This, in turn would have a negative effect on the labor market, resulting in a sharp increase in unemployment.
While part of the goal of the EMU is for market convergence that will country-specific implications of EMU economic policies, there is no evidence that this will be true of the mortgage markets where people physically live, so Britain would be left with economic instability.
What type of British companies would most likely benefit from joining EMU?
Any company that exports to another Euroland country will no longer have the cost of converting one national currency to another. Multinationals also save money if all their subsidiaries trade in the same currency. Further, companies won't have to worry about exchange rate fluctuations and all will have access to a larger, more transparent market that will bring down prices and make firms better able to compete internationally.
Some believe that joining the EMU would help small -- and medium-sized enterprises and the tourist industry the most. Unlike larger companies, many have not had access to customers in Euroland or access to the Euro investor market. So, for the first time, small-and-medium sized companies...
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