If you are experiencing problems downloading PDF or HTML fulltext, our helpdesk recommend clearing your browser cache and trying again. If you need help in clearing your cache, please click here . Still need help? Email firstname.lastname@example.org
Joining a reformed EMU would be a good option for Britain, though there are reasons for and against. Reasons against include the possible need for monetary policies in Britain which are different from those in Europe; and the possibility that European policies might be ill-chosen from a general European point of view. But opposition to British EMU membership is not necessarily the conclusion to be drawn from this. Optimal policy would be for Britain to negotiate entry into the monetary union in a process which would promote certain necessary reforms in the latter. The main lines of reform needed are: clear legal subordination of the European Central Bank to the Council of Ministers and the European Parliament; a broader mandate for the ECB; and moves towards a significantly larger central EU budget.
Soundings pioneers thoughtful, critical ideas on culture, society and politics. That's why leading left thinkers from Britain, Latin America, Asia, the United States and Europe debate their ideas in our pages.
'Deeply thoughtful about the public life of politics and the intimacy of our private lives and how they interconnect. Soundings is one of the few places where you read ideas which can change your mind.' Madeleine Bunting