Wiki Actu en

May 20, 2016

Lord Howard and Alistair Darling address Confederation of British Industry on EU referendum

Lord Howard and Alistair Darling address Confederation of British Industry on EU referendum

From Wikinews, the free news source you can write!
Jump to: navigation, search

Friday, May 20, 2016

United Kingdom
Related articles
Location of the United Kingdom
United Kingdom (orthographic projection).svg
Collaborate!
  • Pillars of Wikinews writing
  • Writing an article

Lord Howard, the former United Kingdom (UK) Conservative Party leader, and Alistair Darling, the former UK Chancellor of the Exchequer, set out their opposing views regarding the UK’s continuing membership of the European Union at the Confederation of British Industry‘s (CBI) annual dinner on Wednesday.

Logo of the CBI.

The dinner was held as the UK is expected to vote on the matter in next month’s EU referendum. Lord Howard encouraged those in attendance to vote for the UK to leave the EU, while Mr Darling was speaking in favour of a vote to remain.

Responding to the CBI calling for the UK to remain in the EU, Lord Howard referred to the organisation’s previous calls to become a full member of the European Monetary System and the Euro, saying these calls had been wrong, and suggesting this reduces the credibility of the CBI’s current stance. Lord Howard also said if the UK left the EU and didn’t replace it with some trade deal, which he described as “inconceivable”, then the UK’s exports would face EU import tariffs of 2.4% on average. He compared this to the UK’s net contribution to the EU’s budget, which he said was “equivalent to a seven per cent tariff.”

Mr Darling reminded the audience of warnings from Mark Carney, Governor of the Bank of England, and Christine Lagarde, head of the International Monetary Fund, that leaving the EU could lead to a recession in the UK. Mr Darling said this “would be disastrous for working people’s life chances and living standards”.

The referendum is expected to take place on June 23.



Related news[]

  • “IMF says UK leaving the EU will lead to negative economic consequences” — Wikinews, May 13, 2016

Sources[]

This text comes from Wikinews. Permission is granted to copy, distribute and/or modify this document under the terms of the Creative Commons Attribution 2.5 licence. For a complete list of contributors for this article, visit the corresponding history entry on Wikinews.

Lord Howard and Alistair Darling address CBI on EU referendum

Lord Howard and Alistair Darling address CBI on EU referendum

From Wikinews, the free news source you can write!
Jump to: navigation, search

Friday, May 20, 2016

United Kingdom
Related articles
Location of the United Kingdom
United Kingdom (orthographic projection).svg
Collaborate!
  • Pillars of Wikinews writing
  • Writing an article

Lord Howard, the former United Kingdom (UK) Conservative Party leader, and Alistair Darling, the former UK Chancellor, set out their opposing views regarding the UK’s continuing membership of the European Union at the Confederation of British Industry’s (CBI) annual dinner on Wednesday.

Logo of the CBI.

The dinner was held as the UK is expected to vote on the matter in next month’s EU referendum. Lord Howard encouraged those in attendance to vote for the UK to leave the EU, while Mr Darling was speaking in favour of a vote to remain.

Responding to the CBI calling for the UK to remain in the EU, Lord Howard referred to the organisation’s previous calls to become a full member of the European Monetary System and the Euro, saying these calls had been wrong, and suggesting that this reduces the credibility of the CBI’s current stance. Lord Howard also said that if the UK left the EU with no trade deal, which he described as “inconceivable”, then the UK’s exports would face EU import tariffs of 2.4% on average. He compared this to the UK’s net contribution to the EU’s budget, which he said was equivalent to a seven per cent tariff.

Mr Darling reminded the audience of warnings from Mark Carney, Governor of the Bank of England, and Christine Lagarde, head of the International Monetary Fund, that leaving the EU could lead to a recession in the UK. Mr Darling said this “would be disastrous for working people’s life chances and living standards”.

The referendum is expected to take place on the 23 June.



Related news[]

  • “IMF says UK leaving the EU will lead to negative economic consequences” — Wikinews, May 13, 2016

Sources[]

This text comes from Wikinews. Permission is granted to copy, distribute and/or modify this document under the terms of the Creative Commons Attribution 2.5 licence. For a complete list of contributors for this article, visit the corresponding history entry on Wikinews.

May 1, 2005

Cyprus, Latvia and Malta are a step closer to adopting euro

Cyprus, Latvia and Malta are a step closer to adopting euro

From Wikinews, the free news source you can write!
Jump to: navigation, search

Sunday, May 1, 2005

Cyprus, Latvia and Malta, three states which joined the European Union in May 2004, exactly one year ago, today became members of the Exchange Rate Mechanism II (ERM II), which pegs their currencies to the euro within a 15% margin above or below a central rate. While they are in ERM II, their currencies must not fluctuate to an extent that exceeds this 15% margin, and they must also keep inflation and budget deficits in check. For countries to adopt the euro, they must stay in the ERM II for at least two years. Therefore, the earliest date that Cyprus, Latvia and Malta can adopt the common currency is in May 2007.

Cyprus, Latvia and Malta have joined four other countries already in ERM II: Denmark, Estonia, Lithuania and Slovenia. Denmark joined ERM II in 1999 but has since not wished to adopt the euro, while Estonia, Lithuania and Slovenia joined the Exchange Rate Mechanism in June 2004, and are expected to adopt the euro by late 2006 or early 2007. Other new European Union member states are also expected to join ERM II soon.

Out of the European Union of 25 member states, 12 countries currently use the euro, which they adopted in January 1, 2002. The only EU members that remain either outside the Eurozone or ERM II are the Czech Republic, Hungary, Slovakia, Sweden, Poland and the United Kingdom.


References

Bookmark-new.svg


This text comes from Wikinews. Permission is granted to copy, distribute and/or modify this document under the terms of the Creative Commons Attribution 2.5 licence. For a complete list of contributors for this article, visit the corresponding history entry on Wikinews.

March 14, 2005

Slovakia on track to adopt euro in 2009

Slovakia on track to adopt euro in 2009 – Wikinews, the free news source

Slovakia on track to adopt euro in 2009

From Wikinews, the free news source you can write!
Jump to: navigation, search

Monday, March 14, 2005

Slovakia, a Central European country of 5.4 million, is set to adopt the common European currency in 2009

Slovakia is on track to meet its target of adopting the euro currency in 2009, claims Joaquín Almunia, the European Union’s Monetary Affairs Commissioner.

The main monetary figures and the fiscal situation “are going in a good direction,” Almunia said. “If things continue as they are today, I’m sure the Slovak authorities will meet the target of being a member of the eurozone in 2009.”

File:1euro 2007.jpg

1 euro coin
(Image missing from commons: image; log)

Slovakia joined the European Union last year along with other Central European, Baltic, and Mediterranean states. The growth rate of its GDP has been one of the highest in the European Union, recording 5.5% growth in 2004. Almunia said that authorities should use this growth to curb the country’s relatively high budget deficit, a necessary prerequisite for joining the euro zone.

Before a country adopts the euro currency, it must dwell in the European Exchange Rate Mechanism II for two years, where its exchange rate relative to the euro, as well as its budget deficit and inflation, are closely monitored. For Slovakia to adopt the euro in 2009, it must join ERM II in 2007. Three new members, Slovenia, Estonia, and Lithuania, have already joined ERM II and are on track to adopt the euro in 2006–2007.


References

Bookmark-new.svg


This text comes from Wikinews. Permission is granted to copy, distribute and/or modify this document under the terms of the Creative Commons Attribution 2.5 licence. For a complete list of contributors for this article, visit the corresponding history entry on Wikinews.