EU pipe dreams
From Mr C. Francis Warren Sir: David Marsh (`The currency with a hole in it', 26 October) summarises the essence of his long article: 'Put simply, Britain would trade German help in tranquillising Russia against the Bank of England's sovereignty over interest rates.' That is, a hoped-for benefit in exchange for a real British sacrifice — the tale of all our EU negotiations!
Of course, when he refers to the Bank of England he is misleading. We are talking of the sovereignty of an independent Britain, because 'Who controls the currency controls the country' (Maynard Keynes).
The situation which Marsh posits is false. Germany is still wedded to France. See their stitch-up over an unreformed CAP last week, despite Britain's loud protests. In this they continue to demonstrate the assertion of the arch euro-zealot Lord Brittan that any idea of Britain joining, let alone dismantling, the German/French axis is merely 'a pipe dream' (Prince Frederick of Prussia Memorial Lecture, Chatham House, London, 1 December 1999).
C. Francis Warren Lancaster, Lancashire
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