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EURO SHOULD BRITAIN JOIN?
BROWNE A. wydawnictwo: ICON BOOKS , rok wydania 2001, wydanie I cena netto: 40.00 Twoja cena 38,00 zł + 5% vat - dodaj do koszyka European economic and monetary union is driven by politics, but the economic costs and
benefits of Britain's membership can and should be assessed, argues Professor Patrick
Minford in this careful and succinct analysis of the cases for and against Britain
adopting the euro.
The core argument in favour is the reduction of exchange-rate risk, but because the euro
is a regional currency that has fluctuated considerably against the dollar, exchange-rate
variability might not be less under the euro and could even increase. In any case,
financial markets can diversify away such risks.
Minford sees substantial costs of membership: increased variability of UK output,
employment and prices in response to shocks; damaging harmonisation of tax rates, social
support and regulation; and the possibility that British taxpayers will have to meet some
of the costs of big projected state pension deficits in Germany, France and Italy. He
concludes that EMU, 'as it is constituted and planned would be strongly against British
interests to join'.
69 pages Paperback
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