Embargo: 06.30 am Thursday 27 October 2016
STAYING IN THE SINGLE MARKET WOULD BE TYING OURSELVES TO THE EURO’S CORPSE
Retaining a share in the cost of saving the euro from its inevitable decline will be the price Britain has to pay if it chooses to stay in the EU’s single market, is the dark warning by the author of a new paper that reviews the unmitigated failure of the EU’s chief political project over the last seventeen years.
‘The Euro currency cul-de-sac’ written by Bob Lyddon, a City banking expert, and published by Global Britain, explains how the Euro has gone badly wrong, often achieving the exact opposite of what was intended by its designers and causing high levels of joblessness and horrific youth unemployment.
Lyddon concludes that saving the euro requires all EU economic and regulatory policy to shore it up and that if the UK stayed in the single market the UK Government, British businesses and taxpayers would be dragged down with the cost and burden of restrictions on trade and any bale-outs that followed.
Commenting on the report Brian Monteith, a director of Global Britain, said:
“The euro has almost been forgotten about as it is commonly thought that by voting for Brexit we have escaped its clutches, but we risk walking back into the grip of this zombie currency if we try to stay in the single market.
“The EU’s economic and regulatory policies aim to help the euro survive. If the UK remains in the Single Market British business will share the cost of saving the euro by taking on the same regulatory burdens as Eurozone member states – but with no say in their design.
“It is vital the UK leaves the single market to reduce its exposure to the euro and end the underwriting of potential euro debt liabilities by the British taxpayer. Leaving the EU only to go back into the Single Market is pointless and could prove worse than being a full member.”
Download the Media Release: gb-media-release-09-27-10-16-euro