Sir; I hope and trust your headline on your feature about EMU, Do we stay left out?' (July 29) does not imply a firm editorial opinion on joining the single currency. It was entirely predictable that Niall FitzGerald of Unilever, a global manufacturer, was in favour of the single currency due to the stability' it affords with fixed exchange rates. This appears to be a powerful case for joining but most companies do not operate on this sort of scale, they are not global players, they operate in domestic or niche areas. Having recently spoken directly to businessmen in France and Spain (who also major in non-global' areas) they earnestly wish that the single currency did not exist. They realise only too well that the problem is not the strength of sterling, but the weakness of the euro. Britain may do half its trade with the EU but the remainder goes elsewhere. Likewise, the value of the sterling enables us to buy components and raw materials from around the world more cheaply ­ which benefits our costs and ultimately the bottom line. We hear the complaints of our exporters that UK goods are too expensive but we have been hearing this for the last 40 years. £1 once bought up to $4 and SF12. Now the figures are $1.52 and SF2.30 ­ and we are still "too dear". What we really mean is that we like to complain when selling abroad gets tough. There seems little doubt that at referendum the vast majority of the British public will vote no' (I predict 70/30). The government, of course, dares not ask the real question representing the hidden agenda behind the single currency question, which is: "Do you wish to be part of a European superstate?" If asked, the response would be more like 98/2 against. We must be wise enough to resist the blandishments of Blair and his cronies who doubtless hope to follow Kinnock at some stage into highly paid sinecures in Brussels. And resist those multinationals who care nothing for the real picture of business as typified by SMEs who wish Britain to keep control over its own interest rates, inflation and run its own affairs. Kevin Webb KWPR Lancashire {{LETTERS }}