The euro and Britain - Ali M El-Agraa

January 1 2002:
300 million Europeans cease trading in their local currency and fill their pockets, wallets, and bank accounts with a new pan-European currency - the euro.
European mints have produced over 65billion pieces of the currency, which armoured vans have transported to banks in even the most remote towns and villages of the 12 participating countries in the biggest European initiative since World War Two.
British business people, just like British politicians and - for that matter - the general public, are deeply divided on the desirability of Euro membership but it seems almost inevitable that Britain will join the single currency.
The debate about Europe has been a key governmental issue for several decades now, yet the subject is complex and largely inaccessible to the average person. The Euro and Britain sets out the essential theory to enable people to make informed decisions pending the forthcoming Euro debates, taking the reader through every aspect of the discussion clearly and comprehensively. The Euro and Britain is divided into three parts:

• Part one provides a general background, analysing the EU and Britain's membership within it.
• Part two concentrates on EMU, the euro and the European Central Bank which controls it, and the development and policies surrounding the euro.
• Part three discusses the problems concerning the system of operating EMU and the euro within the context of the UK. This includes macroeconomic considerations, the impact on banking and financial institutions, and consequences for UK trade.

Contributors come from: South Bank University, University of Leeds, City University Business School, University of Cambridge, University of East London, Vienna University of Economics and Business Administration, and the University of Turku in Finland.