The United Kingdom of Great Britain is a constitutional monarchy, and consists of four countries—England, Northern Ireland, Scotland and Wales. The country’s total area is 243,610 square kilometers, and population of more than 62 million.
UK joined the European Union on January 1, 1973, but it kept its own currency—the pound.
The country has one of the strongest economies in Europe (after Germany and France) and in the world, while London is the Europe’s largest financial center. UK was the world’s first industrialized country. Shipbuilding, coal mining, textiles and steel production industries were quickly developing, which made it a top economic force worldwide. During the 20th century, these industries’ production declined due to the two world wars, drastically decreasing its production. However, the pharmaceutical industry, banking, insurance, tourism and other sectors are so well-developed that the country remains a major power, keeping the sterling strong.
Ever since the idea of the euro was born, UK has been in a constant opposition of replacing its pound with it. It kept the pound even after it became a member of the EU.
Despite the controversial opinions on the euro effect on the UK market, the country does not plan to replace the pound by the single currency, yet.
Specialists believe the euro would have a positive, stabilizing impact on the UK economy and more specifically on the trade, and stock market.
Some say the single market will benefit from the euro as it will reduce the exchange currency cost for businesses, travellers, etc.
In contrast, in 2003, five economic tests were made to see if the euro would be beneficial for the country. Four of the tests were not passed. Skeptics also fear that adopting the euro will create debt among the British people.
| Date | YES | NO | Unsure | Number of participants | Held by | Ref |
| 9 – 10 June 2003 | 33% | 61% | 7% | 1852 | YouGov | [39] |
| 10 – 15 February 2005 | 26% | 57% | 16% | 2103 | Ipsos MORI | [4] |
| 11 – 12 December 2008 | 24% | 59% | 17% | 2098 | YouGov | [5] |
| 19 – 21 December 2008 | 23% | 71% | 6% | 1000 | ICM | [7] |
| 6 – 9 January 2009 | 24% | 64% | 12% | 2157 | YouGov | [6] |
| 1 – 4 May 2009 | 23% | 75% | 2% | 1002 | ICM | [8] |
| 17 – 18 April 2010 | 21% | 65% | 14% | 1433 | YouGov | [40 |
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