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Common currency seriously flawed

As a member of the Conservative Party , I am happy to confirm my position

(with a degree of technical knowledge and experience too) – which is that a

common currency, as a concept, is seriously flawed economically and I shall

vote against it every time.

The only vote worth using to this end on June 7 is for Conservative

candidates. All the others will return pro-euro members, including the UK

Independence Party by default.

The economic conditions will never be right. We are the fourth-biggest

economy in the world and the second-biggest overseas investor.

We enjoy (and have continued to enjoy since the euro began without us) an

escalating flow of inward investment too as the benefits of being on the

European doorstep, capital availability, regulations, available work-force,

English language, legal system, etc, already attest.

Just think – the UK has had a common currency for centuries. It does not

take an expert to realise that economic policy is a compromise covering the

affluent South-east, crofters in Scotland, Northern Ireland, Wales and the

far reaches of the South-west. How on earth could a common economic policy

be right for perhaps Poland, Ireland, Sweden and Portugal?

Rest assured, UKIP, that most Conservatives feel the same way as you do

about this issue, yet realise that the only way to fight to protect the

pound (and economic common sense) is from within the Conservative Party.

However, I recognise the practical benefit of trading with neighbours and

of having a trading bloc big enough to counter the others in the world,

too. Still, being a club member does not mean we have to go to extremes of

federalism and single economic strategies, as is inevitable under Labour

and Liberal Democrat policies.

Let us instead enjoy the wonderful individuality of nation states all

bringing different flavours and skills to the party, a concept as promoted

by the Conservatives. This is not xenophobic – it is about respecting each

nation&#39s individuality.

Issues of “convenience in trading” and “protection against short-term

currency fluctuations” could be resolved already and without needing to

have a common currency. Of course, if these had been tackled, then the

“pros” would have little ammunition left, would they?

If we join the euro, as has now been “let out of the bag” by the incumbent

European president, it is inevitable that other economic policies will have

to continue conforming.

Can you imagine standard taxation and public spending policies set by

bureaucrats in Frankfurt? You cannot have a common currency without a

common interest rate.

Philip Milton

Braunton, North Devon


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