In the initial aftermath of the financial crisis, it was widely assumed that currency flexibility gave the United Kingdom an advantage over eurozone members like Spain. But Spanish exports recovered more quickly than British exports, and inflationary pressure via the exchange rate is now a major constraint on future British monetary policy.
甚至在一些较大的国家，人们也在重新估计加入货币同盟的成本和收益。在金融危机爆发之处，人们普遍认为英国的货币灵活性使它具有某种优势，是欧元区成员国如西班牙等国所不具备的。但西班牙的出口比英国的出口复苏得快，而由汇率所传导的通胀压力目前已成为英国未来货币政策的主要制约因素。