I note that fresh from your failure to impose a directly-elected Mayor on the City of Brighton and Hove, you have hitched your bandwagon to another star - the euro.

Unfortunately, your articles and leader fail to present to your loyal readers the full facts.

If it was only a question of a single currency, we could have the referendum next Thursday and bring in the new currency the following Monday.

However, the implications go much deeper.

The euro is an integral part of a much bigger project - economic and monetary union (EMU). And you can't have one without the other.

EMU involves a single currency, a single interest rate and eventual harmonisation of tax and pension policy.

It is one-size-fits-all at the moment. Within the euro-zone, the Irish would welcome a rise in interest rates to cool their overheated economy, while Germany needs a cut in interest rates to tackle rising unemployment.

But under the rules of the EMU, they have no flexibility. They are stuck with a common interest rate.

On the other hand, we have the flexibility to change interest rates instantly, which could prove vital if the oil situation turns nasty.

Outside of the euro zone, we have low unemployment, low interest rates, minimal inflation, expanding economy and a strong currency.

None of these are an accident but the result of long-term and prudent policies by the Labour Government.

If the referendum is to be a real debate and not a slanging match, more than ever we look to The Argus to continue to earn its reputation for giving a balanced view.

-John Hodgson, Capel Avenue, Peacehaven