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Nick Clegg: Is joining the euro still too big a risk for Britain?

In this exchange from 2002 Lib Dem leader Nick Clegg, then an MEP, debates the single currency with Gideon Rachman of the FT

By Nick Clegg   January 2002

Nick Clegg addresses the Lib Dem spring conference in 2010

From Gideon Rachman

Dear Nick

22nd November 2001

The euro is a huge economic and political experiment. Nothing like it has been done before so we cannot know how it is going to work out; the only responsible policy is caution.

Why should the British be cautious when our partners have taken the plunge? For good historical reasons. Britain has a political system which has delivered stability for centuries. It has never fallen to fascism or dictatorship. Unlike the French, the British have not been scarred by three German…

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