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Britain & Canada & their Large Neighboring Monetary Unions (Paperback, Illustrated Ed)
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Britain & Canada & their Large Neighboring Monetary Unions (Paperback, Illustrated Ed)
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A traveller who has visited both Britain and Canada will no doubt
have noted that both Britain and Canada share the same head of
state on their banknotes and coins: Queen Elizabeth II. Of course,
though the Queen is an important symbolic figure to the United
Kingdom (UK), the Queen plays a less prominent role in the Canadian
national identity. Yet one should not underestimate her importance.
Besides this observation there are a number of more substantial
similarities that these two countries share. They are both located
next door to a neighbouring monetary union that has a leading
currency that has been adopted by other countries in an attempt to
increase their economic prosperity. Britain is confronted with the
European Union (EU) and its Economic and Monetary Union (EMU) or
the 'eurozone' an area of twelve EU Member States in which the Euro
is the single currency. Canada's neighbour to the south is the
United States of America (US) that has the world's leading currency
which has been adopted by other states in the region and beyond.
One can differ in opinion over whether the US is a monetary union
in the conventional sense, but there is no doubt that the US is a
currency union, one of its many features as a federal state.
Furthermore, there have been talks about creating an actual North
American Monetary Union (NAMU) which would expand the use of the
dollar into Canada and Mexico. At a time in which the discussion
revolves around the future of (smaller) national currencies, this
special issue looks at the question of monetary integration for the
cases of Britain and Canada. This book adopts a comparative, multi-
and interdisciplinary perspective on these matters.
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