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Britain And Joining The Economic And Monetary Union
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Economic and monetary union promises both currency stability and a move towards further integration of Europe. Deeper monetary co-operation would strengthen political bonds between EU member states and protect a common market. Thus, since the 1960's, the EMU has been a recurring goal of the Euro ....
Middle of essay
....s between 1999-2002, during which national currencies will circulate alongside the Euro. The European Commission argues that the cost of introducing the single currency will be relatively small compared to the efficiency gains, simply because the costs would be one-off. However, the cost for major EU banks has been estimated to ECU 10 billion, translating to £7.17 billion at February 1998 exchange rates, for a "big bang" conversion. For the UK banks alone, this will amount to ECU 1 billion (£7.... |
| Number of words: 2645 |
Approximate pages: 10 |
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