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Uk and Euro Club Essay

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Mini Case1: United Kingdom and the Euro Club
The debate that whether the British will join the European economic and monetary integration is highly controversial. In this report I’d like to assess the potential benefit and cost of the adopting the euro, economic and political constraints, and the political impact of British adoption of the euro on the international financial system.

Before the assessment above, firstly let’s see the historical, economical and political backgrounds the British was surrounded by briefly. Historically, it is no wonder that British people are proud of their own single national currency because UK is the first of Europe courtiers to acquire it since post-Roman times. The invasion by the Danes, however, downgraded the continuous establishment of this principle until 1066. Even the establish was postponed, however, the achievement of the own national currency in England is outstanding compared to other Europe countries. This could be a factor that British people even now are reluctant to adopt the euro currency. Politically, right back in 1990, “Iron lady”, Margaret Thatcher predicted the catastrophic damages, which were about to happen. In fact, she gave cautions to John Major, her euro-friendly chancellor of the exchequer, that the single currency could not adjust developed countries such as Germany and smaller countries like Ireland. It is really surprising that the British prime minister could foresee the devastations, which actually occurred in Ireland, Greece and Portugal in the past year or so. It is one of the tragic events of European history since the world did not listen to Thatcher. In the end, Chancellor Kohl of Germany and President Mitterrand of France neglected her warning. But in UK as Thatcher’s idea succeeded to, Gordon Brown, who was chancellor in 2003, stated UK did not want to join eurozone since he thought Britain and the eurozone were counter. To put simply it simply, they were not still in the same level in...

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"Uk and Euro Club". Anti Essays. 11 Dec. 2018


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Uk and Euro Club. Anti Essays. Retrieved December 11, 2018, from the World Wide Web: http://parimatch-stavka7.com/free-essays/Uk-And-Euro-Club-311290.html

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