European Exchange Rate Mechanism Research Paper by Hans

A look at whether the failure of the European Exchange Rate Mechanism (ERM) provided sufficient evidence that the UK should not be part of the Euro Zone.
# 149894 | 6,423 words | 33 sources | APA | 2010 | GB
Published on Jan 11, 2012 in Business (International) , Economics (International) , Business (General)


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Description:

This paper considers a number of issues in relation to the UK and its interaction with the European Exchange Rate Mechanism (ERM) and why the UK currently remains outside of the Euro Zone. In doing so the paper considers what is meant by the ERM and how the system failed with specific reference to the events of 1992. Next, the paper discusses the extent the UK's experience of the ERM has colored the UK's European experience and as such been a factor in preventing the UK from entering the Euro Zone. The second part of the essay specifically examines the issue of the Euro Zone and why the UK has not yet joined. Additionally, the paper addresses the pros and cons of Euro Zone membership for the UK attempting to analyze the reasons for which the UK has remained outside of the common currency. Finally the paper gives a set of recommendations and conclusions based upon the research conducted as to whether or not the UK should at a future point join the Euro Zone.

Outline:

1.0 Introduction
2.0 The ERM
3.0 Failure of the ERM in 1992
4.0 Why the UK has not entered the Euro Zone
5.0 Recommendations
6.0 Conclusion

From the Paper:

To what extent did the failure of the European Exchange Rate Mechanism (ERM) provide sufficient evidence that the UK should not be part of the Euro Zone?
1.0 Introduction
This essay will consider a number of issues in relation to the UK and its interaction with the ERM and why the UK currently remains outside of the Euro Zone. In doing so the essay will consider firstly what is meant by the ERM and how the system failed with specific reference to the events of 1992. Secondly the essay will consider to what extent the UK's experience of the ERM has coloured the UK's European experience and as such been a factor in preventing the UK from entering the Euro Zone. The second part of the essay will consider specifically the issue of the Euro Zone and why the UK has not yet joined, here the essay will consider the pros and cons of Euro Zone membership for the UK attempting to analyse the reasons for which the UK has remained outside of the common currency so far for reasons beyond that of the failings of the ERM.

Sample of Sources Used:

  • BBC News. 2010. 1992: UK Crashes out of ERM. Available online at: http://news.bbc.co.uk/onthisday/hi/dates/stories/september/16/newsid_2519000/2519013.stm [Accessed on 06/05/10].
  • BBC News. 1999. Small firms Euro-sceptical. Available online at: http://news.bbc.co.uk/1/hi/business/458575.stm [Accessed on 06/05/10].
  • BBC News. 2001. Leading economists urge UK to join Euro. Available online at: http://news.bbc.co.uk/1/low/business/1371736.stm [Accessed on 06/05/10].
  • BoE. 2010. Monetary policy committee decisions. Available online at: http://www.bankofengland.co.uk/monetarypolicy/decisions/decisions10.htm [Accessed on 06/05/10].
  • Brooks, D, H, Quising, P, F. 2002. Dangers of deflation. Available online at: http://www.adb.org/Documents/EDRC/Policy_Briefs/PB012.pdf [Accessed on 31/01/10].

Cite this Research Paper:

APA Format

European Exchange Rate Mechanism (2012, January 11) Retrieved December 08, 2022, from https://www.academon.com/research-paper/european-exchange-rate-mechanism-149894/

MLA Format

"European Exchange Rate Mechanism" 11 January 2012. Web. 08 December. 2022. <https://www.academon.com/research-paper/european-exchange-rate-mechanism-149894/>

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