Green Party says no to the Euro

The Green Party of England and Wales has a long standing policy of saying no to Britain joining the single currency zone.

It would be a democratic disaster if we joined.

At present our economy is controlled by the Bank of England (albeit with some glitches!), if we joined the euro zone our economy would be governed by the European Central Bank.

Sound economic policies for part of European community may not suit all Euro Zone countries.

At present interest rates in the Eurozone are higher than in Britain.

Green politics is about local economic control...the Euro is a step towards corporate globalisation.

Here are policies on the Euro from our Manifesto for a Sustainable Society:

EU420 Economic and Monetary Union is the central element of the economic project of European integration, defined in the Maastricht Treaty. The single currency, the Euro, was launched in 2002.

EU421 To qualify to join that currency member countries must meet economic convergence criteria; the effect of these is to reduce public spending and increase social problems. The single currency is controlled by the European Central Bank (ECB), able to fine member countries of the EMU under a Stability Pact if they do not meet the bankers' criteria.
Policy

EU422 The Green Party is opposed to EMU and the single currency. We believe it will undermine local and regional economies away from the centre of the EU and the metropolitan network connected to that. It will encourage capital flight, and increase social and economic inequality. EMU takes no account of environmental or social criteria. It is run by the ECB, a collection of bankers subject to no effective democratic control, but able to override the democratic decisions made by member countries.

EU423 The Green Party is opposed to the UK joining EMU. We are committed to a referendum on any such decision and will join the campaign for a "No" vote in any such referendum. Prior to a referendum being called, the Green Party will join whichever campaign against the single currency it feels has most in common with its principles.

EU424 In the event of a decision that the UK join the single currency having been taken, we will assess its impact before making a decision on the principle and timing of withdrawal.