More takers

Article Abstract:

Greece, Denmark, Norway and Sweden may join European monetary union. Greece has already made a formal application to join, and Greece has made progress since it was barred from entry in its initial application. Denmark appears the next most enthusiastic, though a referendum has yet to be held on the issue. Both Danes and Swedes are concerned about loss of national sovereignty. Norway has yet to join the EU, and the issue is divisive in Norway, though there are signs that EU membership is possible.

Greece, Denmark, Sweden, Political aspects, Norway, Greek foreign relations, Danish foreign relations, Norwegian foreign relations, Swedish foreign relations

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Just let's get stuck in

Article Abstract:

The United Kingdom government argued that the European Union was (EU) was moving toward its vision of greater flexibility of labor markets, competition in product markets, and more liberalization of capital markets. The EU meeting at Portschach, Austria, in Oct 1998 shows a shift to the left, and a new emphasis on employment as a goal for central banks, as well as control of inflation. The UK appears more enthusiastic about monetary union, which may be because industry has sought a clearer lead, and due to a delusion that the UK can provide leadership in Europe.

Editorial, Economic policy

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John Bull stays at home

Article Abstract:

The United Kingdom is not taking part in European monetary union (Emu) and those in favor of joining argue that there are a number of advantages. These include low interest rates, and the ability to take part in decisions that will affect the UK. The UK has to be more sensitive to interest rates than the European Central Bank (ECB) so the argument that the UK has no autonomy outside Emu is false. The euro could also be volatile in international markets compared to the German mark, since trade is more important for Germany than for countries in the euro zone as a whole. The UK also appears likely to attract foreign investment, even without joining Emu.

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