This is overstated. Costs are usually minimal and any gains made here would be lost owing to the loss of investment. GBP Sterling has long been one of the strongest currencies in the world, lower transaction costs are in no way beneficial enough for us to lose the overall buying power that sterling gives us in the international market place, even whilst we have been in the longest period of recesion on record Sterling has remained a very strong currency. I dont think it is beneficial to our economy to lose this strength, it speaks for itself when other countries with much healthier economies do not have a means of exchange as strong as ours. To lose this edge in the international market place would be a tremendous blow to the UK and reduce our economic standing in Europe. For the UK to give up our currency just so we wouldnt have to pay exchange rates when we go on holiday beggers belief.

You do not need to have integration in order to have cooperation. We’ve been working closely with other states for many years now, and damaging our economy by joining the single currency isn’t going to make any difference to that.

The empirical evidence shows that aside from booze-cruises from the UK to France, transport costs outweigh any savings in the Euro Zone and people do not in reality do this, therefore no money is saved and the point is invalid.

This argument assumes that globalisation is a positive development and should be eased along its way. Globalisation, however, is a force that will lead to the assimilation of many valuable national nuances and varied ways of life, into one homogenous cultural mess. The adoption of the single country, for Britain, would be a step in this direction.