Should the UK join the Euro currency Essay Example | Topics and Well Written Essays - 9750 words

Should the UK join the Euro currency - Essay ExampleThe appearance of euro in 1999 and its credenza by 11 countries of European Union (at a primary stage) has been the most significant effort of the Community towards this direction. Since its introduction euro has verified the provisions referring to its success. However, there ar countries of the European Union that have not been convinced on the stability of the new (common) currency and for this reason are still reluctant in enter the European Monetary Union (EMU). Sweden and UK are the most representative examples of the above phenomenon. Particularly regarding Britain, the countrys position towards euro has been considered as crucial mostly because of the determination of this country to the development of the global financial markets. The participation of UK in the European financial union has been chosen because of the importance of this issue for the social, financial and political scene in Britain. Moreover, the specif ic issue has been extensively examined as it presents a series of difficulties that create severe problems to the realization of the relevant project. More specifically, the participation of Britain in the monetary union as it has been formulated and applied in the members of EU has been doubted as of its feasibility. The existing differences between UK and the European Union have been found to be a lot. In fact, the difference in currency is not the only one existed between Britain and the other members of European Union.