trade deficits and inflaIt imposed an economic framework that put the of Maastricht firmly within the neo-liberal agenda of the USA, the IMF and the World Kilmister's out, the operation of the convergence criteria, which have now become the stability pact, has just been demon- Internationalist message: the strated with the stark anti Maastricht demo in warnings by the European Cardiff, organised by Euro Central Bank to Germany. march campaign EU leaders, laughing all the way to the European Central Bank - at workers' expense Germany's only way of case under a single curavoiding heavy penalties rency.
Why should such things this will be to cut public be duplicated when the same time the degree of protection given arrival of the Euro will by the existence of indiaccelerate the restructur- vidual currencies is gone ing of the European econ- and the single omy, under way since the complete?
The strongest will surTreaty, vive, the weakest will go overs, and strengthening mergers, take- to the wall. Production domination of the and services will be even further rationalised and CUr DUld® still more jobs will go.
Whilst at the present In Britain Blair is determost individual mined to enter the single countries in the EU have currency as soon as ne can some involvement in the be sure of winning a referproduction of most goods endum. British capitalism services across cannot accept a halfway Europe, there is no reason house situaton why this should be the ship but none of the advantages and influence that comes with membership of the single currency.
New Labour's view is that now the Euro is on the streets, some of the xenophobic "keep the pound" opposition to the Euro will weaken as people use it when they travel to other EU countries and see the advantages at that eve A referendum is therefore likely before the end of this parliament or early in the next.
Blair will get the full support of the TUC and most of the trade union leaders in fighting for a "yes» vote. The TUC has led the pack as enthusiastic supporters of the whole European project, hoping that a few crumbs from the European table will compensate for their total lack of fight against the government and employmarket ers in this country.
It is time now for the left to begin the preparation for a socialist, anti-nationalistic, campaign against the Euro - based on the defence of jobs, services and democracy.
Unfortunately the left has lost the initiative on this in recent times but it needs to regain it if there is to be an effective socialist voice in the campaign where around a referendum. member-