1. Lisa Malysse Lisa Talloen Delphine Gossieaux Marie Vanderbeke UK vs. EURO

2. What Is the European Union? A government, an association of states, or an international organization 27 member States Launched a single European currency Building a single Europe-wide free market for goods, services, people, and capital. Largest providers of official development assistance around the world London : member since 1973

3. What is the Euro Area? 1992 : Maastricht Treaty 4 January 1994 1 January 1999 1 January 2002 An economic and monetary Union 17 European Member States Common currency European Central Bank is responsible for the monetary policy

4. Why is the UK member of the EU but not of the European area? Opt - out Economic reasons : - protection of their financial markets - to maintain their monetary policy - flexibility on exchange rates & short- term interest rates Political reasons Psychological reasons : - Pond part of identity - Proud of their currency

5. Why is London called ‘the financial heart’ of the world? 4 financial hearts : London, New York, Tokio &Frankfurt Many international banks Numerous stock exchanges Trading in : - Options - Currency - Oil -Metals - Gold - Insurance

6. Interest rate in the UK UK bank rate will fall to 0,25% by the end of the year. A rise to 0,75% in 2017. In April, they said it would be 2014. The Bank of England will offer £80 billion Surprise fall in inflation Weakening global oil price Banks and borrowers won’t lend

7. Actuality Minister Nick Clegg : afraid that UK has to leave te EU Debate of the budget of the EU Threat :veto against the new budget Cameron & Clegg : focus on a freezing budget