I MUST be one of the sceptics whom Gary Arthurs, of North West in Europe, criticises (Letters, June 12).

I think that changing to the euro would cost me and many other people and small businesses a great deal of money in pensions and savings, etc.

In February and March last year, on holiday in Spain, I got 1.56 euros to the pound.

In the same period this year, the rate was 1.44 to the pound. Now, it has dropped to 1.35 euros.

A drop of 21 cents in 15 months is a lot of money and works out at about 14 per cent.

While, for a holiday, this may be just one of those things, what is not acceptable is, that if we went into the euro, at this time, my pensions and savings would devalue by the same amount.

As when this country went decimal, I think we would find the price of essential goods and foodstuffs would be rounded up in price in a very short period unless, as happened in Spain, everything is still marked in dual prices -- euros and pesetas -- as this seems to have stabilised a lot of prices.

JOHN MACKEN, Grey Street, Burnley.