The Danes are going to vote on the Single European Currency on September 28, and I am happy to live in a country where I don’t know the result before the electorate has voted.

Our Prime Minister Poul Nyrup Rasmussen called the referendum when he was sure to win. At that time the polls showed that he would have between 15 to 20 % more Yes votes than No votes. Since then, people have learned quite a bit, and the latest poll, which appeared last Friday in the Danish business daily showed

43 % Yes and
50 % No.

The No-side is, according to this poll, now ahead with 7 %. No-side - I hate the word, because we are not negative.

We say Yes to the Danish crown. It is the government and the 80 % of the members of our Parliament who say NO to our own currency. We are the people who want to keep our Crown as you want to keep your Pound.

Personally, I would not be against true international currency for international trade and transactions and tourism, but not instead of, but beside the national currencies. Then you still have the national parliaments with their governments, and the national banks with their currencies to promote growth and employment, redistribution and welfare, a better society for people - run by the people in parliamentary democracies. Then you still have democracy.

We are called the euro-sceptics. But, we are not sceptics, we are simply democrats. And euro-realists. We know you can’t run an economy without money, and we know you can’t have a single currency without a single government to control it.

Jacques Delors had the logic on his side when he demanded a common government to run 80 % of the economic decisions in the European Union. Jacques Chirac, Joschka Fischer and the European federalists have the logic on their side, when they demand a common parliament to control a common government to run a single currency.

It is the same logic we use to defend our national currencies. Currencies have to be run by people accountable to national parliamentary democracies.

We have the same logic as the federalists. But we have the people as well on our side.

We do not need to invent a Europhile people to run a European democracy. We take people as they are and promote democracy for those who are in our nations today. We are the euro-realists, and therefore we want to keep our currencies in order to run our economies in a way where we are certain that our electorates always have the last say.

A single currency might work in the US with a common language, culture and a willingness to move to other states in order to get a new job. One in four Americans is always looking for a new job in another American state. But even there, American Presidents are only elected with the support of a quarter of the electorate.

In Europe, we have much higher turnouts for national elections than European elections. We have no single common culture or language, nor are we experiencing a willingness to move to other countries for jobs. In Europe, the differences between the rich regions and the poorer regions are much higher than in the United States, and not even northern Italy is prepared to pay for the less developed parts of southern Italy.

The European Central Bank has only one aim, and that is to keep inflation between 0 and 2 %. This goal has only been fulfilled in Germany and in Denmark in 6 out of the last 30 years, but has now become a sacred goal for all eternity. Inflation is worth getting rid off, but growth, jobs and welfare are also important. Monetary policy is a tool, not a purpose. Economic policy is for human beings, not the opposite.

How can the most important thing in life be to have an inflation rate between 0 and 2 %?

You need to have a lot of other tools at your disposal in a democracy to make people happiest. You need income policy, structural policy, financial policy, social policy, taxation - but those means do not really exist yet - on a European level. Yet.

Therefore, in my opinion EMU is bound to collapse, or to develop into a sort of United States of Europe and then collapse because a European democracy will never function, even if it might be a beautiful dream.

The European Central Bank can only have one interest rate – which will always be to the benefit of the central economies. How can the bankers in Frankfurt get a uniform interest rate of 4 % to work like 2 % in Germany and 6 % in Ireland, if the demands are so distributed? It is quite logical when the French Presidency of the European Union now promotes a special secretariat for the euro-11 - soon to be 12 countries, with Greece.

They need more tools on a central European level - they need a proper government to run the single currency. That’s what the next InterGovernmental Conference and the constitutional process to follow will develop.

The Euro is not a common currency to promote trade; it is a single currency to promote a new state:

Chirac talks about a Europe of Nations, because he knows what people think. But with common borders, currency, citizenship, police, defence – the very essential tools of all nation states in the world - it’s the opposite of what they talk about. It’s an attempt to make Europe one state.

The Danish government has tried to isolate the referendum to a simple technical question of saving money when you change currencies. They have produced a report which tries to persuade people into believing that the possible saving on exchanging money for one year is bigger than all the one-time costs for changing from crowns to euro. We will save 0.3 % of our GDP every year in saved transaction costs, the government has calculated.

The Swedish Calmfors report calculated the same savings to be between 0.1 and 0.2 % and concluded that there were bigger risks at stake and advised the Swedes to wait with their decision on possible membership of the EMU.

The Danish government has refused to calculate the costs of changing all computer software, machinery, price lists and slot machines.

The strategy of the government and months of hard work was killed overnight by an independent report from the Danish Wise Men. They produced a very balanced report and concluded it by saying:

"Summing up, the Chairmanship assesses the purely economic costs and benefits for Denmark of EMU membership as being small and uncertain."

Interviews with most of the Danish Professors in Economy in the papers showed the same conclusion. Most economists will vote for the EMU – but for political and not for economic reasons.

At the same time the polls were equally divided between yes and no. Then Fischer and Chirac told us about our common future, and the polls then showed a majority for no.

The Danes are very much in favour of a common market and close co-operation, but the vast majority fear plans for political co-operation and state building. When Danes are confronted with economic arguments the majority normally thinks that they better do as told. Therefore, the government’s strategy was to have us think with our wallets instead of our hearts. This strategy failed completely, and now it might be too late to convince people to love the plans for more integration.

The Prime Minister was very careful when he moved forward the referendum (which initially was set for next year) to September 28 this year. He took the decision in the same week it became clear that Denmark was isolated at the InterGovernmental Conference along with the United Kingdom on social security matters and with Luxembourg and the United Kingdom on labour-related issues.

He can’t avoid accepting new areas of qualified majority voting in Nice – and particularly in the areas where the Danes have most to fear - and therefore he planned an earlier referendum in spite of his clear promises to the Danish electorate at the last general election.

His plan is now to get the majority vote for EMU and then have the Nice Treaty adopted in our parliament without a referendum. I said Nice, not nice.

The Danes are not to know that this little practical common currency actually is a founding brick in a bigger scheme, and they are not to know either, that the purpose is to abolish the Danish Crown forever. That is why the government also manipulates the wording of the question to be asked in the polling booths. It will ask if we support "a common currency". As you know, it is not a common, but a single currency.

You also know this currency was decided with the Maastricht Treaty. It already exists and the Danes voted on it in 1992 and then again in 1993. We have accepted that the euro countries run the euro, and we have accepted that the euro can be used in Denmark in parallel to our own currency. Indeed our own Minister of Economic Affairs has even taken out her mortgage in euro for her private house. And then she asks if we want a common currency. If she gets a No she will not change her loan, and Danish companies can continue to bill in euros, dollars, pounds or crowns as they please.

We live in a free country with freedom to choose, but what will happen after a Danish Yes is something they do not talk about: They will abolish the Danish crown forever.

Denmark has a written constitution, in which article 26 states, that Her Majesty’s Danish government has the sole right to strike "coins". It is an obstacle towards giving up the crown, but the creative Ministry of Justice has found a way. Aha, our constitution only speaks of coins. It does not mention notes. So we can legally get rid of our crown and let the EU strike our future money.

In Denmark it is also prohibited to counterfeit coins, so I have asked if that can be understood in a way which means that counterfeiting notes is then legal. If a contract forbid you to have dogs and cats in your apartment you are certainly welcome to have cows and goats… What a legal interpretation.

Then the Prime Minister promised we could always leave the EMU if we regretted joining.

Here I have the official answer from his own Council of Ministers:

"The Treaty contains no specific provisions regarding a Member State's exit, be it either from the European Union or from the third phase of the EMU" (My translation).

If we should want to leave, then the only legal way to do it will be to amend the Treaty by a unanimous decision. Then the decision will have to be ratified in all 15 national parliaments, and then finally signed by all 15 heads of states. Honestly, it seems easier not to join at all!

The most repeated argument in the debate is the size of the interest rate. The government says that it will increase by 0.5 % after a No. The largest Danish bank explains on television what that might cost every single family. Interest rates are only a cost, never an income, not even for the banks. The best brains in the best Danish banks have yet to discover that interest rates are also something you get for your saving accounts and your pension.

And apparently it is a very serious problem that the Danish interest rate might increase by 0.5%, but on the other hand it is not a problem that the European Central Bank has increased the interest rate by 1.75 % within the last year.

There is no explanation offered why the interest rate in Sweden did not increase the last time the Central Bank raised its interest rate by 0.5 % and now is below the interest rate in Euroland. I presented to Danish Television ironically the idea that they could add to their threats by making a story from Sweden explaining to the Danes how little you might get in interest for your savings if you don’t join the euro.

A big Danish company now states how they will have to pay 800,000 pounds more for their loans if we vote no. But every Dane, including this company, has the right to take their loans in euro, already now, if they so prefer. Other companies present threats of lost jobs if we vote no. Then they will not invest in our country any more. We meet the same threats in all referendums in all countries, and they have never proved to be right.

This week, Deutsche Bank advised their clients to sell Danish bonds in an attempt to put our currency under pressure. If you want to make easy money, buy the bonds when Deutsche Bank sells. The Danish economy has never been stronger.

In 1992 we had 9.2 % unemployment, the same number as euroland. Six years after our unemployment was cut to 5.1 %. In the same period euroland increased their unemployment to 10.9 %. And still they present threats of lost jobs if we vote no!

Then the government says that we would risk devaluing our crown if we vote No. But then the euro was devalued. Then they said it was not the euro which was devalued, it was the dollar which was revalued. In the last 18 months we have devalued our crown, which is closely linked to the euro, not only against the dollar, the yen and the pound, but also against the North Korean won, the Cuban peso and the Russian rouble.

Devaluations of the euro and the Danish crown are good for exports and jobs when it is done by the European Central Bank, and it is a catastrophe if it is done after a No.

There is something rotten in the arguments of the Yes-side in Denmark.

They don’t dare to ask the people the honest question: Do you want to be a part of a European common state, yes or no?

The Danish politicians prefer to deny all plans for future integration. The Prime Minister said (May 28 1998):

"A referendum concerning a Danish yield of sovereignty is not needed for many, many years to come"

The leader of the opposition said: "’Till here and not any further…"

They have said it in so many referendums that people do not believe them anymore. Therefore, we stand a good chance to have a majority for a No. Since they can’t find good arguments for abolishing the crown we meet negative campaigning against people on the No-side.

They started with a spin doctor lie that Lady Thatcher was collecting money for the Danish No-campaign. It wasn’t true. It isn’t true. But many Danes still believe the lie. It is true we had plans for making common initiatives amongst the Swedes, the British and the Danes fighting the same fight. The spin doctor lie in the main Danish paper made it impossible.

The Danish June Movement decided unanimously that we can’t accept money from other countries for the Danish No-campaign. We urge you to do everything to raise the resistance against the EMU in Great Britain. And why not call for a referendum on the Nice Treaty?

I hope a Danish No will bring new hope to Europe in the many countries where people are not allowed to vote on EU-matters. In Germany, 50 % are now against the EMU with only 31 % in favour. hope, a Danish No will make the Germans think before they exchange their savings and pensions in Deutsche Marks into euro lottery bonds.

In all of Europe people react against the fact that Brussels governs too much. On the question: "EU should only be responsible for matters which national, regional and local governments can not deal with" 62 % said Yes and only 18 % said No. This recent statistic is taken from Eurobarometer 52.

We should use a Danish No to campaign for Transparency, Decentralisation and Democracy.

We should slim EU from most of the 20,000 rules now being send to eastern and central European applicant countries to copy into their own legislation.

We should bring freedom into EU-regulations and directives by providing more freedom to the Member States to decide for themselves through minimum legislation and co-ordination instead of uniform supranational legislation.

We should bring decision-making out in the open instead of legislating behind closed doors in the Council, Commission and the 1500 partly secret committees.

We should think of democracy again.

It is a historical paradox that the EU consists of 15 democratic nations which forget everything about democracy when we share our sovereignty and legislate in common.

Last week I finished my book no 33 about the lack of democracy in the EU.

The title: If democracy shall be reduced.

And the last sentence: If democracy is to be reduced we should at least decide it democratically.

My books are not as popular as the books of my friend Frederic Forsyth. But the criminals in my books are not only bad guys stealing money. The enemies in my books are also stealing your right to democracy.

Therefore I am very pleased to speak at this Congress for Democracy.

It is what the whole fight is about. Nothing more, nothing less, the right for every citizen to choose.

Thank you.