Adopting the euro would be a catastrophe for Britain

The British Liberal Democrats support Britain's accession to the Eurozone. For the daily The Times such a move would be disastrous: "The main advantage for any nation of having its own currency ... lies in the ability to conduct independent monetary and fiscal policies - to set interest rates and to borrow money, without regard to external political constraints. This monetary and fiscal independence is a far more important national prerogative than just the ability to devalue the currency to make exports competitive or revalue to make foreign holidays feel cheaper. And it is the permanent loss of monetary and fiscal independence that clinches the argument against joining the euro, regardless of whether economic conditions are deemed to be favourable or whether a referendum has been held."

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