Letter: Pay Eurotaxes or lose jobs

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Sir: No one could accuse the Adam Smith Institute of a devotion to logic. Their letter (18 January) condemns a common European currency on the grounds that some countries have the need to devalue from time to time, in order to compete and export their unemployment.

In the absence of this option, they will need assistance from other member states, funds derived from taxation. In practice, all this means is that the more competitive areas of the Union have the option of paying a tax or losing their jobs.


Shipston on Stour, Warwickshire