Local view for "http://purl.org/linkedpolitics/eu/plenary/2000-07-05-Speech-3-043"
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"en.20000705.2.3-043"2
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"Mr President, in many ways it has been a rather grim year for the euro. I take a rather more pessimistic view than the previous speaker. We have seen the external value of the euro plummet.
The interesting issue is to look at why that fall has happened. There are many reasons which have been explored today, but a big reason is that the markets do not believe in a currency without a country. They do not believe in a currency which is not backed by a political institution or a government. This is a very good illustration of the inherent link between economic and monetary union and political union. The one follows almost inevitably from the other. That is one of the many reasons why the United Kingdom should stay out of the euro.
But what is vital is that the people across Europe have a debate about the future, a debate about political union. Too often in the past they have been told that changes in Europe are technical. Particularly the idea that a move to the euro was merely an economic choice is, quite frankly, a lie. Every time Mr Blair and Mr Brown say that it is a matter of economics whether the UK joins or not, they are deceiving the British public or they are deeply deluded about the future of Europe.
It is only right that in Denmark we are seeing a debate on political union at the moment, as the Danes decide whether to join the euro or not. That is the decision that they are making and that is the decision that is faced by the United Kingdom. I trust that both of those countries will say no to political union and consequently no to economic union as well. It is about time that the European Union stopped intervening and spending taxpayers' money on one side of this type of political debate. It is unacceptable, in my view, for taxpayers' money – for public funds – to be spent promoting the euro in the ‘out’ countries, because they are engaged in a very important political process. To use government funding on one side of the debate would be an interference in this democratic process. I trust that we will vote in accordance with that in the Karas report at noon today."@en1
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