... next. At any given time the German economy may be in a boom, while the UK is in a deep recession. What is more within the UK, there may be areas of boom and areas of recession, for example London may be in a great recession but the midlands may be booming, with high employment and a stable prices. There are rich and poor regions. If the power of interest rates and certain policies are handed over to the European central Bank in Brussels then we loose a lot of power on decision-making. For example if only our country is in a recession and other countries are booming, then we will have to wait until the more of the EMU countries seem to be heading toward a recession for the Central Bank to take any action. This is detrimental to the future of the economy. If for example we were ...

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