UK membership of the EMS : time for another look?

Stewart, Bill (1983) UK membership of the EMS : time for another look? Quarterly Economic Commentary, 9 (1). pp. 42-43. ISSN 0306-7866

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    Abstract

    The UK is a member of the EMS but does not participate in its most important element, the exchange rate regime. The UK expressed a willingness to join when "conditions were appropriate" but so far has never found any set of conditions to be appropriate. Should the UK now join the EMS in the expectation of enjoying greater exchange rate stability against a group of countries which form its major trading partner by far - accounting for 43% of its visible trade in 1980?