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To: Gabriela Neri who wrote (16627)	8/26/1998 12:05:00 PM
From: Alex	Respond to of 116764

UK PRESS: BUSINESS TYCOON TO LAUNCH ANTI-EMU CAMPAIGN IN 99 ÿÿÿÿÿLONDON (MktNews) - A multi-millionaire U.K. businessman is launching a campaign opposing British membership of the single currency, The Independent newspaper reported Wednesday. ÿÿÿÿÿPaul Sykes is to head a nationwide publicity campaign designed to overshadow any pro-EMU propaganda, the paper said. ÿÿÿÿÿSykes, reputedly worth about Stg250 million, will use newspapers, posters, the Internet and other media to warn of the dangers of joining the single currency. The campaign will start on January 1, 1999, the official start date for EMU. ÿÿÿÿÿThe U.K. government is pledged to hold a referendum on the single currency if parliament after the next general election decides to approve membership, so the Sykes campaign could potentially last for at least four years and cost millions, The Independent said. ÿÿÿÿÿOn Britain's possible membership of EMU, Sykes told The Independent, "I'm going to do everything I can to stop this and I will raise hellfire to get the message across. I owe that to the British people. There is no point in being rich if you have lost your nation." ÿÿÿÿÿSykes is understood to have lined up senior economists from every one of the 15 European Union nations to argue the case against the euro, as well as MEPs from the continent who believe the euro will pave the way for a federal European state, the paper said. ÿÿÿÿÿSykes denied he has formed what amounted to a political party. "I want to make clear that we are not a party. We will be looking to spread information, factual information that we believe the people have a right to know," he said. ÿÿÿÿÿProminent business leaders in the U.K. are presently divided over whether Britain should eventually join the single currency. [TOPICS: MNSEMU] London newsroom 00 44171 353 4463 03:42 EDT 08/26 c 1998 Market News Service, Inc. economeister.com