1. The state of the UK economy 2003
... that may arising from entering the single currency. Entry into EMU would offer the UK industry potential opportunities as well as challenges. There are numerous reasons for these. The removal of the exchange rate between the UK and the Euro area would reduce a barrier to doing business across a huge market. ... 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 ...
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