France, Britain and the European Union

Paper Summary:

In order to fully understand the impact of the European Union and its effects on Great Britain and France, as well as the rest of its members, this paper takes a critical look at how their economies and societies have changed over the last few years. Great Britain and France are two of the strongest nations that participated in the European Union experiment and their problems of integration are perhaps representative of the problems that the rest of the EU suffers. This paper examines the socio-economic impact of the European Union on the unity and culture of these two powerful nations.

From the Paper:

"For Great Britain the greatest damage of the European Union has been on its currency. With the onset of the EU, and the creation of the Euro, the pound sterling has taken a large hit in the international monetary market. Pre Euro, the pound sterling and the Deutschemark were the standard currency of the European market next to the dollar. However, with the birth of the Euro, most international banks want to fill its reserves with the Euro because it spreads out the risk of inflation and other negative factors across many member states and therefore it is largely more stable than other currencies. With this shift in currency focus, the pound has been doing relatively badly against the dollar as well as the Euro."

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