Mrs JENNIFER MILLER
Sir: Your leading article (2 September) claims that we need the euro to help us weather the threatened world recession
You say that uncertainty about the euro could be bad for the UK. I agree with you, but this hardly makes the euro a contribution to our economic stability. Rather, a global recession is an extremely dangerous time to be embarking on such a leap in the dark.
Our best hope of stability in a turbulent world is to set interest rates to suit our local conditions. Our period in the ERM shows what happens when we neglect to do this.
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