Part one of term paper
Economic and monetary union promises both currency stability and a move towards further integration of Europe. Deeper monetary co-operation would strengthen political bonds between EU member states and protect a common market. Thus, since the 1960's, the EMU has been a recurring goal of the European Union whilst its member states have made ...

Part two of term paper
... is striving to create a Europe of global superpower by consolidating its economic strength. Furthermore, some might say that Germany has for a century tried to unite Europe, creating a super-state in which German influences would be great. But what is in a monetary union for Great Britain? Below are discussed the pros and cons of monetary union from a British perspective, and the choice for Britain. ARGUMENTS 'AGAINST' THE UK JOINING THE EMU TRANSITIONAL COSTS The most significant economic cos ...