OH dear. More snake-oil salesmanship from Mr Margrett as he vainly tries to put his usual euro-slant on the facts.

Mr Margrett obviously would like people to think the economy begins and ends with manufacturing industry. Important though that is, it wouldn't get off the ground without foreign investment, of which by far the largest part comes from the States (as the largest part of theirs comes from the UK).

In any case, far larger sums of money are involved in the non-manufacturing sector where, again, the USA is by far the largest player in the British economy.

Another con-trick of the euro lobby is to hint that economies can flourish only within giant currencies like the dollar. The UK already puts that nonsense to shame with the fourth largest economy in the world.

Other actual or potential giants like China or India have no need or intention of joining either the dollar or any other super-currency.

Britain must always be open to the wide world out there. That's precisely why we must not get walled in behind the defensive battlements of Fortress Euro.

JULIAN THAKE, Worcester.