Abandoning the pound is in the best interest of all of Britain Larry Mallari Tom Brinkerhoff Tom Schemkes

Pro-Euro Politicians Polls suggest a slight majority of Swedes and Danes favor the Euro If the EU enlarges to the east, Britain alone could be left as the only member remaining outside the currency union Britain would have more influence in the EU if they joined the common currency

Benefits of a common currency Reduced transaction costs Reduced uncertainty risk Create long-term capital flows Extinguish hot monies Synergy between member nations

Prime Minister Blair’s Comments During the election campaign, he wanted Britain to join the Euro “Save the Pound” politicians slogans have backfired in the opinion surveys Put Euro membership to a referendum providing that the five self imposed economic tests are met

Five Economic Tests Is there enough flexibility in the economy to deal with problems Would entry encourage firms to make long-term investments in Britain Would entry damage the City’s financial services industry Promote growth, stability and jobs Is the UK business cycle compatible with the eurozone

Opinions Recent opinion surveys in the U.K., Sweden, and Denmark show a distinct warming toward the Euro Bank of England Governor Sir Edward George called the single currency a “fantastic success” and said the introduction of euro notes and coins this year has been an “absolute triumph”

Conclusion Polls seem to suggest that Britain will join the euro eventually It will reduce transaction costs because of reduced exchange rate fluctuations which will increase economic growth Joining the euro should lead to more investments, more jobs, and lower interest rates through fiscal responsibility demanded