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    We would be in a straightjacket Alexander.

    We benefitted from the £sterling being able to take some of the pressure as it can 'float'. If we were in the Euro we would not have that advantage.

    Remember the failed EMU from the late 80's - our shadowing the DMark and Major taking us into EMU was the main cause of our problems back then, only when we crashed out of it did the UK recovery begin.

    We have a very different economy to the Europeans, more small/self-employed businesses, more home ownership, more personal debt - the Euro straightjacket would not be good for us.

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