THE Government would have us believe we will only join the euro if it is in the economic interests of Britain to do so - hence the so-called five economic tests, the most important of which is "Is the British economy synchronised with the rest of Europe?"
This is important because, once inside the euro, Britain will have to survive within the "one-cap-fits-all" economic policy, which has driven Germany into recession.
With European unemployment at more than eight per cent compared to Britain's four per cent, the eurozone's virtually negative GDP growth compared with Britain's three per cent-plus next year (according to Gordon Brown), with eurozone interest rates at two per cent compared with Britain's 3.75 per cent, anybody with half a brain can see that our economy is not synchronised with Europe.
So why does it take 18 volumes of reports (which the Cabinet were given three weeks to read) plus an all-day meeting to agree on a "wording" to deliver to the British people on the current situation regarding Britain's proposed euro membership?
There can only be one answer - President Blair is determined to take us in regardless of our interests purely for the benefit of his own political ambitions. The only obstacle in his path is the British people who, according to opinion polls, will deliver a "no" vote should there be a referendum.
Long may that situation continue.
Tony Taylor,
Grassholme,
Woodthorpe, York.
...THE euro dissenters' are doing a great job for the economy. They are going to ensure all our pensions (including their own) will be reduced according to the laws of simple arithmetic.
The euro was worth about 60p a year ago; now it is worth more than 70p. The pound is already on its way down. If the Chancellor can temporise - either by insisting on the "five tests" with its perplexing 2,000 pages of difficult script or by placing the decision to convert in the hands of the Bank Of England (which he has already done) - sterling will continue its journey down and will probably end up with the euro being worth 80p or more.
There is no doubt that the change will take place and the idea that we fear being ruled by Europe is "bogey man" nonsense.
Be prepared for the conversion in two or three years' time when all our pensions will be at least 20 per cent lower. (If Gordon Brown can hold on longer, sterling will buy even fewer Euros).
Public spending will go down "at a stroke" - but it will be due to a smaller equivalent pay-out to pensioners.
David Morris,
Priory Street, York.
Updated: 11:34 Thursday, June 12, 2003
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