Why does the UK use the pound as their official currency although the UK is one of the EU states?
Oct 10, 2008 3:21 PM
Answers · 4
Not to mention... the British Pound is still stronger than the Euro. It seems a little logical (maybe a little selfish and snooty, hehe) to keep their currency, rather than adopting one which was worth less than the Pound.
October 11, 2008
Well, in general, all EU law is valid in all member states, this would include replacing their old currency with the Euro. However, it is possible for member states to negotiate "opt-outs" from certain treaties or legislation in the EU, which means that they basically don't participate in those fields. At the time, the UK negotiated an opt-out from the Maastricht Treaty, which is the treaty in which the member states agreed to introduce the Euro as their new currency. (Denmark had also negotiated an opt-out, so they also kept their old currency). The UK is considering the introduction of the Euro though, and they might introduce it in the future.. =)
October 10, 2008
Hi HAILEY we in england still use the pound £ because all the european countries that opted for the euro are now financially worse off. Ask and dutch or french person which currency they prefer it will be their old one not the euro. that is why our pound£ is stronger than the euro or the dollar you cant run a lot of countries with one currency each one has to organise its own finances
October 11, 2008
Because not every country wanted to adopt the euro. The UK has always been a bit special because they're an island, and in general they tend to screw up on European matters. On one hand they're part of the European Union and on the other hand they aren't.
October 10, 2008
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