Leter: Monetary union will allow fiscal foolishness
Tuesday 14 February 1995
Sir: I am an Italian small businessman who has worked in this country for 25 years. During this time, I have found the current monetary system is one of the most difficult issues, in particular when changing money to travel abroad.
How can we go forward if the British want to be different? It doesn't mean that we have to have the same coins or paper notes, but everybody can keep policies on fixed interest rates and exchange rates so we know where we stand. This will allow us to compete with the rest of the world.
We must be strong in Europe and we need one monetary system. We have excellent resources in this country, but people do not know how to utilise them properly or how to export them. This is why one currency will bring us back in line with the best.
V. D. Elia
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