1. The state of the UK economy 2003
... enhanced. This is a potential benefit to the UK if they were to join. However, this potential benefit can not be reached unless the UK joined EMU on the basis of sustainable and durable convergence. If this were not achieved, the EMU entry could lead to increased macroeconomic instability and, over the longer term, potentially lower output and employment. In order to try ... to make sure sustainable and durable convergence is attainable, assessment of the five economic tests is conducted. This is the basis for assessing whether UK economic stability could be maintained if the UK were to...
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