BILL Harrison reveals that he knows nothing whatsoever concerning economics (You Say, May 2).
My statement in a previous letter that "The UK's share of investment in Europe fell from 26 per cent to 19 per cent" did not relate to British investment in the European mainland, but to investment from non-European countries into Europe, of which the UK is part.
Of course, the main investors into Europe from other continents are USA, Japan and South Korea. Clearly a majority of companies in these three countries favours doing business with euro currency countries.
I have no statistics as to what proportions of the world currency reserves are held in particular currencies.
However, if Mr Harrison is correct, and 10 per cent of such reserves are in euros, then the euro must be a strong relative to most other currencies, because there are far more than 10 different money systems on the planet.
D E MARGRETT, Worcester.
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