European Commission interventions in the Irish economy should be a warning against the United Kingdom signing up to a single currency, a DUP Assembly member said today.
Sammy Wilson insisted that the UK should learn from the "mistakes" made by the Republic where the Euro has been a "currency disaster".
The East Belfast MLA said: "The Irish economy has already lost control over its exchange rate and its rate of interest.
"Both of these losses have helped contribute to the inflation which is now afflicting the Irish economy and have reduced the ability of the Irish Government to bring that inflation under control.
"Having lost control over monetary policy, the European Commission is now seeking to tell the Irish Government how it should conduct its fiscal policy."
Mr Wilson said the Irish government was now "rankled" at being directed by Europe that it must change its taxation system.
"The row between the Irish Republic and the European Commission once again proves the Euro supporters to be either liars or fools," he added.
"The United Kingdom should learn from the mistakes of the Republic. The Euro has been a currency disaster.
"Membership of it can only bring an economic disaster and a surrender of parliamentary sovereignty to the bureaucrats of Brussels."
PA