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The Future of the EMU
One of the primary reasons any European country might have for joining the EMU is a sense of economic stability that it would provide. Since the Euro was first conceived in ’92, The UK has opted against adopting the currency. Before the UK or any country should join “Euroland” they must ask themselves: “Will it provide stability? Will it be a zone of growth?” Is Britain’s focus facing too far away from its neighbors, leaving them out of an economic prosperity that is ascertained for the future of the EMU? I propose that Blair is wise not to sprint toward the euro. That the economic and growth differentials between the countries in the EU are too great to provide a secure enough prediction of the euro’s future.
To start with the question of stability. There will be one European Central Bank. This ECB will set one interest rate across a vast area of Europe, from Lisbon ...
One of the primary reasons any European country might have for joining the EMU is a sense of economic stability that it would provide. Since the Euro was first conceived in ’92, The UK has opted against adopting the currency. Before the UK or any country should join “Euroland” they must ask themselves: “Will it provide stability? Will it be a zone of growth?” Is Britain’s focus facing too far away from its neighbors, leaving them out of an economic prosperity that is ascertained for the future of the EMU? I propose that Blair is wise not to sprint toward the euro. That the economic and growth differentials between the countries in the EU are too great to provide a secure enough prediction of the euro’s future.
To start with the question of stability. There will be one European Central Bank. This ECB will set one interest rate across a vast area of Europe, from Lisbon ...
Posted by: Jason Pinsky
Limited version - please login or register to view the entire paper.