ARCHITECTURE MUST BLAZE
The advantages and the disadvantages of Britain joining the Euro
The new year, the new Euro. The Euro is a single currency arrangement that came into operation between11 members of the European Union in January 1999. It was first introduced on the 1st of January 2001 and so it is now approaching its first birthday. A single currency will be an important complement to the Single financial marketing, which would make the European Union a more powerful in the world economy. The new Euro will be among the strongest currencies in the world, along with the US Dollar and the Japanese Yen. It will soon become the second most important reserve currency after the US Dollar. Britain stands to lose political when the economic influence in shaping future single financial marketing if it still outside a new system. If Britain joins the Euro, it will be in 2002 if the public in a referendum accepts it. However there are still a lot of problems with the euro. This essay will talk about the advantages and disadvantages of Britain joining the Euro and I will put my personal opinion in the conclusion.
1 January 2002 Euro was begun to use in the world.
28 February 2002 the 15 country¡¦s currency was disappear
28 February 2002 Inaugural session of the Convention - Brussels
15-16 March 2002 The Barcelona European Council
If you want to know more about Euro, your can visit¡Ghttp://europa.eu.int/euro/html/home5.html
The first advantage of Britain joining the Euro is the development of Euro financial marketing. In Britain, they had the notion to secure people¡¦s right and rule long time ago; also, following by the increasing amount of trading, Britain became an important financial centre during the 17th and 18th century. From 1870~1914 the economy was vigorous in Britain. The Pound was the most impartment currency in the world. However¡Aafter the second world war, Britain experienced a decline in its economic fortunes. But London still had close relationship in financial marketing. Therefore, single financial marketing will make it become more and more advantageousness. The financial marketing in London is had a very strong managing competency and positive scheme. For example, the Eurodollar market establish during 1960 and 1986¡¦s Big Bang¡Bthe London International Financial Futures and Options Exchange, LIFFE establish during 1982. These programs can make it become more and more impartment. The second advantage of Britain joining the Euro is everything will become more and more cheaper than before. The reason why the prices deduced is because the currency exchange and customs duty will disappear. For example, when people who live in Britain want to buy cars, clothes or anything, the price will be cheaper than before. The third advantage of Britain joining the Euro is political legitimacy. The Euro will make the Europe had more and more powerful in the world.
The first disadvantage of Britain joining the Euro is that the euro was made financial marketing become more and more indeterminate. According to the MORI¡¦s poll in February 2000, there were more than 58% British against [next page]