Show some euro vision

Article Abstract:

The UK did not join the European single currency which was introduced on Jan 1, 1999, but tenants and landlords of commercial properties should review usage of the euro. While the euro is not legal tender in the UK, there will be mounting pressure for rents to be paid in the new currency. The two types of lease likely to permit payment in euros are euro leases or a hybrid arrangement where a tenant has the option to pay in euros for a rent specified in sterling. The euro's advent will lead to a more transparent and fluid European property market and some harmonisation of transaction costs and lease terms is probable.

International aspects, Leases, Rents (Property)

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Fight nerves over EMU

Article Abstract:

The UK government has stated that it will not consider joining European Monetary Union (EMU) until there is sustainable convergence between the UK economy and those of continental European countries. The UK currently has higher economic growth and lower unemployment than continental Europe, and it is more sensitive to interest rate changes than continental European countries because the economy operates on higher levels of debt and a larger proportion of variable rate debt.

Administration of General Economic Programs, Intnl Economic Policy, United Kingdom, Economic policy, International economic relations

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With EMU win or lose?: there is a great deal at stake for the UK's overall economy and its property sector in the country's participation or non-participation in European monetary union

Article Abstract:

There are both political and economic concerns about whether the UK should join the single European currency. Some of the implications of UK membership, which will have a complex and varied impact on individuals, businesses and governments, or non-membership, which could have a serious negative effect, are discussed. A brief description of European monetary union is provided.

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