Benefits of 'Euro' defended

The European Commissioner responsible for introducing a single currency across the EU yesterday urged Britain to see it as "the inevitable complement to the single market".

Yves-Thibault de Silguy marked Europe Day with a speech to the pro-EU European Movement in London which described the proposed currency, the Euro, as the next milestone.

Mr de Silguy said: "I am not a blind Euro-federalist, but I am convinced that we will only preserve our influence through joint action."

The Commissioner went on: "The single currency is not a goal in itself: it is a vital tool to ensure our future prosperity and our competitive position in the world. It is the inevitable complement to the single market. It is a central part of the fight against unemployment."

He said he was sure the other member states would proceed on schedule: "Nobody and nothing will stop them".