· Even if there are long-term benefits, are business cycles and economic structures compatible so that the UK and others in Europe could live comfortably with Euro interest rates on a permanent basis?
             · If problems do emerge, is there sufficient flexibility to deal with them?
             The bottom line, will joining EMU help to promote higher growth, stability and a lasting increase in jobs?
             While nothing has been ruled out, there are formidable obstacles to the United Kingdom joining the single currency. If the UK Government were to decide that the United Kingdom should not join EMU, they could still join later.
             One reason why the UK government has delayed its decision is that it is not yet clear whether Britain's economic cycle is moving closer to Continental Europe.
             In the past, the UK has more closely followed the US economic cycle.
             But there is some evidence that the effect of the Asian crisis - which reduced growth in both the UK and Europe - has brought the economic cycles closer. And so
             ...