Paper Summary:

This paper argues that while there are indeed risks involved, as well as certain losses in terms of national patrimony, the economic gains to be had from Britain joining the euro community outweigh these. The paper argues that even if the economic opportunities were not in and of themselves sufficient motivation, there would also be the consideration of political power. It shows that if Britain remains outside of 'euroland' it will cede more power to Germany than perhaps is wise to do, given the history of Germany imperialism in Europe. The paper gives an overall history of the euro to further understand Britain's dilemma.

From the Paper:

"It has been extraordinarily successful. But the success of the euro can only be as great as the economic realities underlying each country, and while some of the European economies are in good shape others are not. And with so many different economies to balance, it is hard to imagine an historical moment during which they will all be healthy. This fact must make those in Britain considering the adoption of the euro a little concerned given that Britain's economy may be called upon to prop up weaker ones. "

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