Should the UK join the Euro Coursework Example | Topics and Well Written Essays - 1750 words

Should the UK join the Euro - Coursework Example o from both the social and political angles so as to have multi-dimensional outlook and prediction of what that move may mean to the United Kingdom countries. Euro is the currency that states that are within the Eurozonal framework trade with (Verdun, 2006:33). Eurozone consists of about nineteen countries that subscribe to and are constituents of the European Union (EU). Currently United Kingdom uses sterling pounds as its currency of exchange and below is the critical assessment and evaluation that debates on whether UK should join Euro or not. At the end, a clear stance is demonstrated based on the evidence provided. Talks about UK joining the Eurozonal map took a shift when the former Prime Minister Tony Blair and the whole government set five conditions that have to be met for UK to join the Euro. Later on Blair was succeeded by Gordon Brown who maintained the same stance as Blair about UK joining Euro. About seven years ago, Gordon Brown made decision that has until now has been withheld about the zero chances of Britain joining the Euro zone (Owen, 2012:120). Although many economists in Britain at the time when economic crisis was experienced suggested that UK joining the Eurozone would work for the benefit of the nations, these suggestions were greatly condemned and detested by a majority of the citizens including Gordon Brown himself. This period of economic upheaval seemed like it could set United Kingdom to pair with other states of the Eurozone and share the Euro currency but it did not materialize then (Owen, 2012:124). However, there are several reasons why UK should or should not joi n Euro and they have been discussed. It would really serve UK best in the international market if it joins the Euro since it will be best insulated from the many ever changing rates in currency. This is because most of the countries it will be trading with have the same currency (Euro) rather than having pounds and other currencies bring fluctuations in exchange rates.