This could be the precursor to a common currency. The British Government saw this as removing from its grasp an important policy weapon and threatening heavy unemployment. For example, if inflation in the UK proceeded at a faster rate than in the rest of the Community, British exports would become uncompetitive and would fall (imports would increase) and unemployment would rise. The appropriate Bretton Woods response would be a devaluation but EMU would preclude it. It might be possible to prevent disparate national rates of inflation but only at the expense of centralized control over items such as the money supply here the problem was one of diminished sovereignty.
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Style Name Meital Dohan
Style Birth; August 24, 1978
Style From; Ra'anana, Isael
Style Occupations; Actress, Comedian, Radio Host, Author, Activist, Musician
Style Relationship; Single
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