Editorial: Single Concern

“THE best thing Britain did was not joining the euro...” These weren’t the words of Nigel Farage, of the United Kingdom Independence Party but my local bank manager who is Majorcan. While forecasts of an early demise of the euro have been silenced over recent months by the improving economic situation, the single currency remains deeply unpopular in Spain. Spaniards blame the euro for many of the country’s ills from price rises to the recession. I maintain that a sizeable number of Spaniards would vote for the return of the peseta if they were ever given the opportunity. And the peseta is still present in Spain more than 10 years after its demise. Spanish television quiz programmes always mention big prize money in pesetas because to this day some Spaniards have problems coming to terms with big sums  in euros. It is incredible but true. The “good old days” always invole the peseta not the euro. Up until a year ago many people were talking of the end of the euro and the return of the peseta. My bank manager is no fan of the single currency because he believes that it has left Spain little room to manoeurvre in these hard economic times. While Spain is quite happy to remain  part of the European Union the euro still remains a difficult pill to swallow. “If Scotland votes for independence I would urge them to stay with the pound and forget joining the euro,” he said. Words of wisdom?