IT is always interesting to read letters from Chris Davies, Lib Dem MEP, regarding the EU. He states that the Euro is now the second largest currency in the world. However, he fails to admit that it is one of the weaker currencies, having dropped in value by 15 per cent since its inception.
He states that when finally introduced it will reduce prices. Many people are actually concerned that the introduction of the single currency will allow manufactures to increase the price of goods without the public realising what is happening.
He wishes the Governor of the Bank of England to help shape the policy of the ECB. But Sir Edward George has already stated that the UK joining the single currency would be like an elephant getting into a rowing boat.
The most obvious point missed in Mr Davies letter on joining the single currency is that you will cease to become independent, as the Irish Republic have already found out after they voted to reject the Treaty of Nice.
Romano Prodi has stated that they must have another referendum to overturn the previous decision. Democracy rules but not in the European Union.
A P Mackay,
Heys Street, Thornton Cleveleys.
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