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ref date:10 Oct 1997 (EU)
Labour languishes on European monetary union

Several major European countries raised base interest rates in a move to help convergence for the start of EMU (European Monetary Union) in 1999.

Labour, like the Tories before them languished and did nothing as the Deutschmark surged ahead on currency markets.

Like the Tories, Labour will sit on the fence instead of helping steer the policy move to EMU, and in doing so hurt the economy in Scotland and England.

People need more than a referendum ever now and again to help them make decisions, the referenda are welcome, but the lack of strong and forward looking leadership is not.