All very valid points, and as someone in business who does a small amount of business in Europe the answer must be yes. Many people I speak to (including me, not that I speak to myself, well not too often...) dislike the idea of the loss of the pound.

A buddy of mine came up with an idea: why not alter the value of the £ to equal 100 Euros? Also alter the value of the FFranc = 100 Euros etc etc. Make all the European currencies acceptable in all European countries, and hey presto! No problem with exchange rates, no apparent loss of sovereignty etc. It might be a little messy with different names of currencies, but what is wrong with dual marked currency?

To try to keep a country's currency in it's home country, banks could periodically exchange the different county's currency with one another. BUT that would cost the banks, and we all know how little money the banks make, don't we? (Whoops, sorry Ickle Dorritt!)

John