German President Roman Herzog delivered a staunch defence of Europe’s proposed single currency in Strasbourg this week…

Date: 12/10/1995

...saying it was needed if competitive devaluation of currencies was to be avoided. Begging Germans not to cling to the deutschemark, Herzog told the European Parliament that a single currency would marry consumer and producer interests. He also called for a “mutual understanding” policy to be developed between the EU and countries in the Mediterranean region.