Emu Study Ser.

This publication is part of a set of 18 documents which have been prepared by H.M. Treasury to inform the assessment of the Government's five economic tests for Economic and Monetary Union (EMU) entry into the euro area. It focuses on the microeconomic implications of EMU entry for UK business and addresses five key issues: a comparison of UK and EU industrial structures; a framework for assessing short, medium and long-term impacts; implications for cross-border sectoral trade and investment, as well as foreign direct investment (FDI); longer term evidence of impact on competition and specialisation and the implications for incidence of shocks; and effects on different industries depending on specific sectoral characteristics.