OVER the weeks I have read letters about the EU and the Euro and should like to express my views.

I am not anti EU. I am a member of the Federation of European Credit Management Association and a former credit manager for a group within a large export department.

Although retired I keep in touch with the "outside world". It is apparent to me that the majority of my former colleagues do not favour the Euro.

Recently a research among the main UK exporters shows that 51% would reject the Euro while 49% would be inclined to favour joining. This is significant because these figures show a 16% drop in Euro supporters in the last two years. As the argument becomes more pressing I believe that the 51% will convince many of those favouring the Euro to become "anti".

The reasons for voting against were: 70% "constitutional implications", 69% fear of a European Superstate, while weakening of relations with the USA accounted for 37%.

In my opinion the Euro is unworkable. It does not inspire confidence among the financial world and it has devalued 26% since its conception. It is unstable and could well collapse.

But it is not just about Euro. The Euro brings with it the destruction of our sovereignty and our independence. We have surrendered more than enough power to Brussels and Blair is to hand yet more in October as he ratifies the Nice Treaty.

The Federation of European Credit Management Associations is comprised of US, Belgium, Denmark, Finland, Italy, Eire, Netherlands, Norway and Spain.

The French association resigned in October last year when the council meeting proposed a revitalised FECMA based in the UK. In the years since it was incorporated and based in Brussels it was losing its way -- like the EU.

It is interesting to note that those two leading Euro exponents (France and Germany) are a little "two faced". Try paying income tax in Euros to the French Inland Revenue -- "Non, non. Francs s'il vous plais!", while the German suppliers bill in Deutchmarks and demand payment in such. But suppliers to them must bill in Euros -- taking 60 to 90 days credit they can be almost sure that the Euro will be worth less!

Finally, do people in the UK want an immediate increase in the cost of living? That's what's happened in those countries who are preparing for the final chapter -- an increase of 6% in prices. Well, someone has to pay for the huge cost in converting to the Euro and it isn't going to be the businesses!

J V Bancroft,

Oxendale Road,

Thornton