Letter: Useless euro

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The Independent Culture
Sir: One of the silliest arguments put forward in favour of the UK adopting the euro is that it will lead to lower interest rates for mortgages and for industry.

The Government has made it clear that there is no prospect of the UK joining the euro until our economy converges with that of continental Europe. Therefore, by the time it is "economically right" for us to join the euro we will have low sterling interest rates anyway.

Clearly, then, there will be no point in adopting the euro to get low interest rates.


London NW4