Dr Charles Tannock

Member of the European Parliament for London

Pound delusions

Daily Telegraph - 8th July 2000

Sir

We, Conservative MEPs, are extremely perturbed at the constant spinning in the British media and by the Labour Party about the "strong pound", when even the European Parliament in its annual report on the European Central Bank acknowledges that "the fall in the value of the euro poses increasing risks to price stability".

The pound is not too high - its value has remained relatively stable against the dollar for five years. It is the euro that has declined; reflecting weaknesses in the eurozone economies and posing risks to British jobs.

Robin Cook's remarks about the inevitability of the euro (report, July 7) are as absurd as his oft-trumpeted ethical foreign policy. Even the Prime Minister's own spinners distance themselves from it, when they say "clearly, joining the euro is not inevitable".

NIRJ DEVA
JOHN BOWIS
ROGER HELMER
ROBERT GOODWILL
JACKIE FOSTER
MARTIN CALLANAN
THERESA VILLIERS
Earl of STOCKTON
STRUAN STEVENSON
CHRIS HEATON-HARRI
CHARLES TANNOCK

Brussels