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<p>[QUOTE=&quot;chrisild, post: 470110, member: 39&quot;]In the current economic situation, or crisis, it may be tempting for some countries to say, we want to benefit from the stability in terms of exchange rates that the euro has brought to the members of the currency union. That is primarily true for small economies such as Iceland. But such decisions should not be made too quickly - a currency union is not an umbrella that you grab when the clouds are dark, and put away when it&#039;s bright and sunny again ...</p><p><br /></p><p>Members of the currency union should be committed to monetary and, IMO, even further economic integration. That is tough anyway (as the past few weeks have shown very clearly) but would be extremely difficult to accomplish with the UK which has been pretty much the contrary of a motor so far.</p><p><br /></p><p>If the UK actually wanted to have something to with Europe <img src="styles/default/xenforo/clear.png" class="mceSmilieSprite mceSmilie2" alt=";)" unselectable="on" unselectable="on" /> in terms of currency, an alternative would make sense that can more easily be reverted later. Maybe some kind of exchange rate mechanism, similar to ERM-II but without having a euro introduction as the ultimate goal.</p><p><br /></p><p>Christian[/QUOTE]</p><p><br /></p>

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