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 …

…one of the aims of the Single European Market is to allow free movement of labour would in reality be difficult due to cultural and language barriers from one country to another. This in comparison to the US where there are no language barriers and if a person loses their job they can just move state and find a new one. This means that the labour force in the Single European Market is still inflexible.