... signify lost of sovereignty (more specifically lost of economic sovereignty). 3. If lost of sovereignty (if the UK does join the Euro), could be justified by the many advantages that the Euro has to offer. 4. Whether or not, in this era of Globalisation, the UK government has already lost its economic sovereignty. Negative effect of a fixed exchange system: If the United Kingdom will decide to take part to the Euro, it will also have to rejoin the EMR, as specified in the Maastricht Treaty and as underlined by Gerrasimos Thomas, the European Commission's Economic Affair spokesman, " if the British people decide to seek membership of the Euro, they will have to abide by the treaty criteria which include the joining of the EMR" (Sunday Telegraph, 11 February 2001). This join of the EMR, in simple words, mean that Great Britain will have to take part to a fixed exchange rate system, which ...

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