I read with disbelief the letters in opposition to the euro (News Shopper, June 27), with many points mentioned either wrong, or exaggerated.
Firstly, unlike common myths, governments retain their ability to decide tax rates as long as they keep their budget deficits to within three per cent of the Gross Domestic Product (GDP) and government debt below 60 per cent of GDP.
Brussels can only decide rates of VAT and excise duty and if change is unwanted, the British Government can exercise its veto and reject it.
Secondly, governments retain sovereign control over spending providing they do not finance this by excessive and unsustainable borrowing.
Britain would not have to raise pension levels due to the deficit of Italy and Germany.
Article 10(4b) of the Maastricht Treaty states: “A member state shall not be liable for or assume the commitments ofother member states.”
I find it nauseating when uninformed people regurgitate Euro-sceptics' nonsense.
Anthony Zammit (aged 15)
Ravensbourne Avenue
Shortlands
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