“When the Euro was launched we were offered a rate of £1 to €1.66. An American economist urged us to take it as he stayed we would never get such good terms again and predicted that within 10 years there would just about be parity. Well in 2010 £1 was worth €1.08 so we almost did it in 8 years. Today we have a rate of €1.16 so for every pound in your savings, pension fund etc you have effectively lost €0.50. It is inevitable that all of Europe will be in the Euro eventually, but at what rate will we be joining. The refusal to join in 2002 was all down to hiding what we in the UK pay for petrol etc compared to the rest of Europe. Just another benefit of the UK union.”
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