The Eu And Single Currency Market

INTRODUCTION

Since the introduction of the Euro in 2002, there has been a lot of manage in the UK on whether or not Britain should join the one currency. For as long as the debate is on, the status quo is that Britain ashes outside the euro zone. What effect does this have on the UK car manufactures, whose 80% of total car export has Europe destination? If Britain adopts the Euro, will it be of any advantage to the car industry?

To look these issues, we shall look at the evolution of the European alliance; look the contributions made by the UK car industry to the economy; abridgment of the external environment of the UK car industry using infestation analysis; Porters five forces and conclusion.

THE EU AND SINGLE CURRENCY MARKET

The scotch history of the European Union dates back to the end of the atomic number 42 World War when in 1951, the German and French blacken and Steel production were merged under the European combust and Steel friendship (ECSC).

In 1957, the European Economic Community (EEC) was formed by the signing of the Treaty of Rome for the purposes of creating a common market with completely free trade amongst members. in all products, and completely free movement of labour, endeavor and capital. The United Kingdom joined the EEC in 1973.





The wholeness market was introduced under the Single European Act 1993. This created the worlds largest job area. and the free movement of goods, capital, people and services.

In November 1993, the Maastricht Treaty introduced the terminus European Union. The Treaty contained an agenda for Economic and Monetary Union (EMU) and the introduction of a single currency by 1999.

precedent to the EMU, there was the Exchange Rate Mechanism (ERM) introduced in 1979, which created flip-flop rate stability within Europe by establishing an transposition rate band within which exchange rates where allowed to fluctuate. The UK joined the system in 1990, but opted out on kinfolk 16, 1992 (Black Wednesday) (Sloman J. 2004)....If you want to get a full essay, order it on our website: Ordercustompaper.com



If you want to get a full essay, wisit our page: write my paper