Details

Banking on Sterling

Britain's Independence from the Euro Zone

von: Ophelia Eglene
104,99 €
Verlag:	Lexington Books
Format:	EPUB
Veröffentl.:	16.12.2010
ISBN/EAN:	9780739144121
Sprache:	englisch
Anzahl Seiten:	167

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Beschreibungen

Titelbeschreibung

Banking on Sterling: Britain's Independence from the Euro Zone, by Ophelia Eglene, provides an in-depth analysis of the British policy on the European Economic and Monetary Union (EMU) over the past twenty years. Eglene demonstrates how the Conservative government of John Major and the Labour government of Tony Blair implemented policies that had the same overriding goals. The first of their shared goals was to continue being involved in decisions on the remaining details of the EMU and to avoid discrimination in the European Union by appearing as a member state willing to embrace the full European project at an indeterminate point. The second goal was to address the conflicting preferences of domestic economic actors with an ambiguous policy aimed at buying time. Pressure on the British government came from both the business and financial sectors on the question of EMU membership. While the business community was divided on the euro, there was one sector, export-oriented producers, strongly in favor. The financial sector, for its part, needed more time to clearly assess where its interests lay, and it insisted that the government not rush a decision one way or the other. Banking on Sterling demonstrates that the government_no matter which party was in power_always had in mind the welfare of the financial sector. When the conclusion was reached in London that its financial sector would benefit more from an offshore position than as a member of the EMU, the British government provided both direct and indirect compensation to the export-oriented business sector that had definitely lost the battle for the euro. Ophelia Eglene's Banking on Sterling: Britain's Independence from the Euro Zone effectively shows the unequal influence of business and finance on the British economy.

Titelkurzbeschreibung

Banking on Sterling: Britain's Independence from the Euro Zone, by Ophelia Eglene, provides an in-depth analysis of the British policy on the European monetary union over the past twenty years. The author demonstrates that the British government always had in mind the interests of the financial sector. As London became a successful offshore euro center, the government increasingly compensated the export-oriented business sector that had lobbied for adoption of the euro. This study shows the unequal influence of business and finance on the British economy.

Inhaltsverzeichnis

Chapter 1 Tables
 Chapter 2 Figures
 Chapter 3 Abbreviations
 Chapter 4 Acknowledgments
 Chapter 5
 Chapter One: Britain and the Euro: The Policy of Non-Decision
 Chapter 6
 Chapter Two: Economic Actors and Monetary Policy
 Chapter 7
 Chapter Three: The Structure of the British Economy
 Chapter 8
 Chapter Four: The Conservative Party and EMU
 Chapter 9
 Chapter Five: The Blair Years and the Euro
 Chapter 10
 Chapter Six: Business and the Euro
 Chapter 11
 Chapter Seven: The City and the Euro
 Chapter 12
 Chapter Eight: Conclusion
 Chapter 13 Appendix
 Chapter 14 Bibliography
 Chapter 15 Index