International Financial institution and markets Essay

planetary Financial institution and markets - Essay ExampleThe report seeks to identify various factors which are considered as of usefulness as well as of disadvantage for the UK to enter into such an agreement of silver union. It similarly deals with whether the Euro could comforter the US dollar as the major currency in the global market.2Euro is considered to be a currency that is widely used by the European coalition Institutions and it is said to be the official currency for euro zone. Euro zone comprises 18 member states out of the 28 member states that is said to constitute the European Union such as Spain, Slovenia, Netherlands, Malta, Portugal, Luxembourg, Greece, Germany, France, Finland, Estonia to name a few. at that place are also other five European countries that use the currency Euro and as a consequence is said to be used by 334 million Europeans currently. Moreover it is considered that 210 million people across the universe including 182 million from Afric a use currencies that are said to be pegged to the currency euro. Euro is considered to be the second largest reserve currency in the globe after the US dollar. It is also considered as the second most traded currency in the universe after the US dollar. Euro is considered to be a single currency arrangement which came into force between members of European Union in the year 1999. The hint of a single currency is that there are no different national monetary policies. In this regard, the Central Bank of Europe was set up which used to conduct wide monetary insurance policy and also sets the interest rates in Europe. This resulted into a loss of different national monetary policies, swop rates, and interest rates. In this regard, the intention of Germany to introduce an economic policy to fight against unemployment is considered as very thorny as this role can only be played by the European Central Bank.There are numerous advantages to sector of financial services with regard to Britain joining the Euro. In the absence of blow exchange rate, the relative