.straightdope.com/t/why-wont-the-uk-adopt-the-euro/438549/8 "2008-02-21T13:53:00Z")
[QUOTE=carnivorousplant] Does it have anything to do with Winston Churchill saying, “I did not become the Queen’s Prime Minister to oversee the dissolution of the British Empire”? [/QUOTE] And that certainly worked out swimmingly. ---
**Author:** ![GorillaMan](https://avatars.discourse-cdn.com/v4/letter/g/50afbb/32.png) [@GorillaMan](https://boards.straightdope.com/u/GorillaMan)\ **Post date:** [February 21, 2008, 2:02pm UTC](https://boards.straightdope.com/t/why-wont-the-uk-adopt-the-euro/438549/9 "2008-02-21T14:02:26Z")
[QUOTE=One And Only Wanderers] Also doesn’t going in to the Euro mean that the Exchequer loses some control of the economy? Interest rates etc being decided in Brussels with a view to the state of the economy of Europe as a whole, and tough if that happens to be bad for the UK? [/QUOTE] Yes, this is one of the two main reasons. The other is the John Bull island mentality, with its suspicion of all things foreign, especially if they’re French or German. ---
**Author:** ![ianzin](https://avatars.discourse-cdn.com/v4/letter/i/ed655f/32.png) [@ianzin](https://boards.straightdope.com/u/ianzin)\ **Post date:** [February 21, 2008, 2:05pm UTC](https://boards.straightdope.com/t/why-wont-the-uk-adopt-the-euro/438549/10 "2008-02-21T14:05:43Z")
It’s a rare case of our politicians actually paying heed to public opinion and responding to it (they typically do neither). Irrespective of the logical arguments forand against, there is tremendous _popular sentiment_ in favour of retaining the pound. It is seen as (a) being in some mythical way an intrinsic aspect of our tradition and identity and (b) an effective ‘get lost’ to the faceless Euro-crats in Brussels, and a way of demonstrating that they can’t make us all conform, all the time, to their will. The fact that the pound has, for quite a long time now, been a strong and robust currency, is seen as lending weight to the ‘keep the pound’ brigade’s arguments. When Tony Blair was courting power, the issue of whether he would ‘scrap the pound’ came up repeatedly in the popular press. He said that both he and his ‘iron chancellor’ Gordon Brown would only ever adopt the euro if certain economic conditions were met, and if the House of Commons voted in favour. This was effectively a way of saying it would happen when hell freezes over and Elvis becomes Pope, since there’s just no enthusiasm for the idea among most voters. ---
**Author:** ![GorillaMan](https://avatars.discourse-cdn.com/v4/letter/g/50afbb/32.png) [@GorillaMan](https://boards.straightdope.com/u/GorillaMan)\ **Post date:** [February 21, 2008, 2:10pm UTC](https://boards.straightdope.com/t/why-wont-the-uk-adopt-the-euro/438549/11 "2008-02-21T14:10:59Z")
[QUOTE=ianzin] When Tony Blair was courting power, the issue of whether he would ‘scrap the pound’ came up repeatedly in the popular press. He said that both he and his ‘iron chancellor’ Gordon Brown would only ever adopt the euro if certain economic conditions were met, and if the House of Commons voted in favour. [/QUOTE] IIRC a referendum was also part of the deal? ---
**Author:** ![Winston\_Smith](https://avatars.discourse-cdn.com/v4/letter/w/e95f7d/32.png) [@Winston\_Smith](https://boards.straightdope.com/u/Winston_Smith)\ **Post date:** [February 21, 2008, 2:27pm UTC](https://boards.straightdope.com/t/why-wont-the-uk-adopt-the-euro/438549/12 "2008-02-21T14:27:44Z")
[QUOTE=ianzin] He said that both he and his ‘iron chancellor’ Gordon Brown would only ever adopt the euro if certain economic conditions were met, and if the House of Commons voted in favour. [/QUOTE] Do you recall any particulars? ---
**Author:** ![Winston\_Smith](https://avatars.discourse-cdn.com/v4/letter/w/e95f7d/32.png) [@Winston\_Smith](https://boards.straightdope.com/u/Winston_Smith)\ **Post date:** [February 21, 2008, 2:29pm UTC](https://boards.straightdope.com/t/why-wont-the-uk-adopt-the-euro/438549/13 "2008-02-21T14:29:07Z")
[QUOTE=GorillaMan] IIRC a referendum was also part of the deal? [/QUOTE] Indeed, I would like to see the referendum if someone can provide a cite/site. ---
**Author:** ![jjimm](https://avatars.discourse-cdn.com/v4/letter/j/ba8739/32.png) [@jjimm](https://boards.straightdope.com/u/jjimm)\ **Post date:** [February 21, 2008, 2:35pm UTC](https://boards.straightdope.com/t/why-wont-the-uk-adopt-the-euro/438549/14 "2008-02-21T14:35:55Z")
I am largely pro-euro, but I understand the economic argument against it. UK politicians are terrified of inflation. The ECB interest rate is set across the erozone as a whole, which averages between the successful economies and the backwaters. The effect is that the ECB base rate is usually 0.5% - 1% lower than that of the Bank of England. At the moment the BoE rate is 5.25%, whereas the ECB is 4%. If the UK were to join the eurozone, then we would have to join the ECB rate, and inflation in the UK would skyrocket, as it is in successful places like Ireland, _and_ the one-off euro price obfuscation effect would also kick in (namely, retailers round up to the new currency, not down, sometimes egregiously). The pro-euro argument is that the strength of the UK economy would bias the ECB in favour of higher rates, but I don’t think there’s enough of a guarantee about that, and the result would still be a compromise to a lower rate. ---
**Author:** ![Szlater](https://avatars.discourse-cdn.com/v4/letter/s/90ced4/32.png) [@Szlater](https://boards.straightdope.com/u/Szlater)\ **Post date:** [February 21, 2008, 2:37pm UTC](https://boards.straightdope.com/t/why-wont-the-uk-adopt-the-euro/438549/15 "2008-02-21T14:37:26Z")
[QUOTE=Winston Smith] Indeed, I would like to see the referendum if someone can provide a cite/site. [/QUOTE] It hasn’t been held yet. 🙂 ---
**Author:** ![jjimm](https://avatars.discourse-cdn.com/v4/letter/j/ba8739/32.png) [@jjimm](https://boards.straightdope.com/u/jjimm)\ **Post date:** [February 21, 2008, 2:37pm UTC](https://boards.straightdope.com/t/why-wont-the-uk-adopt-the-euro/438549/16 "2008-02-21T14:37:34Z")
[QUOTE=Winston Smith] Do you recall any particulars? [/QUOTE] [Brown’s ‘five tests’ for eurozone membership](http://www.telegraph.co.uk/money/main.jhtml?xml=/money/euromoney/entry/cetests.xml). ---
**Author:** ![scareyfaerie](https://sea3.discourse-cdn.com/straightdope/user_avatar/boards.straightdope.com/scareyfaerie/32/3135_2.png) [@scareyfaerie](https://boards.straightdope.com/u/scareyfaerie)\ **Post date:** [February 21, 2008, 2:42pm UTC](https://boards.straightdope.com/t/why-wont-the-uk-adopt-the-euro/438549/17 "2008-02-21T14:42:33Z")
I thought it was because we couldn’t have the queen’s head on our Euros. ---
**Author:** ![jjimm](https://avatars.discourse-cdn.com/v4/letter/j/ba8739/32.png) [@jjimm](https://boards.straightdope.com/u/jjimm)\ **Post date:** [February 21, 2008, 2:50pm UTC](https://boards.straightdope.com/t/why-wont-the-uk-adopt-the-euro/438549/18 "2008-02-21T14:50:28Z")
[QUOTE=ScareyFaerie] I thought it was because we couldn’t have the queen’s head on our Euros. [/QUOTE] We can, though - one side is left blank for the use of that country’s designers. E.g. [test UK euro design](http://www.eurocoins.liesemeijer.com/Tokens.html). ---
**Author:** ![Ximenean](https://avatars.discourse-cdn.com/v4/letter/x/aca169/32.png) [@Ximenean](https://boards.straightdope.com/u/Ximenean)\ **Post date:** [February 21, 2008, 2:54pm UTC](https://boards.straightdope.com/t/why-wont-the-uk-adopt-the-euro/438549/19 "2008-02-21T14:54:24Z")
Also, the coins are butt-ugly. They look like the sort of coins you get with a boardgame. The notes are OK, but in typical “design by committee” style nobody could agree on what historic buildings to feature, so the notes depict non-existent generic buildings instead. ---
**Author:** ![Ximenean](https://avatars.discourse-cdn.com/v4/letter/x/aca169/32.png) [@Ximenean](https://boards.straightdope.com/u/Ximenean)\ **Post date:** [February 21, 2008, 3:01pm UTC](https://boards.straightdope.com/t/why-wont-the-uk-adopt-the-euro/438549/20 "2008-02-21T15:01:26Z")
[QUOTE=Winston Smith] Indeed, I would like to see the referendum if someone can provide a cite/site. [/QUOTE] The anti-Euro side loved to taunt Blair about his referendum, which he never quite got round to calling because he knew he would lose. Brown was always said to be more sceptical about the Euro. [Next page](https://boards.straightdope.com/t/why-wont-the-uk-adopt-the-euro/438549.md?page=2)