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The United Kingdom did not seek to adopt the euro as its official currency for the duration of its membership of the European Union (EU), and secured an opt-out at the euro's creation via the Maastricht Treaty in 1992, wherein the Bank of England would only be a member of the European System of Central Banks. United Kingdom opinion polls showed ...
Edward Heath as Prime Minister who was staunchly pro-European led the UK into the European Communities in 1973.. When proposals for a European customs union were advanced after World War II, there was widespread political opposition in the UK: the Federation of British Industries and the government's economic ministries opposed British participation as the establishment of a common external ...
The United Kingdom's post-Brexit relationship with the European Union and its members is governed by the Brexit withdrawal agreement and the EU–UK Trade and Cooperation Agreement. The latter was negotiated in 2020 and has applied since January 2021.
Chequers—the official country residence of the prime minister since 1921—where the Brexit proposals were agreed by the Cabinet. The Chequers plan, officially known as The future relationship between the United Kingdom and the European Union (Cm 9593), was a UK Government white paper concerning Brexit, published on 12 July 2018 by the prime minister, Theresa May.
BBC News - The UK's five tests; The Guardian - Special Reports - British business, taking sides; The Independent - Britain has passed five economic tests for single currency entry, says report [dead link ] HM Treasury, e-Comms Team. "Estimates of equilibrium exchange rates for sterling against the euro". webarchive.nationalarchives.gov.uk.
In 2022, the United Kingdom's trade with the European Union accounted for 42% of the country's exports and 48% of its imports. [36] The United Kingdom has a highly efficient and strong social security system, which comprises roughly 24.5% of GDP. [4] [37] [3]
Relations between the European Union (EU) and the United Kingdom of Great Britain and Northern Ireland (UK) are governed, since 1 January 2021, by the EU–UK Trade and Cooperation Agreement (TCA). Relations trace back to the foundation of the European Communities , the European Union's predecessor, in 1957.
The 2015–2016 United Kingdom renegotiation of European Union membership was an unimplemented non-binding package of changes to the United Kingdom's terms of its European Union (EU) membership as a member state and changes to EU rules which were first proposed by Prime Minister David Cameron in January 2013, with negotiations beginning in the ...