Letter: Anti-euro tycoons
Your support helps us to tell the story
From reproductive rights to climate change to Big Tech, The Independent is on the ground when the story is developing. Whether it's investigating the financials of Elon Musk's pro-Trump PAC or producing our latest documentary, 'The A Word', which shines a light on the American women fighting for reproductive rights, we know how important it is to parse out the facts from the messaging.
At such a critical moment in US history, we need reporters on the ground. Your donation allows us to keep sending journalists to speak to both sides of the story.
The Independent is trusted by Americans across the entire political spectrum. And unlike many other quality news outlets, we choose not to lock Americans out of our reporting and analysis with paywalls. We believe quality journalism should be available to everyone, paid for by those who can afford it.
Your support makes all the difference.Sir: Where do these anti-euro tycoons come from with a half-mad glint in their eyes?
Paul Sykes's attitude smacks of churlishness ("Tycoon plans anti-euro campaign", 26 August). The bottom line is that EMU will happen on 1 January 1999 and 11 countries will enter it, and hundreds of millions of people with them. This will result in most government debt being redenominated in euros, all equities being repriced in euros and all derivatives being redenominated to euros and the redenomination of most corporate debt during the next three years.
It also appears, if rumours are to be believed, that a number of FTSE- 100 companies are already looking to redenominate their share capital in the first quarter of next year even though the UK will not enter EMU.
Whatever the views of Paul Sykes, or for that matter the British people, EMU is a reality and the political and economic pressures to ensure it succeeds are staggering. Ultimately, if EMU works, the British people will decide to enter even if the their decision is based on purely selfish motives of getting a piece of the pie for themselves.
NEIL THEWLIS
London SW14
Join our commenting forum
Join thought-provoking conversations, follow other Independent readers and see their replies
Comments