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"The British Government made a major mistake in not joining the Euro at its outset" Do you agree?
Member rating: No Rating | Words: | Submitted: Mon Jun 28 2004
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"The British Government made a major mistake in not joining the Euro at its outset" Do you agree? With the beginning of the EMU project in 1999, the British government decided it best for the country to remain outside this controversial and arguably risk bearing project. Many have criticised this decision as part of the ongoing saga whereby the UK remains outside a European project and eventually seeing the benefits decides to join. This was the case with both the economic community and the ERM and when we did join the structure of the project had already been established. However the clear failure of the ERM on white Wednesday, reflecting in essence the failed preparation for monetary union, illustrates how volatile such a project can be. The UK government lost billions of pounds worth of foreign currency reserves in the ERM project and it should never make the same mistake again....
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