To: William Peavey who wrote (41114 ) 2/16/2001 3:59:46 PM From: long-gone Respond to of 116781 Join euro or lose out, Prodi tells UK Special report: economic and monetary union Michael White, political editor Friday February 16, 2001 The Guardian Britain stands to lose more of its influence and national sovereignty by staying outside the eurozone than it will by joining the European single currency, the president of the Brussels commission, Romano Prodi, predicted yesterday. In doing so he implicitly rejected the conviction of Tony Blair and Gordon Brown that the 12 eurozone nations cannot conduct day-to-day management of the currency without reference to the group of the 15 European Union finance ministers. "In practice, if you don't fully participate in the family, your voice will be less heard. To be different makes you less important in the total decision-making process," he told the Guardian in an interview. Mr Prodi, a former prime minister of Italy, echoed this theme in a speech in London yesterday: "How can you control your economy being surrounded by the euro and not having your man inside the European central bank?" He argued that a potential loss of sovereignty should be "judged in practical terms". These are the arguments that Labour will deploy in any referendum. "The euro will go well and it is convenient for you to get into. But you must decide," he said. It was a point he emphasised on his flying visit to London, during which he breakfasted with the prime minister at No 10. The Tories declared that he had "exposed the defeatist agenda of Tony Blair and Gordon Brown". The shadow foreign secretary, Francis Maude, said: "Like Mr Prodi, Labour believe that Britain has no future as an independent state." Mr Prodi pleaded with Britain's famously Eurosceptic media to "talk about facts, not about theory" when deciding whether to go in or stay out. Undeterred by the euro's weak performance since its launch in 1999, Mr Prodi predicted that the eurozone would quickly spread to eastern Europe and north Africa: "Even here [in Britain] it will become a very popular currency." Mr Prodi also sidestepped the political pitfalls in the House of Commons. When asked about sensitive EU tax matters he replied: "Tax is like sex, you cannot talk about it." guardianunlimited.co.uk