Hear all sides

JOHN Elliott's letter (HAS, Jan 25) is one of the best letters published in The Northern Echo on the subject of the single European currency.

He makes some relevant points as to why this country should not adopt the euro. For some time I have been stating in your columns that dumping the pound in favour of the euro would be an irreversible mistake for the future well-being of this country.

The Chairman of Business for Sterling in the North-East is 100 per cent correct. There is no compelling economic case for joining the euro. It is a political, not an economic decision.

The country's largest business organisation, with some 165,000 members, the Federation of Small Businesses, is also against joining the single currency for the same reasons; in particular it believes membership would mean an unacceptable loss of UK control of monetary policy.

In simple terms, making the euro our currency is not a case of swapping pounds for euros: it will mean that economic policy in this country will be dictated to us by the European Central Bank.

Our political leaders will have no control of our economic well-being. How can that be good? - Peter Troy, Chairman, Darlington Branch, Federation of Small Business.

RICHARD Corbett MEP (HAS, Jan 16) is wrong to play down the importance of keeping control of our interest rates - something that we would lose if we joined the euro and had to accept the single eurozone interest rate set in Frankfurt.

When we were members of the ERM between 1990 and 1992 we had to accept an interest rate that was wrong for Britain - exactly the problem we would face in the euro.

The result was a disaster. We lost 100,000 businesses, unemployment doubled, and 1.75 million homes fell into negative equity.

Keeping control of interest rates is the best way to keep the economy stable and avoid a return to boom and bust.

Joining the euro would also affect our public spending and taxation, despite what Mr Corbett states. Inside the euro we would face tax harmonisation.

Britain is doing well outside the euro. We have half the euro-zone rate of unemployment, faster growth and more inward investment. The quickest way to bring this to an end would be by joining the euro.

Politicians like Richard Corbett need to do more to understand the economics of the euro - the things which people really care about, like jobs and living standards.

Perhaps then, he will be in a better position to clarify misconceptions. - Dr Barrie Craven, Economics Dept, Newcastle Business School.

JOHN Townend, the Bank of England director for Europe, says that any attempt to artificially drive down sterling to a level at which the UK could join the euro is fraught with danger for the British economy (Echo, Jan 23).

Clearly he is concerned that there will be, perhaps already is, pressure to force the issue, to try to meet Chancellor Gordon Brown's five economic tests.

Fortunately for us, John Townend and others like him have the sense and honesty to keep alerting the general public to what is going on. They are sounding loud alarm bells which should be heeded. After all, they are in a position to know the truth. The sooner a referendum is held the better for Britain. We should know and be allowed to vote on any further move to force us into monetary union. - EA Moralee, Billingham.

HEALTH SERVICE

WHAT an appalling statement of failure this Government has made about our National Health Service.

To send people to another country for treatment is really unbelievable. The Government is floundering and is completely lost.

If you allow hundreds of thousands of people into a country then you must supply extra facilities. This Government has not done this and this is one of the major causes of the NHS failure.

Perhaps, if we were not giving so much to Europe we might have enough money to improve things. - A Parkin, Bishop Auckland.

SWIMMING CHALLENGE

ANOTHER year has passed and I am once again appealing to your readers to help me and take up my Swim for Life Channel Challenges.

I was delighted with the response last year, and hope that even more swimmers will decide to help in 2002 - help themselves by improving their fitness and help others by raising funds for charity.

The challenge is to swim the distance of the Channel - that's 22 miles, or any multiple of 22. You don't have to don a wetsuit and take to the freezing waters of the English Channel to take part, though.

You enjoy it in the warmth and comfort of your local pool. Swimmers have the whole of 2002 to complete their challenge and, whether they raise sponsorship money or not, every participant receives a certificate of achievement, and swimmers can take part as an individual or as part of a team.

You can get your friends from work, school, club - wherever - to join you and find out the benefits of swimming to health and fitness.

This year, the main beneficiary is once again the Muscular Dystrophy Campaign and the money raised will go towards helping this very deserving charity.

For an entry form, or more information about my Channel Challenge, call the Actionline on 01382 451146 or pick up an entry form at your local pool.

Come on. You'll enjoy it! - Sharron Davies.