Its first 100 days were rocky, but the euro's in rude health

Article Abstract:

The euro has been declining quite steadily on the foreign exchanges since it was launched on Jan 1, 1999, and its value against the pound has fallen by 5%. However, those who use this development as an argument in favour of the UK remaining outside European monetary union are misguided. In fact, the fall in the value of the euro on the foreign exchanges is extremely small by currency movement standards. It is important to realize that the euro will be a permanent feature and that the UK must join European monetary union if it is not to become damagingly distanced from continental Europe.

United Kingdom, International economic relations, Currency in Circulation

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The euro is coming and there's no place to hide

Article Abstract:

There has been very little political leadership in the UK on the issue of European monetary union. It is clear that UK participation in European monetary union would make it impossible for the UK to have a different level of interest rates from the rest of the European Union. However, joining European monetary union would in fact align the UK economy with the rest of Europe very quickly. Furthermore, there would be very high economic costs associated with not joining European monetary union.

Economic policy

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