The reason for this is the following：
First, the haze of "pound politics" has not disappeared.
The European Economic and Monetary Union (EMU) requires member countries to give up their monetary units and use the euro as a means of mutual payment, which touches on the long-standing "pound politics" in British history.
Currency represents a country's sovereignty, and its strong monetary payment ability is a symbol of a country's strength and international prestige. As the monetary unit of Britain, the pound has been the main means of settlement of international trade since the rise of modern capitalist civilization, which fully shows the great national strength and lofty international prestige of the British Empire and is closely related to its rise and fall.
Now, if Britain joins the euro monetary system, the pound will not only be on an equal footing with the German mark and the French franc, but also lose its proud superior historical position. More importantly, they will be completely replaced by the euro, a multinational currency with uncertain prospects, thus becoming history. This is not a heavy blow to the traditional beliefs and national feelings of the British.
Second, the confidence and dignity of the British nation.
The British have always attached great importance to their sovereignty and independence, and their long-standing sense of superiority as a great power has filled them with national confidence and dignity. For a long time, the British people's understanding of "integration" is that integration is definitely not the transfer of national sovereignty, but a voluntary and active cooperation between independent sovereign countries. Therefore, the Conservative government and the Labour government have always adhered to the principle of sovereignty and opposed super-nationalization. The most fundamental sovereignty of a country is its economic strength. If we join the economic and monetary union now, it means that Britain will lose the right to manage the national economy, which is incompatible with Britain's concept of sovereignty.
Third, the uncoordinated market economic system.
European countries have considerable power to manage the market economy, and the government also has far-reaching influence. In Britain, which advocates market and free competition, people pay more attention to the regulatory role of the market in the economy. Monetary policy is one of the basic economic policies of the country. The unification of monetary policy of economic and monetary union will inevitably require the convergence of economic policies of all member States. However, the economic cycles of Britain and European countries are inconsistent and their economic policies are quite different. Therefore, Britain's hasty accession to the EU will inevitably affect the well-developed economy.
Fourth, the special relationship between Britain and the United States.
The British economy is closely related to the American economy and has great economic benefits. About 44% of American investment in Europe is in Britain. British investment in the United States is 654.38+0.24 billion pounds, in the European Union it is 9.4 billion pounds, and in other parts of Europe it is only 565.438+0 billion pounds.
After the war, Britain became a second-rate country, which made Britain depend on the United States in international politics and economy. Therefore, maintaining special relations with the United States has become a major diplomatic strategy of Britain. Britain hopes to use this relationship as a bridge between Europe and America to maintain its status as a great power. However, joining the euro zone and deepening European integration may undermine its special relationship with the United States.
The future of the verb (verb) UEMOA is uncertain.
The emergence and development of the euro is an unprecedented undertaking. It has no previous experience to learn from, so it can only cross the river by feeling the stones. The future of the euro itself is uncertain. Once it fails in a few years, it will cause a serious global financial and trade crisis. People will sell euros for dollars, and Europe will return to the history of destructive national hostility. The future of the euro is so uncertain that the British, who have always been conservative and cautious, never dare to be the first in the world.
Britain's consideration of its international financial status.
London, England, as the world financial center, has always been the focus of capital attention all over the world. International capital flows in and out of Britain frequently, and many multinational companies have a large number of markets and capital operations in Britain. The status of a financial center has brought countless benefits to Britain. It is really necessary for Britain to give up the pound and join the euro. In addition, as the issuing country of the British pound, Britain enjoys many benefits in the balance of payments settlement. If once it joins the euro zone, the Bank of England will lose a series of powers such as determining interest rates, and the existing excellent situation of the pound will no longer exist. The Bank of England will also lose most of its power and become a regional branch of the European Central Bank.
At the same time, there are various provisions in EU law, but there is no provision for leaving the euro zone. This also means that once you join the euro zone, it is difficult for countries to get away with it.
Although Britain was severely weakened after the war, it became a second-rate capitalist country. However, it hopes to restore the dream of "the sun never sets on the empire" one day, but it has never changed. After joining the euro zone, Britain will be proud of all countries, lose everything and become a completely equal country with other EU members. All this will have a great impact on Britain's current status and is also very unwilling.