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The United Kingdom

In: The Euromarkets and International Financial Policies

Author

Listed:
  • David F. Lomax
  • P. T. G. Gutmann

Abstract

The external financial policy of the UK over recent years has been very much affected by the country’s historic situation involving the transition from a relatively strong economy with powerful links with the sterling area to a much weaker economy linked increasingly to the EEC. Changes have necessarily taken place regarding the links with the sterling area, in terms of sterling as a reserve asset, the limitation on the size of the sterling area and capital exports allowed to that area. The country’s economic history, of relative weakness and substantial balance of payments constraints, has influenced the way in which external financial policy and exchange control have developed. Significant commitments to the EEC have been made in recent years, but the authorities have so far been unable and unwilling to adopt the full commitments of the Treaty of Accession.

Suggested Citation

  • David F. Lomax & P. T. G. Gutmann, 1981. "The United Kingdom," Palgrave Macmillan Books, in: The Euromarkets and International Financial Policies, chapter 6, pages 102-125, Palgrave Macmillan.
    • Handle: RePEc:pal:palchp:978-1-349-03882-4_6
    DOI: 10.1007/978-1-349-03882-4_6
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