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The Independent Online
The Institute of Directors would have us believe that British interest rates will fall below euro rates if we stay out of EMU ("Pound 'better out of euro'", Business, 9 March). Who are they kidding? The markets will pay more attention to performance than wishful thinking. German interest rates are still almost 3 per cent below ours.

Peter Sainley Berry

Cowbridge, South Glamorgan

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