Tim Weber of the BBC gives a plain English interpretation of Gordon Brown’s analysis of the five tests for euro membership. For those that are really keen on learning more, HM Treasury has devoted a whole section of its website to the subject.
No doubt there will be more press coverage and analysis tomorrow. My opinion? The outcome of Brown’s analysis has been driven as much by political motives as by hard economics, and whatever he would have concluded, it is unlikely that the pro-euro campaign could win a referendum in the foreseeable future, sad to say.
My little new business has to run a dual currency accounting system, complete with attendant extra costs, extra accountant fees, extra paperwork, etc. I will have to offer my clients the choice of being invoiced/paid in euro or sterling. Inevitably, I will lose money on currency fluctuations and transaction costs. Adoption of the euro in the UK would simplify my business and save me a lot of money.
separating the wanted from the unwanted