 British Business and EMUMark E. Duckenfield Chapter 4 in Business and the Euro, 2006, pp 143-185 from Palgrave Macmillan Abstract: Abstract This chapter examines British business associations’ political positions and their strategies towards European monetary integration during the 1990s. I argue that three variables influenced the evolution of business associations’ attitudes towards economic and monetary union (EMU) from the Treaty of Maastricht until the British decision to opt-out of the first wave of EMU in May 1998. The first is the decentralised nature of the British system of industrial organisation which pushed business associations to promote specific, technical policies that would exclusively benefit their own members rather than more generalised macroeconomic policies with a less restricted group of potential beneficiaries. The second is the decentralised political organisation of British business, which meant that the leaders of associations tended to make narrow evaluation of policies rather than considering their broader implications. The third is the governing party’s stance towards monetary union, a stance which to a great degree was determined by the party’s ideological divisions. Keywords: Exchange Rate; Interest Rate; Monetary Policy; Monetary Union; Maastricht Treaty (search for similar items in EconPapers) There are no downloads for this item, see the EconPapers FAQ for hints about obtaining it. Related works: Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text Persistent link: https://EconPapers.repec.org/RePEc:pal:palchp:978-0-230-62724-6_5 Ordering information: This item can be ordered from Access Statistics for this chapter More chapters in Palgrave Macmillan Books from Palgrave Macmillan |
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