Essay: 80% of Businesses in UK Are Domestic Producers

15 Oct

Essay: 80% of Businesses in UK Are Domestic Producers

Sample Essay

Empirically in Britain today over 80% of businesses are domestic producers (Marvin 1997). Hence under this case as depicted in the economical terms, most businesses in UK are not likely to gain much from the business merit clause as stipulated by EU.

 Therefore any agitation for ditching pound in favour euro from the business community side is based on the individual interests and reasons rather than business or economically oriented ones. It should be noted that UK has performed and progressed better since it dropped European Exchange Rage Mechanism, (Lether 2000) than those European nations that used Maastricht convergence while preparing for the Economic and Monetary Union since the year 1992. This fact nullifies ideology of clinging for euro that would increase the business based opportunities and economic growth. Although that is not to say that there is totally no good in euro to UK, but the goodness is a little bit at a low level or minimal that cannot seem to benefit the Britain much economically. Hence UK should weigh carefully in order to take decision for or against euro in relation to economical or business advantage (Lethe 2000: 186).

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