Andrew Duff MEP

Liberal Democrat Member of the European Parliament for East of England

 Andrew Duff MEP for East of England

E-commerce and the new economy

  • E-commerce will make the single currency obsolete. Unless the entire world adopts one currency, this is just not true. Currency fluctuations will remain as much a barrier to trade over the internet as to most other forms of trade. Caspar Bowden, Foundation for Information Policy Research Director (www.fipr.org), has said: "Web-trading will intensify competition in many sectors but it will not eliminate transaction costs arising from exchange-rate risk."

  • Britain is more suited to exploiting the e-economy than the rest of the EU. This is untrue. During 1999, online households in Britain as a proportion of total households were fewer than in other EU countries like Germany, the Netherlands and Sweden.

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