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Will the United Kingdom Join the Euro Club ?


Will the United Kingdom Join the Euro Club?                                                                                                                             Word count 2590

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This assignment is answered on the basis of that the UK has not joined the EU yet and the decision of the UK to join or not join will be critically evaluated here. Actual scenario of the present situation, the Brexit and the current political, economic and social aspects of the decision UK has already made, to exit from EU will not be discussed here.

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Summary of the Case
UK is yet operating independently from the EU club where as their choice of joining with them or not depends on number of factors. These factors mainly consists of Political, Economic and Social factors. These factors will be discussed in detail here and all the facts affecting the UK to join the EU or not will be discussed in details. Finally the conclusion will be given whether it is advisable for the UK to join with EU.

European Union (EU) is a group of countries that have entered into an economic and political partnership & agreement which is located in Europe. It consists of 27 countries who adopted the same legal tenders and used the common currency of euro. EU was establish in 1999 and Austria, Belgium, Cyprus, Estonia, Finland, France, Germany, Greece, Ireland, Italy, Latvia, Lithuania, Luxembourg, Malta, the Netherlands, Portugal, Slovakia, Slovenia, and Spain are the members of the European union. But United Kingdom (UK) which consisted of Scotland, Ireland, England & Wales had not adopted to the European Union and have continued to work along both economically and politically. They use their own currencies instead of the common euro and serve different aims rather than getting together for the betterment of the Euro zone. UK have not yet joined with the European Union and holds their responsibilities separately.
UK, being a standalone country from political and economic aspects, was in need for a “one world economy system” which is led by the currency “Sterling”. Thus when the EU was formed, UK was not so fond of the cartel, resulting the UK not joining with them. But the advantages enjoyed by the EU countries were vast. Even their common currency “euro” became a popular currency among the world and also their joint power in many fields including the armed forces and nuclear powers resulted to be best among the world. EU directly competed with USA which was a task where those individual countries could never attend individually. Thus the power of EU was more than enough for the UK to consider their joining decision.