MICHAEL Fry writes (May 6), ''The Euro will thus be a weak currency on the international exchanges, clearly an unsuccessful competitor with the dollar, and even with the pound. Europeans will have to face hard choices. Either they will endure a permanent structure of high interest rates (not low ones as advertised), a grim prospect for the millions in their welling armies of unemployed. Or else they must turn inwards into protectionism and isolation, cutting themselves off from global competition they can no longer face, no doubt intensifying their already visible racist paranoia''.
Let's remember what is being claimed here in five and 10 years' time. Maybe we will hail Mr Fry as a commentator with great foresight; on the other hand, if he is wrong and the Euro had comparable success as the German mark has had, then he will justifiably be known as a chauvinist Cassandra. Others in Scotland will hopefully be playing the Scottish (in Europe) card by then.
Iain Paterson,
Salierigasse 18/7, 1180 Vienna. May 8.
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