The economic health of a country is determined by fundamentals, such as rule of law, low taxes and good incentives to save and invest, according to Allister Heath in the Financial Times.

He rightly goes on to say that adopting inappropriate currency arrangements can wreck these economies, as Germany, who is now suffering from the "one-size-fits-all" monetary policy of the Euro, is now finding out to its cost.

I totally agree, that apart from abolishing holiday exchange rate charges, and monetary fluctuation rates, there would be absolutely no benefit from joining the Euro.

It has been well researched that having a common currency does not increase trade. On the contrary, it restricts individual countries from adjusting interest rates to suit their own needs and situations.

The argument that "all prices will be the same" doesn't work, either. A car in the UK will still cost more than in Holland or Belgium, whether it is priced in Euros or Pound Sterling. Prices of most things in Spain and Greece will still be cheaper than in the UK.

At present, London trades equally in both Euros and Dollars, to our advantage. We can make the best choice for us. Adopting the Euro, which is just another "regional" currency, would place us at a distinct disadvantage on the world markets.

So remember, if or when we are asked to vote on accepting the Euro, Mr. Heath is quite correct when he says joining up "will seriously damage our economic health"!

Stanley D. Parr, Paddock Close, Pershore, Worcs.