Perilously close to the edge

Article Abstract:

There has been a significant revival in financial market confidence since summer 1998. In particular, individual American investors have shown great resilience and self-confidence, being determined to push share prices back up to their previous high levels. However, it is possible to argue that there are still significant dangers to the world economic order. The Russian economy remains in crisis and is predicted to decline further in 1999, and there is still significant instability in Indonesia. There are serious problems in the developing world, and there remains a great wealth divide between rich and poor countries.

Analysis

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RIP: the Great British Company

Article Abstract:

The implementation of European monetary union (Emu) will have a significant impact on business activity in the UK, even if the UK does not participate in Emu initially. Most immediately, there will be price transparency, with prices quoted in euros across continental Europe. This means that purchasers will be able to compare prices directly and purchase from a much wider range of suppliers. Emu will prove beneficial for companies already in a strong position in Europe, as they will be able to focus more closely on global integration.

United Kingdom

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Declare for the euro now, Mr Blair. But, above all, stop the dithering

Article Abstract:

It is wrong to assume that the UK can simply remain on the sidelines of European economic and monetary union, waiting to see whether it is successful. In fact, the single European currency will have a very significant impact on the UK's whole relationship with Europe and on the UK's place in the world. The UK should actively seek to ensure that European economic and monetary union is successful, and should also make a commitment to joining.

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