Generate text that refutes this claim: For Britain to join the single currency is simply unthinkable; jobs will be lost  The EU creates economic conditions that threaten jobs. As explained by Anthony Browne in The Euro: Should Britain join?, "Joining the Euro would damage the British economy with 'one size fits all' interest rates, and so destroy jobs."1 This is not merely a product of anti-EU propaganda created by the British tabloid press; The evidence speaks for itself; "In 2000, (Euro was launched 1st January, 1999) unemployment in Euroland averaged about 10 per cent, compared to under 6 per cent in the UK" Britain must also learn from the mistakes of history; "Past experience has already shown us that locking ourselves into inappropriate interest rates destroys jobs. After we joined the Exchange Rate Mechanism, 100,000 businesses went bankrupt and unemployment doubled before we were finally forced out in 1992." Repetition of this is to be avoided at all costs and by Britain staying out of the Euro.  1Browne, A., 2001, "The Euro: Should Britain Join?"
conomic policy economy general international europe politics government house
No; Unemployment will rise if Britain stays out of the single currency. Britain's indecision over joining the single currency has already discouraged foreign investors from doing business with her, and this will only worsen if she stays out, thus reducing the number of jobs there. Britain has to be in the single currency to retain a presence in the European business scene if she is to prosper and make any profit at all. As explained by Anthony Browne in The Euro: Should Britain join?; "Without access to the single currency zone, foreign investors who are here will move out, closing factories and businesses; new ones will set up in Euroland in preference to the UK." London's position as the European financial centre has already been depleted by Frankfurt and this situation will only deteriorate if Britain stays out of the Euro. The pound is no longer a source of hope for Britain. 1 Anthony Browne, The Euro: Should Britain join? Page 52