ref date:31 Aug 2000 (EU)
Labours Monetary Union stance reaches on sense ground at last
Labour have considered these four points amongst others to say why the
pound should go and the Euro should come in to Scotland and England.
Elimination of transaction costs for holidaymakers and travellers;
Increased price transparency across the EU, helping to increase competition and benefiting consumers through a reduction in price differentials and greater choice;
Elimination of exchange rates risk on the almost 50% of trade which British industry does with the euro area;
Participation in a zone of macro-economic stability of comparable size to the United States.
The dumb Tories, especially Michael Portillo says that the Euro is struggling
to maintain its value against the US dollar, but that is precisely because the
pound is not GONE. When it is the US dollar will weaken and all of Europe
will benefit. The Tories said nothing to detract from the good common
sense benefits of these four points, then again the Tories are intellectually bankrupt.