UK: Stay Away From Joining the Euro
S. Tilford & P. Whyte, Centre for European Reform | October 14, 2008
Though the UK economy has become more "European," one area of contrast endures: the euro. ++ UK capitalism has been discredited and the credit crunch will be a test that may prove independent currency is bad for financial stability, reviving the case for joining the euro. ++ However, disparities in production, investment, wages and yields between EU countries could unravel the entire currency. ++ It may seem tempting, but the case for the UK to join the euro, “just when the viability of the euro is set to be severely tested, is weak.”
