This publication is part of a set of 18 documents which have been prepared by H.M. Treasury to inform the assessment of the Government's five economic tests for Economic and Monetary Union (EMU) entry into the euro area. This study describes the framework upon which the assessment of whether membership of the European single currency is in the UK's national economic interest will be based. This framework seeks to provide a comprehensive and rigorous analysis of the evidence and issues, giving full reflection of the potential costs, benefits and risks. The five tests seek to define whether a clear and unambiguous case for entry can be made, relating to the following criteria: convergence; flexibility; investment: financial services; growth, stability and jobs.
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