CURRENCY DIFFERENCE OF THE UNITED KINGDOM
Thesis: The United Kingdom uses its own currency which is Sterling. They do not change their currency to the Euro. What are the advantages or disadvantages of the UK not accepting the Euro? Why UK stayed out of Euro? Is the UK doing the right thing or not? I will mention on these questions to answer.
“An economic and political union established in 1993 after the ratification of the Maastricht Treaty by members of the European Community and since expanded to include numerous Central and Eastern European nations. The establishment of the European Union expanded the political scope of the European Economic Community, especially in the area of foreign and security policy, and provided for the creation of a central European bank and the adoption of a common currency, the euro.”
UK and the Euro Relations
- Advantages and Disadvantages of the UK not accepting the Euro
- Monetary Unions can be collapsed.
- Money crises can be emerged.
- Exchange rate problem in trade.
- Loss independence of Fiscal and Monetary Policy
- Reasons of why UK stayed out of the Euro
- Their currency is more valuable than the Euro
- Less control over the common currency
- The UK has stable and strong economy
- Euro Crisis
- How other members of European Union were affected?
- How UK was affected?
- What is Next?
- Will the UK change its currency to the Euro or proceed to use the British Pound?