WHEN the euro currency flourished, many people warned that it was a dangerous experiment. Eddie George, Governor of the Bank of England, described it as "a leap in the dark".

Since then the euro has plunged in value and now the Danes have rejected the single currency. Opinion polls show that the German people, in particular, are very worried.

Enthusiasts for the euro in the UK have distorted the facts to try and scare people that, if we don't join the euro, Britain will lose jobs.

The reverse is true. Our unemployment is the lowest for 20 years, and nowhere near as high as in mainland European countries where they've joined the euro. Our inflation is also lower than theirs.

Latest figures show that Britain attracts more overseas investment than Germany and France combined.

Meanwhile, continental businesses are relocating here and to the USA -- to free themselves from the heavy taxes, restrictive labour laws and crippling bureaucracy in Euroland.

If we joined the euro currency, we would be locked into an outdated, protective European world of higher taxes and employment costs and enterprise-sapping red tape at a time when international competition from new, developing nations is tougher than ever

There would be no escape if things went wrong. While the 'one-size-fits-all' euro currency interest rate might be right for France or Germany, it could be wrong for Britain, returning us to boom and bust.

How can you expect so many European countries to share the same interest rate? Different economies inevitably require different economic strategies.

Fixed exchange rates with the Eurozone countries might benefit some UK businesses. But the cost to the UK economy as a whole would be much greater than the benefits. Britain's success depends on being competitive and flexible. And that means we must keep control of our own economy by retaining the pound.

The suggestion that those who remain outside the euro will somehow be "left behind" is simply another scare tactic -- one the Danish people have clearly rejected. Britain, Denmark and Sweden -- the three members of the European Union who appear set to stay outside the euro -- are outperforming Euroland, with much lower unemployment and lower inflation.

An ICM poll earlier this year showed that two-thirds of business people in the North-west support our view. We've taken a stand. Now we're asking others to join us.

We already have a Business for Sterling North West Council of nearly 40 businessmen and women supporting the national campaign in our region. We are not anti-Europe. We want to stay in the EU, but keep out of the euro currency.

David Briggs

Chairman

Business for Sterling NorthWest

Chapel House

Chapel Street

Manchester

M3 6BG