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Overview
This text critically examines the relationship between the UK and the EU, focusing upon the debate between further economic integration in the guise of Economic and Monetary Union (EMU) and a series of alternative future scenarios for the UK within a multi-speed EU, or even outside of the EU altogether. The text is unique in several respects. Firstly, by adopting a centre-left critical analysis of the EU, secondly, by reviewing both theoretical and practical aspects of EMU, and thirdly, by expounding a series of alternative relationship structures between the UK and the EU.This important book provides an analysis of the economic relationship between Britain and the EU and discusses the future direction in which this relationship might develop. It examines the historic and contemporary costs and benefits of EU membership and assesses whether this has been a burden or a benefit for the British economy. In addition the authors assess current trends and developments, most notably in the area of participation in Economic and Monetary Union (EMU) and the consequences that this would have. Questions of fiscal federalism, the development of a minimum level of social policy for Europe, together with the likely impact on business and trade unions are also considered. The authors then discuss potential future scenarios, including a more flexible loose membership arrangement or complete withdrawal, and the affect that a range of options might have on the British economy.