Germany's pact to create jobs and France's economic reforms are an indication of the seriousness of their intent to introduce the single currency, not a reason for delay or abandonment. Both countries are taking action to bring about a single currency, and we should not underestimate their willingness to do more to achieve it. The prize of low inflation, low interest rates and low employment in Europe which the discipline of the single currency would foster is not one they will easily give up. Nor should we.
Britain's track record of non-participation is well known among our continental partners. Sadly, the crisis of credibility that the present round of speculation is most likely to cause is a crisis of Britain's credibility in Europe.
European Movement, UK
30 JanuaryReuse content