╨╧рб▒с>■  -/■   ,                                                                                                                                                                                                                                                                                                                                                                                                                                                ье┴ ┐zjbjbjкjк "&╚╚z       ]>>>>> J >aъbbbbbbbb      ,KЇ?~LbbbbbLКbbbКККbbb"0bКФКV +%п║>>b(Euro frustration grows Many of us will be using euros for the first time on our summer holidays. Yet Iain Duncan-Smith and the official Tory leadership is too frightened of the euro to talk about it. Bold Michael Heseltine says that BritainТs decision about membership of the euro is Уthe transcending issue of our timeФ. Even Gordon Brown admits that it is Уperhaps the biggest peacetime decision we as a nation have to makeФ. Both he and the prime minister make the point that they want the euro to be successful. So when on earth are we going to decide? We are promised the governmentТs response to its own five economic tests before next June. But on the European UnionТs own criteria, enshrined in the Maastricht Treaty to which the UK is committed, Britain already meets all the qualifications of necessary convergence with the eurozone economies bar one. That remaining test concerns the durable stability of the exchange rate value of sterling in the run up to joining the euro Ч a criterion which, bizarrely, is completely omitted from the governmentТs own five tests. It is an important point. To enter at too high a value against the euro would damage our trade with Europe. To try to enter at too low a value would be resisted by the existing twelve members of the eurozone. The signs of a steady fall in the value of sterling are most encouraging. The euro is now worth about 63 pence. Six months ago it was worth 60 pence. Most experts say that once the rate moves beyond 64 pence euro membership would be good for BritainТs manufacturers. The joker in the pack is the dollar. If the dollar fluctuates wildly, sterling will be volatile also. But here too the signs are good. The euro rises against not only the pound but also the dollar, with which it reached parity in July. The slow growth of the UK economy means that a steady fall in sterling will not have inflationary consequences. This has impressed the National Institute for Economic and Social Research who argue: УInside Economic and Monetary Union we can expect that inflation would be lower and less variable than it would be if we remained outside, and fiscal policy would be similar to that which is currently planned. ... [A] more stable environment will increase output and growthФ. In the East of England support for the euro is growing among business people. Farmers, too, are realising that with the euro they would get higher prices for their milk and cereals and better value out of their IACS subsidies. Liberal Democrats are playing a leading part in preparing the Yes campaign. Andrew Duff convened the cross-party pro-euro campaign organisation Britain in Europe in this region. Its chairman in the East of England is now former local Tory MEP Sir Fred Catherwood. Andrew says: УUnder the umbrella of Britain in Europe, Liberal Democrats will have their own realisable objectives. During the autumn we will be rolling out a training programme for the party so that all members can fight the referendum campaign with self-confidence and skill. We will make a key contribution to winning the consent of the British people on joining the euro. Liberal Democrats will be in the vanguard of the campaign to keep Britain in Europe.Ф Anyone wishing to become active in the regional euro campaign should contact us at Orwell House or, directly, the full-time Britain in Europe regional organiser, Kerry McCarthy, at kerry.mccarthy@eastofenglandineurope.org.uk. ,-z¤∙5Б6Б6Б-7  ▄ └ ╔Чyz¤√√√√√√√√√¤ z■■ РА░Е. ░┬A!░а"░а#Ра$Ра%░ [4@ё 4NormalCJOJPJQJmH <A@Є б<Default Paragraph Font,■OЄ,Style1 CJOJQJ<■o<EA $дqдqCJOJPJQJmH nH z &       z zzzбе* |    Tim Huggan;Hard Disk:Duff Web Site:agenda:ea6eurofrustrationgrows.html @Аy y РР,y y 5тz 0@GРTimes New Roman5РАSymbol3Р Arial3РTimes#1и╨h tF tF─е└┤┤А0Ы  Euro frustration grows Tim Huggan Tim Huggan■  рЕЯЄ∙OhлС+'│┘0lИР░╝╨▄ь   ( 4 @LT\d'Euro frustration grows8uro Tim Hugganaim Normalg Tim Huggana1m Microsoft Word 8.0o@@ w╦?°┬@ w╦?°┬■  ╒═╒Ь.УЧ+,∙о0  hpИРШа и░╕└ ╚ ы'Andrew Duff MEPм Euro frustration grows Title ■   ■    !"#■   %&'()*+■   ¤   .■   ■   ■                                                                                                                                                                                                                                                                                                                               Root Entry         └FАoбKH°┬0А1Table            WordDocument        "&SummaryInformation(    DocumentSummaryInformation8            $CompObj    XObjectPool            АoбKH°┬АoбKH°┬            ■                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                           ■      └FMicrosoft Word Document■   NB6WWord.Document.8