How the €1 coin might look when it is introduced. 2006
is the earliest date for introduction of the euro if a referendum is held
in 2003. Hold you mouse over the coin to see the other side (file may take
a couple of seconds to load). |
- This is a paradox as the absence of large economy from EMU could reduce
EMU’s success
- out of EMU, out of decision making
- ‘prepare & decide’ or ‘wait & see’ policy could mean that
inward investment ‘waits & sees’ before committing itself – manufacturers
already hurt by the strong £ & high interest rates will have
difficulty attracting inward investment if investors think UK will not
join or will join at too high a value for the £
- UK’s policy of keeping inflation low solely with the use of interest
rates means that they may have to be high (and thus the £ high)
for a considerable period. If the £ is to be reduced to a PPP
with the euro then interest rates will need to fall to Eurozone levels
in the UK, a process which could increase inflation in the UK (partly
because of SE England housing market
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