Part one of term paper
At their last summit in Madrid, the leaders of the European Union confirmed their intention to press ahead with Monetary Union according to the timetable and conditions laid out in the Maastricht Treaty. While the summit also filled in some of the detail of the transition to a single currency, including christening it with the name of the "E ...

Part two of term paper
... the single currency has been introduced. Yet many people, both in the UK and elsewhere, still doubt the advisability of the whole enterprise. They argue that, far from enhancing Europe's economic performance by reducing transactions costs and eliminating exchange rate uncertainty, a single currency will lead to higher levels of unemployment in some parts of Europe because countries will no longer be free to devalue their currencies in order to maintain their international competitiveness. Are t ...