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Essay / Research Paper Abstract
7 pages in length. Nearly one thousand years of monetary consistency is a long time for any currency to exist, which is why Britain is so resistant to accepting the new and unifying aspect of the European Euro expected to take hold and challenge even the most secure of global currencies, including the American dollar. After World War II, nearly every global currency felt the detrimental impact of postwar attempts to once again bolster the world's economy, with the Bretton Woods system at the forefront of this most difficult time. Now that the Euro is destined to become the primary standard of European currency, Britain continues to stand firm upon its conviction that it will not surrender the pound sterling for another monetary system it deems as a very real concern to British strength; however, speculation contends that Britain's political and economic influence throughout Europe will remain peripheral if it remains outside the Euro. Bibliography lists 9 sources.
Page Count:
7 pages (~225 words per page)
File: LM1_TLCEuroB.rtf
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Unformatted sample text from the term paper:
Euro expected to take hold and challenge even the most secure of global currencies, including the American dollar. After World War II, nearly every global currency felt the detrimental
impact of postwar attempts to once again bolster the worlds economy, with the Bretton Woods system at the forefront of this most difficult time. Now that the Euro is
destined to become the primary standard of European currency, Britain continues to stand firm upon its conviction that it will not surrender the pound sterling for another monetary system it
deems as a very real concern to British strength; however, speculation contends that Britains political and economic influence throughout Europe will remain peripheral if it remains outside the Euro.
"For the first time since the fall of the Roman Empire most of Europe has a single, common currency. The US dollar faces the first challenge to its hegemony
since it displaced the British pound sterling as the worlds most important currency after the First World War. However, if the Euro is to assume a wider role it
will have to flourish in its own continent and survive challenges to the stability of European economies first" (The Euro - Europes Single Common Currency). II. UNDERSTANDING THE PAST
In order to understand the urgency with which Britain is resisting the Euro from overtaking the pound sterling, as well as the political
and economic impact this will have, it is important for the student to first understand one of the most influential events in Britains monetary history. Recovering from the World
War II was no easy feat. The battle, which was the largest and most expensive in history, proved to be a physical and moral albatross around the political necks
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