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Example research essay topic: Should Britain Adopt The Euro Part 2 - 1,573 words

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... of such transition are Decision the Governments assessment on EMU membership; Referendum UK electorate vote on joining EMU; Time of entry and start of transition. UK joins EMU. The euro-sterling exchange rate would be irrevocably fixed at the beginning of Retail Transition. Euro denominated retail financial services would start to be available from this point; Euro cash introduced and end of transition. UK euro notes and coins would be introduced.

All non-cash transactions would be denominated in euro; and Sterling ceases to be legal tender. End of dual circulation period Treasury (Third Outline National Changeover Plan). The timeline of the transition is presented in the following chart: (Third Outline National Changeover Plan). Total period of transition is scheduled for 36 months (see pic. 1).

The Third Outline National Changeover Plan gives the explanation of a phased approach to a changeover. The main criteria of choosing the phased approach were that the UK authorities studied the lessons of the euro introduction by other Member States (Third Outline National Changeover Plan p. 14). The Third Outline National Changeover Plan gives the detailed transition to the European currency in the UK. As it may be seen from the plan the crucial factor of the currency introduction is the nationwide referendum.

The changes of the public opinion of the UK population are very important for the euro adoption. The nationwide referendum on the issue is to be done. The public opinion of the UK citizens will be the factor defining the future of the euro currency in the Great Britain. Thus the results of the poll which was conducted in 2001 on the forecast of adoption the euro (pic. 2 show that 42 % of the respondents considered that the Great Britain would adopt euro in 10 years (BBC NEWS, Monday, 4 June, 2001).

The perspective for the British partners in Europe is not the best one. The main sources for a study will be current and historic documents of HM Treasury, current and archived media both British and European, the British Parliamentarian documents. The sociological reports on the population views will be of great importance for the dissertation preparation. Research Strategy and Methods.

It is necessary to make the deep research of the following crucial subjects in order to answer the main question of the dissertation: The history of the European integration since the WWII The role of the UK in the world/European economy. The role of the UK in the current economy of the Europe. The role of the UK in the modern European integration processes. The position of the UK authorities regarding the European integration. The plans of the British Government regarding the introduction of the European currency.

Possible political, economic events that may influence the decision of the UK authorities to introduce the European currency, ex. Enlargement of the European Union. The research will be conducted by means of study the historic documents in two main aspects. The first will be the comprehensive study of the history of the integration processes in Europe since WWII in order to understand the historic necessity of the modern process of the Europe unification.

This study will include the study of prerequisites of the current integration processes. This part of research will be based on the materials published in European press, historic governmental documents of the UK, Germany and other European countries; UNO, NATO and other international organizations. The main sources for this study will be archived issues of BBC, The Guardian, and other major European media. It is necessary to research the relations of the UK with other European countries in order to understand the historic position of the UK regarding the European integration. The main sources for this study will be intergovernmental agreements of the European countries regarding the European integration. The next subject to be studied properly is the economic state of the UK and the position of various UK political parties regarding the introduction of the common European currency.

This study is to be conducted by researching the UK newspapers, Internet media etc. The political processes such as enlargement of the European Union may encourage the decision of the United Kingdom to introduce the European currency. It is worth studying how such events may affect the UK decision. The process of the EU enlargement is going on.

It is worth exploring possible benefits and losses of the UK if the Great Britain a) a part of the European Monetary Union or b) if the UK is outside of the EMU by the time of possible EU enlargement. While preparing the dissertation it is necessary to find out what the UK will benefit of introduction the euro and what will be possible losses. It is necessary to take into consideration that the British sterling is a very strong currency. For a number of years it has been the real alternative to the US dollar in the international trade. A number of countries in Africa, former British colonies have the currency which is associated with the British sterling in this or that way. A number of former British colonies have the agreement with the UK to export their strategic stock via London Stock Exchange only.

These agreements are associated with the British sterling. Such agreements exist, for example between the UK and Ghana. According to the agreements signed between the UK and Ghana, Ghana took the obligations to export the cocoa beans only at a price defined by London Stock Exchange and all the transactions should be registered at the London Stock Exchange. It is naturally, the UK will loose some privileges connected with the British sterling. From this monetary point of view it is possible that the UK may loose its economic influence in Africa. It is worth studying the possible economic influence of the euro adoption by the UK on the countries of the 3 rd world.

The UK has been conducting the immigration policy aimed to protect its labor market. The United Kingdom has the unique geographic situation which enables the country to conduct specific immigration and monetary policy aimed to protect its labor market. On the other hand the adoption of euro will open the new perspectives for the UK. The future enlargement of the EU will give the access of the Member Countries to the new markets of Central and Eastern Europe. These are the huge markets and the UK may gain the complete access to these markets being a part of the common European monetary system. The importance of the Eastern markets on example of Ukraine was underlined by Z.

Brzhezinsky (Z. Brzhezinsky). At the same time the UK being a part of the unified Europe will not be able to conduct the monetary policy different from the policy of the European Union. In this situation the UK has the options either to become one of the leaders in the European policy or get into some kind of opposition to the European Union. In this situation it is obvious that the leadership in the unified Europe is more preferable for the United Kingdom than the opposition to its European neighbors. Timeline.

The timeline is presented in the chart Timeline for preparing the dissertation Proposal Defense and Conducting Research (by week) 1 2 3 4 5 6 7 8 9 10 11 12 13 14 File paperwork and schedule defense + Arrange all the preliminaries + + + Defend proposaRevise proposal, make correction if necessary + + + Meet the director and agree the schedule of research + + Data researcData analysis + + + Dissertation Writing and Defending (next semester, by week) 1 2 3 4 5 6 7 8 9 10 11 12 13 14 Outline the work + Meet with director to discuss outline and preliminary data analysis + + + Finalize the proposal chapters for the wor Write the results chapteSummary and conclusions chapter writinFinalizing the submission and scheduling the final oral defense + + + Printing and submitting the dissertation + + Dissertation defense + Revisions if necessary + Graduate + Conclusion. The topic of the current research is of great importance. The position of the United Kingdom, one of the most developed countries in the world will define the strategic balance in the world and in the Europe both in economic and political sphere. The decision of the British government on joining the EMU will influence the European and world market restructuring.

The proper study of the monetary policy of the most advanced European country will give better understanding of the international economic processes. Bibliography Hans peter K. Seller, The European Central Bank - History, Role And Functions, European Central Bank, 2004, ISBN 92 - 9181 - 505 - 5 Euro Preparations, HM Treasury, available at web Draft Managed Transition Plan, available at web David Currie, The Pros and Cons of EMU, UK Membership of The Single Currency, An Assessment of the Five Economic Tests, October 1997 available at web UK Membership of the Single Currency: An assessment of the five economic tests (Cm 5776), available at web HM Treasury, Third Outline National Changeover Plan, June 2003, available at web Labour Poll Boost on Europe, BBC NEWS, Monday, 4 June, 2001, available at web Z. Brzhezinsky, Ukraine and the World, Business Unlimited, available at web


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Research essay sample on Should Britain Adopt The Euro Part 2

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