Five economic tests
The five key tests for the UK to Join the Euro
The economic tests specified by the current UK Labour government that must be satisfied before a decision on entry to the Euro can be made. In theory, these tests will be distinct from any political decision to join.
- Are business cycles and economic structures compatible with European interest rates on a permanent basis?
- If problems emerge, is there sufficient flexibility to deal with them?
- What impact would entry into the euro have on the UK's financial services industry?
- Would joining the euro create better conditions for firms making long-term decisions to invest in Britain?
- Would joining the euro promote higher growth, stability and a lasting increase in jobs?
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