United Kingdom Currency

Páginas: 2 (288 palabras) Publicado: 13 de enero de 2013
Why United Kingdom does not use Euros?

Introduction

The Euro (€) is the currency used on Europe and it is the official currency in the euro zone.
17 of the 27 member ofthe European Union adopted in 2002, these countries Autria, Belgium, Cyprus, Estonia, Finland, France, Germany, Greece, Ireland, Italy, Luxembourg, Malta, The Netherlands,Portugal, Slovakia, Slovenia and Spain.

The Euro is used everyday by 332 millions of European citizens and 332 million Europeans more. Only in Africa everyday 150 million peopleuse it and 175 million worldwide.

The largest first currency is the United States Dollar. On September of 2012 it has €915 billion in circulation, but the Euro has the highestbanknotes and coins in circulation beating the United States Dolar.

The name of the Euro was chosen in 1995 and was introduced to the market as accounting currency on 1999.In United Kingdom the currency used is the Pound Sterling (£). The name abbreviated it is called Sterling. The currency code of this currency is GBP.


A single currencyfor Europe

Alter the Second World War some Europeans countries started to think about create together a large community which would create a big market and give someadvantages and benefits to the countries which belongs to the community.

The first step was to create a new currency would make the trade easier between the European countries. Thecurrency already came up in the 1960s but was introduced in the Werner Plan in 1970 also. The European Monetary System included exchange rates between the countries whichparticipated in the community.

Britain applied for the membership of the European Union in 1961, but it was not allowed to join after twelve years and after two applications more.
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