The Debate on the Euro

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The Debate on the Euro

• Advantages and Disadvantages

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Advantages
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Powerful world currency

• With ongoing expansion of the EU, and of Eurozone
  countries in particular, the Euro is set to
  become an increasingly major world currency in
  the coming years

4
Strengthening of Europe as a union

• The very reasons for having a European Union in
  the first place are also reasons for making it
  stronger through a universal single currency

5
No commission charges for currency exchange

• The considerable money saved through no longer
  having to pay conversion charges could only
  benefit trade, tourism and general freedom of
  movement

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Enabling comparison of prices in different EU
countries

• With the same currency across the EU people would
  be encouraged to shop further afield for the best
  buys, which would lead to greater consistency and
  stability of prices.

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Disadvantages
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Represents a loss of sovereignty

• Having its own currency is one of the major marks
  of the sovereignty of a nation and losing the
  pound could mark a point of no return in terms of
  Britains independence as a nation

9
Loss of control of economy

• Economic decisions will increasingly be made in
  Frankfurt and Britain will be unable to make
  adjustments such as altering interest rates to
  the advantage of our own economy

10
Difficulty of introducing a new currency

• The adoption of a new currency is very expensive
  and complicated, and businesses have been known
  to take advantage of the confusion by hiking
  their prices

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The pound is strong

• The pound is still a strong and internationally
  respected currency, and losing it would further
  diminish Britains voice internationally