When the euro was introduced in January 1999, the United Kingdom was conspicuously absent from the list
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Whether the United Kingdom will eventually join the euro club is a matter of considerable importance for the future of the European Union as well as that of the United Kingdom. If the United Kingdom, with its sophisticated finance industry, joins, it will most certainly propel the euro into a global currency status rivaling the U.S. dollar. The United Kingdom for its part will firmly join the process of economic and political unionization of Europe, abandoning its traditional balancing role. Investigate the political, economic, and historical situations surrounding British participation in the European economic and monetary integration and write your own assessment of the prospect of Britain joining the euro club. In doing so, assess from the British perspective, among other things, (1) potential benefits and costs of adopting the euro, (2) economic and political constraints facing the country, and (3) the potential impact of British adoption of the euro on the international financial system, including the role of the U.S. dollar.
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Related Book For
International Financial Management
ISBN: 978-0078034657
6th Edition
Authors: Cheol S. Eun, Bruce G.Resnick
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