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Ed Balls In No 10, House Prices Halved, What If In The Daily Mail

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Following on from an HPC poster's thread here recently about what if the UK had joined the euro, this piece in the Daily Mail examines a very similar scenario...

http://www.dailymail.co.uk/debate/article-2338589/Ed-Balls-No-10-House-prices-halved-The-worst-riots-century-DOMINIC-SANDBROOK-images--What-HAD-joined-euro.html

Ten years ago yesterday, Gordon Brown — then Chancellor — said Britain would not adopt the euro, because it had not met four of his five ‘economic tests’ to see if it was compatible with our national interests. By standing up to pro-euro fans such as Tony Blair and Peter Mandelson, Mr Brown did us a great service. Our economic situation today is no bed of roses but — as historian DOMINIC SANDBROOK imagines — it could have been far, far worse . . .

The date is June 9, 2003, and the House of Commons is packed to bursting point. Suddenly the chamber falls silent, and to an encouraging smile from Tony Blair, the Chancellor of the Exchequer gets to his feet.

‘I am pleased to report,’ says Alan Milburn, ‘that the Treasury has now completed the five economic tests for British entry into the euro. Each of the tests has been passed. And I am delighted to say that, subject to the approval of the British people in a referendum next year, our membership of the single currency will come into effect on January 1, 2005.’

Ironic innit.

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Classic!

Take a reasonably well thought out piece from the Torygraph and re-write it into total fantasy land to suit the tastes of the utterly rabid amongst us. It's soft porn for those too old to buy a Daily Star. A bedtime story for the swivel eyed loons.

I wonder when someone is going to do the what-if piece on the Argies not invading the Falklands, Thatcher biting the dust and us now having a manufacturing industry that could compete with Germany.

Edited by Stainless Sam

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I don't think UK houseprices would have been prevented from reaching stupid levels in 2007 if the UK had joined the Euro but I do think that they would now be a lot lower than they are in 2013.

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Classic!

Take a reasonably well thought out piece from the Torygraph and re-write it into total fantasy land to suit the tastes of the utterly rabid amongst us. It's soft porn for those too old to buy a Daily Star. A bedtime story for the swivel eyed loons.

I wonder when someone is going to do the what-if piece on the Argies not invading the Falklands, Thatcher biting the dust and us now having a manufacturing industry that could compete with Germany.

UK manufacturing was a second division outfit long before the advent of Thatcherism.

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Mainly because the Euro zone would have collapsed had we been a part of it. :blink:

Possibly but I look at what happened in Ireland and Spain where they had similar HPI up to 2007 but where prices have collapsed since because their governments havn't done what the UK government has been able to do to keep prices from falling. Of course the EZ has some big problems but one advantage of having a hard currency is that governments have to face up to reality and cannot carry on with more of the same.

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From the mail link:

And so for many British manufacturers, Europe’s new promised land never materialised, because their goods were effectively being priced out of continental markets

Made little or no difference then but if house prices were reasonable at least UK workers would be able to accept lower wages without hardship and the UK would be more competitive as a result.

Last week, one Brussels official even warned that if the situation deteriorated, the EU would consider installing a new technocratic government to restore law and order.

Little or no difference there then either - likely his name would have been, you've guessed it, Mr Mark Joseph Carney.

Edited by billybong

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Possibly but I look at what happened in Ireland and Spain where they had similar HPI up to 2007 but where prices have collapsed since because their governments havn't done what the UK government has been able to do to keep prices from falling. Of course the EZ has some big problems but one advantage of having a hard currency is that governments have to face up to reality and cannot carry on with more of the same.

But the EZ governments are just carrying on with more of the same. The EZ is a complete mess with everyone looking for someone else to bail them out.

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But the EZ governments are just carrying on with more of the same.

Try telling that to people in Greece,Cyprus and Spain. They have done some difficult stuff but stuff that had to be done, stuff that the UK hasn't but still needs to.

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  • 242 Brexit, House prices and Summer 2020

    1. 1. Including the effects Brexit, where do you think average UK house prices will be relative to now in June 2020?


      • down 5% +
      • down 2.5%
      • Even
      • up 2.5%
      • up 5%



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