A Brief Description of the Pros and Cons of Joining the Euro, and the Problems That May Be Faced by the UK in the Future

There are several arguments as to why the UK should adopt the euro but there are also several arguments as to why we shouldn't. Some people argue that jobs are being lost because of the decision to remain with the pound for the time being. Companies such as Matsushita, Hitachi, Canon and Sony have all cut jobs or moved production to other parts of the world because of the high rate of sterling against the euro. This means that the UK is less efficient and isn't maximising its labour, this will have a negative impact on the balance of payments. …