So
 
 
 
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                                 ON THE RECORD 
                          CHRISTOPHER HASKINS INTERVIEW   
 
RECORDED FROM TRANSMISSION BBC-1                                 DATE: 19.10.97
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JOHN HUMPHRYS:                         How do you read what's going on Mr 
Haskins? 
 
CHRISTOPHER HASKINS:                   I think we're getting ready to be told 
something.  I suspect that Mr Kohl tomorrow, is going to be told something, and 
I'd like that what Mr Kohl is told, is told to the House of Commons pretty 
soon, and I'd like Mr Blair to be saying that he supports EMU, he hopes it's 
going to succeed elsewhere, that we can't join it at the beginning because of 
reasons we well understand, but that if it's successful, and I believe that it 
will be successful, and I think he believes it will be successful, then we 
should participate at the earliest possible moment.
                                     
HUMPHRYS:                              So you think we've been told something 
already? 
 
HASKINS:                               I think that there is probably an 
indication, almost certainly an indication we're not going to join in 
nineteen-ninety-nine, and that's absolutely right.  The question then is, when 
is an appropriate time thereafter.  It certainly wouldn't make sense to say, 
not in January ninety-nine, but perhaps in July ninety-nine.  So I suspect 
we're talking somewhere into the new millennium before we consider joining. 
 
HUMPHRYS:                              But the reason I said, you don't think 
we've been told already, is because of the messages that were coming from the 
political advisors or the spin-doctors if you prefer, on Friday night. 
 
HASKINS:                               Well, I read the papers as much as you 
do, and I read the Sunday Times this morning which sort of said, well, perhaps 
the decision hasn't been finally made.  And the spin-doctors seem to use this 
process.  All governments seem to use this process to .. 
 
HUMPHRYS:                              Some more than others perhaps? 
 
HASKINS:                               Well, I think the last government was 
pretty good at it too. 
 
HUMPHRYS:                              Well, maybe they weren't as good at it 
as this lot, maybe that's the point.  This lot are using it because they were 
very good at it in opposition, and they're using what they learned in 
opposition in government, and it could possibly backfire on them couldn't it? 
 
HASKINS:                               Well, it may do, and I'm not going to 
advise a spin-doctor or anybody else how to run their affairs.  I keep running 
my business as best as I can do.  It isn't the ideal way from a business point 
of view to make these decisions clear to us.  We really do want the position 
cleared up sooner rather than later, and I do hope we don't have any more 
difficulties in the markets tomorrow.  I'm afraid we will.  I don't think we 
should, but I think we will. 
 
HUMPHRYS:                              So what damage does this sort of thing 
do to people like yourselves who are trying to do business? 
 
HASKINS:                               Well, in the short-term it doesn't 
matter.  We know that decisions have got to be made by the end of the year 
when there is a moment of truth for the whole of the Europen Union coming up by 
March, and clearly the decision's going to have to be made then, and we need 
a reasonably positive steer, and the steer we want in this business, certainly 
the CBI does, and certainly the British Chambers of Commerce do is that whilst 
we're not going to join at the beginning, in principle we are in favour of 
joining a successful EMU.  I think EMU will be successful and I think there 
will be little difficulty in that event of us joining at the earliest 
appropriate moment.  However one has to say that the Government is faced by the 
economic dinosaurs of the Left and the political dinosaurs of the Right and Mr 
Blair with all his problems in all sorts of areas has got to overcome these 
characters in carrying out all his policies, including the policy in Europe. 
                
HUMPHRYS:                              You mention the possible repercussions 
when the stock market opens tomorrow.  Do you think it would make sense for Mr 
Brown, Gordon Brown the Chancellor, to try to sort this out before that 
happens? 
 
HASKINS:                               No, no, no, I don't think so.  The stock
markets remember are pretty jittery at any rate, both in New York and London, 
and I don't think I would see a serious stock market problem.  I mean they went 
up rather erratically two or three weeks ago when there was a spin in the other 
direction, so they may come down a bit tomorrow, but I wouldn't worry about 
it. 
 
HUMPHRYS:                              But is that a healthy way to be going 
on, the stock markets bouncing up and down like rubber balls because of a spin 
one way and a spin the other way, and a spin back again and.... 
 
HASKINS:                               No.  Stock markets thrive on rumours and 
speculation.  I don't think that an awful lot of people are going to make or 
lose a lot of money because of this one.   I mean a much more serious factor is 
whether the general level of stock markets in New York and London is too high.  
That would worry me more than what the spin-doctors are doing to the markets. 
 
HUMPHRYS:                              And it worries you, or it would worry 
you if the spin that was being put on this on Friday night is true, and that is 
that the Government has decided not to go in for the lifetime of this 
parliament.  That would worry you? 
 
HASKINS:                               I think it would be closing down options 
unnecessarily, because I don't think that by saying that, you're going to get 
the debate out of the market at any rate.  We can't just say, "Well, we're 
going to forget about this matter for four years and then come back to it in 
four years' time".  I mean markets will still be anxious what's going to happen 
in four years' time. 
 
HUMPHRYS:                              Chris Haskins, thank you very much 
indeed.
 
 
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