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Should the UK join the euro?
Member rating: No Rating | Words: | Submitted: Sat Mar 26 2005
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Should the UK join the euro? Would it be a good thing to join the euro? There are certainly two schools of thought on whether to join the euro. These are called the positive externalities some of which are reduced transaction costs, exchange rate stability, reduced borrowing costs, offsetting the theory called 'rip off Britain.' There are also a lot of strong arguments against the UK joining the euro these are called the negative externalities, some of theses are such: one off conversion costs, stock market decline, fraud and crime and monetary policy, loss of sovereignty. If the UK were to join the European union then a benefit would be the reduced transaction costs this would save traders with savings an average of 1 billion pounds (see in my appendix) a year. These savings would come from not having to pay commission or maintain hedge funds to guard against currency instability. There would...
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