I have lost some money….not because I was careless and dropped it somewhere, nor did I get ripped off by a dodgy trader. The money was just sitting in my wardrobe waiting for my next trip to the Eurozone. Because of the weakening Pound, my Euros have lost value and some analysts are predicting parity between the Euro and the Pound any week now. Another question some people are asking again: should the UK join the Euro now?

Due to the financial climate the Pound is really suffering at the moment compared to the Euro. This is bad for travelers such as me as things will seam more expensive in Europe than in the past however for exporters this news is quite good as goods that Eurozone traders buy from the UK will seam cheaper. Some people are suggesting the UK should again look to join the Euro. To be honest I don’t think we will and I also don’t think it would be hugely beneficial for us mainly due to the fact of the length of the process to join. Imagine we decided tomorrow to join the Euro, I imagine the earliest we could join is perhaps next summer or maybe not even until January 2010. I think most people are predicting that the worst of the financial crisis will be over by then so what benefits would it give us? Also what happens to all the debt we have accumulated? Would Europe have to be burgeoned with this debt?

I have read that in the future it is predicted that the Euro will become like the Dollar and be accepted almost everywhere and even be used as a reserved currency and for these reasons I think the UK has to join it one day but perhaps not today!

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