Letter: Anti-euro tycoons
Friday 28 August 1998
EMU would bring with it not just new notes and coins, but the permanent loss of the power of the British authorities to set interest rates to suit economic conditions at home. This power would be exercised - for eternity - by the European Central Bank, which has no special regard for the health of the British economy.
It was a policy of setting UK interest rates to suit Continental conditions, before and during our ERM membership, that caused the last boom and bust. How ironic that Mr Seddon should not see the risk in taking again the very course of action that caused much of the hurt for which he heaps blame on the last government.
tv Review: Miranda Hart and co deliver the festive goods
tvReview: Older generation get hot under the collar this Christmas
Arts & Ents blogs
- 1 The political parties aren't all the same – which means 2015 will be a 'big-choice' election
- 2 President of Argentina adopts Jewish godson to 'stop him turning into a werewolf'
- 3 ALS ice bucket challenge co-founder Corey Griffin drowns, aged 27
- 4 The 'Black Museum': After 150 years, public set to see exhibits from police’s grisly crime museum
- 5 Naomi Wolf reacts to Isis 'conspiracy theories' critism after she questions whether beheading videos are real
Peter Lik: The self-proclaimed 'fine-art photographer' whose work sells for millions
Downton Abbey Christmas special 2014, review: Love is everywhere, actually
The golden age of TV comedy is here
The Boy in the Dress, TV review: David Walliams' Boxing Day treat is a celebration of being different
From Marvel to Star Wars: The rise of cinema’s shared universes
British actor Idris Elba cannot star as James Bond because he is black, says shock jock Rush Limbaugh
Germany anti-Islam protests: 17,000 march on Dresden against 'Islamification of the West'
Ukip member gets into Christmas spirit with Union Flag plea to Santa 'for our country back'
Immigrants make UK racist, says Ukip councillor Trevor Shonk
BBC director Danny Cohen: Rising UK antisemitism makes me feel more uncomfortable than ever
Katie Hopkins speaks out on childhood obesity: 'Parents of fat children should be prosecuted for child cruelty'