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Would effect would joining the EMU (Eurozone) have on domestic business investment?

In the case of the UK, if it joined the EMU and adopted the Euro as its currency, what would happen to *domestic* business investment. I know the effect on investment from abroad, but this is a bit more tricky. If anyone could give me any pointers, perhaps using the evidence of what happened when other EU countries joined the EMU, I'd really appreciate it.

Public Comments

1. More capital mobility will give some positive results (may be not for UK). Some currency risks will be removed (so a bit cheaper operations). Hardest thing is inability to control European central banks for pursuing local economic policy - monetary tools will be lost. Some countries could experience hardships - due to EUR appreciation export falling and import increases.