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Economy of England - Currency | | Economy of England - Currency: Encyclopedia II - Economy of England - Currency | | The currency of England is the Pound Sterling, or British pound. The central bank of the United Kingdom, where interest rates are set and monetry policy is carried out, is the Bank of England in London.
There is considerable debate as to whether the UK should join the Euro currency, which would replace the Pound. The relatively good economic performance has complicated the Blair government's efforts to make a case for Britain to leave the Pound Sterling and join the Euro. The British Prime Minister has pledged to hold a public ...
See also:Economy of England, Economy of England - Economic history, Economy of England - Economic sectors, Economy of England - Agriculture and fishing, Economy of England - Investing and banking, Economy of England - Manufacturing, Economy of England - Tourism, Economy of England - Currency, Economy of England - Regional variation | | | Economy of England, Economy of England - Agriculture and fishing, Economy of England - Currency, Economy of England - Economic history, Economy of England - Economic sectors, Economy of England - Investing and banking, Economy of England - Manufacturing, Economy of England - Regional variation, Economy of England - Tourism, Economy of the United Kingdom, Economy of Northern Ireland, Economy of Scotland, Economy of Wales, Economy of Europe, Economic geography of the United Kingdom, British banknotes, British coinage | | |
| | | Economy of England: Encyclopedia II - Economy of England - Currency
Economy of England - Currency
The currency of England is the Pound Sterling, or British pound. The central bank of the United Kingdom, where interest rates are set and monetry policy is carried out, is the Bank of England in London.
There is considerable debate as to whether the UK should join the Euro currency, which would replace the Pound. The relatively good economic performance has complicated the Blair government's efforts to make a case for Britain to leave the Pound Sterling and join the Euro. The British Prime Minister has pledged to hold a public referendum if membership meets Chancellor of the Exchequer Gordon Brown's "five economic tests". The tests are:
- Are business cycles and economic structures compatible with European interest rates on a permanent basis?
- If problems emerge, is there sufficient flexibility to deal with them?
- What impact would entry into the Euro have on the UK's financial services industry?
- Would joining the Euro create better conditions for firms making long-term decisions to invest in Britain?
- Would joining the Euro promote higher growth, stability and a lasting increase in jobs?
When assessing the tests, Gordon Brown concluded that while the decision was close, the United Kingdom should not yet join the Euro. In particular, he cited fluctuations in house prices as a barrier to immediate entry. The tests will be reassessed in the future. Public opinion polls show that a majority of Britons are opposed to joining the single currency at this time. The same polls point towards stronger opposition to the Euro in England than in the other UK nations.
Other related archives10 economically strongest areas in the European Union, 11th Century, 15th Century, 18th Century, 19th Century, 2002, 20th Century, Agriculture, America, Australia, Automobiles, Bank of England, Berkshire, Blair, British Prime Minister, British banknotes, British coinage, Buckinghamshire, Canada, Chancellor of the Exchequer, City of London, Common Agricultural Policy, Cornwall, Eastern Europe, Economic geography of the United Kingdom, Economic history of the United Kingdom, Economy of Europe, Economy of Northern Ireland, Economy of Scotland, Economy of Wales, Economy of the United Kingdom, England, Euro, European, Far East, Fleetwood, GDP, GDP per capita, Gordon Brown, Great Yarmouth, Grimsby, Inner London, Isles of Scilly, Kingston upon Hull, London, London Stock Exchange, Lowestoft, MG Rover Group, Manufacturing, Midlands, NUTS, New York City, North England, Oxfordshire, Pound Sterling, SAIC, Service industries, Tokyo, Tourism, United Kingdom, aircraft, arable, banking, business cycles, canals, chemical products, coal mining, computer, cotton, fishing, five economic tests, full-time equivalent, herring, industrial revolution, industrialised, insurance, intensive, livestock, locomotives, mechanised, opinion polls, pharmacutical, pounds, railways, referendum, ship building, shipbuilding, single currency, sole, textiles, tobacco
 Adapted from the Wikipedia article "Currency", under the G.N U Free Docmentation License. Please also see http://en.wikipedia.org/wiki |
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