Sample Essay
The business world benefits from the reduction of the cost of exchange rates within the euro zone. Empirically, cost reduction in exchange rate accounts to lees than 0.5%. This reduction to business persons and removal of exchange rate charges for companies which wishes to export goods and services to Europe and the European Union zone are two major advantages for Britain. This reduction in the cost solves a major challenge that engulfs the export scenario, since it is usually the main challenge faced by the exporters (Rawlace 1995). But this waiver is only dependant on the economic performance and progress of their own countries. In this view, the most beneficial businesses are in the category of the large scale like multi-national corporations, which have large volume of transactions costs and transact in bulky withinEuropeenvironment (Kali 2005). In that regard, it is seen as a way used by these large scale corporations to free themselves from these burdening costs that have a bearing on their profit margin. Hence in this perspective domestic and small scale operators have very little to gain in the waiver in relation to joining euro.
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