I was a professional foreign exchange trader for twelve years.  I understand the way financial markets work better than most.  It is clear to me that currency union is not in the best interests of Britain.

Economic policy is always a function of juggling three issues: fiscal policy, interest rate policy, and currency policy.  You can control any two of these issues at any one time.  No government can manage all three.  There must be a valve which lets money and inflation either into, or out of the economy.  Monetary union means fixed exchange rates, and therefore fixed interest rates.  In order to prevent massive fiscal arbitrage, there must then be fixed fiscal policy.  When that happens, there is no more democracy. How can a government shape society according to its beliefs, ideals, and manifesto, when it has no control of the purse strings?

I therefore answer yes to both questions.  I am a sceptic.

Best wishes,

Guy Hurley

Dear Mr Hurley,

Many thanks for your e-mail dated the 16th of April last.  Though I added you immediately to the Candidlist as a sceptic, I apologise for taking so long to reply.  I was leaving for a holiday before Easter, and am only now properly updating the Candidlist by publishing this correspondence.

We thank you for helping to make the Candidlist more accurate.

Yours sincerely,

Dr Sean Gabb
Candidlist Webmaster

Note:  The Candidlist Test is:

Do you answer in the affirmative both of the following:

1) If elected or re-elected to Parliament, would you oppose our joining the Eurozone even if joining were to be recommended by the Party leadership?

2) If elected or re-elected to Parliament and required to choose between accepting the supremacy of European Union law in this country and leaving the European Union, would you vote for British withdrawal?

If you cannot answer both of the above in the affirmative, do you accept the line currently taken by William Hague, which is to oppose our joining the Eurozone for this and for the next Parliament and to resist any further British integration into the European Union?