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Essay / Research Paper Abstract
This 9 page paper thoughtfully looks at the cases for and against the embrace of the euro by Britain. The situation is discussed several years after the advent of the new currency. Both economic and political reasons are considered. Bibliography lists 6 sources.
Page Count:
9 pages (~225 words per page)
File: RT13_SA333R1.rtf
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Unformatted sample text from the term paper:
continues to hesitate to join the party. In fact, recent speculation seems to suggest that Britain will not be on board anytime soon. Reed, Sains & Reinhardt (2003) report: "British
Prime Minister Tony Blairs hopes of shepherding his country into the European Monetary Union (EMU) might also be dashed if the anti-euro contingent in Britain gathers fresh courage from a
Swedish rejection" (p.44). Indeed, Sweden is contemplating the currency so Britain is not the only nation that has not hopped on board the euro train, and it might not do
so ever. Why? There are a multitude of reasons why Britain would fare best by staying away. At the same time, there are reasons for the country to go
forward and adopt the euro as its currency. Each side of this issue is complex and supporters of the points of view each have valid arguments. While the
single currency concept is rather positive, what might cause a nation to be skeptical? One reason might be because national currencies tend to be symbolic of sovereignty ("Why the politics,"
1998). For example, the U.S.S.R. broke up, and each nation state introduced their own distinct type of money (1998). This allowed each nation state to toot its own horn. Currency
creates character and is similar to creating a flag or particular customs or traditions. One can see that currency is both symbolic and political. Additionally, in evaluating why Britain may
not want to join, aside from their rhetoric, may in fact be underlying feelings of vulnerability. There are several historical references that might help to explain why Britain might
not want to join (1998). The Latin Monetary Union of the 1800s is just one example (1998). Although there are many negatives, the list does not seem
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