Thank you for this warm welcome. It is a pleasure to be here and it is amazing to bring the message that, "We Won!" (Cheers)

I had a problem when preparing for this meeting when I realised there was the prospect that it might be "Yes".

I had a feeling that it would be far more "interesting" to come here with a "No". (Laughter)

So, for "security" reasons I wrote a manuscript in case it were "Yes". What was I going to say?

Well, I am glad to say that it is not necessary! (Cheers)

First of all, I can tell you that the referendum yesterday is an event that has some very deep Nordic implications. I met some friends from Norway and they said, "Oh, the Danes voted Norwegian!"

And my Swedish friend who is a member of their Parliament said it was the biggest victory that Sweden has ever gained!

Well, we have the advantage in our peculiar little country, Denmark, that fortunately for us we were asked if we wanted to go further into the European integration process. We have a constitution which requires that if there is a proposal to abandon sovereignty in some way then there is a duty to ask the people. And I think that this is an advantage!

I know for instance that in Germany up to two-thirds of the population is opposed to the euro but they are not asked. The same is true in Holland, and of course in Britain. The people are not asked. And this makes the very elemental point that it is a conflict between the elite and the people.

I'm going to tell you a bit about our experiences. We have had a very busy time in our campaign. It was, in fact, a struggle of David versus Goliath.

Goliath was on the inside. He represented all the power: The government and all the governmental apparatus were used endlessly. The big industrialists, the organisations of the employers, and even employees. They made a common campaign for a "Yes". They had ten times as much money as the "No" side. They had the power and the state prestige.

We on the "No" side had the arguments and the people! That was extraordinary. It was indeed David versus Goliath.

The most important experience during this campaign was that the people won. It tells me you cannot deceive an enlightened people. That's very, very important.

You saw, during the campaign, that the voice of the people was up against the full weight of all the power, the prestige, money, and Press.

Thirty-three out of thirty-six big Danish newspapers were in favour of a "Yes" and they did not hesitate to bring their message to their readers. The two big television stations, were actively engaged in a "Yes".

If the "No" side had important information and messages it was presented, ridiculously, as if, "Oh the 'No' side is a co-operation between the extreme right and the extreme left, with no Parliamentary responsibility."

The whole strategy of the "Yes" side was to make us look ridiculous and irresponsible, and more than that they imposed upon the "No" side a feeling of inferiority. They told us in an editorial in a newspaper that voting on the 28th of September is just a question of IQ! That is a marvellous message! They tell us, "You are stupid" or perhaps criminal. Or at least, you cannot be taken seriously. And this message was reported every day over many, many weeks.

But nevertheless, the people told the power, "We do not want to join the euro!"

But behind this democratic experience is the substance. Why are the Danes telling the government and the power and big finance that they do not want to join the euro?

There might be a sort of natural resistance. If you are intimidated by big megaphones and power then you are going to react. You can't stand that. It's a sort of natural resistance.

But more than that there is a broad feeling and knowledge that the idea behind the euro is not to benefit the Danish economy and enterprise - the aim is political.

It is a question of more integration. We hear the euro is a "very stable" currency. I say the only thing stable is that it is declining. It is a very stable decline!

But the essential point is why is the euro declining? What are the economic reasons for the decline? The reason is naturally that the market has no confidence in a currency which lacks the political instruments to make it a proper currency.

This is the point that many of the leaders in the European capitals made clear years ago. The German Chancellor, Herr Schroeder, said it is meaningless to create a single currency without an economic government. The same message was given a couple of months ago by the French Minister who is now Chairman of the European Council.

It is obvious that the hidden agenda for the euro is that when you accept the euro, you accept a very, very intense and total intent for integration. That means more central power to the European Union institutions in Brussels and Frankfurt. That is the real reason why the Danes oppose. And here we have a very interesting and in some ways disgusting experience. Since Denmark joined the Common Market in '72, the governments of Denmark have never told the people the truth about the project.

They know in the Danish government and state apparatus, that Danes do not want to be integrated and to be a sort of municipal government in a big European state. They don't want to be an outskirts in an EU empire. Therefore, at every time from '72 and during the referendums concerning the single currency, the single market in '86, and during the referendum concerning the Maastrict Treaty, and the Edinburgh decision in '93 and the Amsterdam Treaty - every time they told us: "This is not a question of political integration. It is just a question of an efficient economy."

And the Danes are meant to respond, "OK, if we can get some more money for our cows, then OK. And we don't want to get poorer. And, of course, we want more butter on our bread and so on."

They thought they could argue that way. They can't do that any longer. (Cheers)

One interesting detail and perhaps one of the explanations behind the success of the "No" side is that the Minister who was responsible for the Danish entrance to the Common Market in '72 was the Minister for Danish Market Affairs. He has been a very front figure for the Social Democratic Party for many years and a member of the Cabinet during the '70s and the beginning of the '80s. He announced in March that he would vote "No". The reason, he explained, was that when we joined in '72 there were economic reasons. At that time exportation was agricultural. Half of it went to Great Britain and a third to the Common Market countries and it meant that if Britain were going to join the Common Market we would lose much at that time.

He said, for purely economic reasons, that we should join. We on the "No" side - I was on the "No" side also then - argued that the whole idea behind the Common Market was ever closer union. "No, no, no," he said, "that is just something they are telling us in Italy and France. There's some stupid ideas about that. It doesn't mean anything."

But afterwards he realised that wasn't true. In '92 he said OK, we are accepting some limited union, but without the Danes joining the euro. Today he says that what his opponents said in '72 was right! It is a political project and further integration is intended to realise the purpose of the EU, which is ever closer union.

"That's not my policy," he said. And he told the Danish people and his fellow Social Democrats that, "I'm going to vote No". That was extraordinary and that was a sort of witness who was very, very important. That is a crucial point. Finally the people realised that this is not a question of bacon and exportation and economic gain - it is a question of political integration. The Danish people have realised that we have been deceived from '72 until today!

The "Yes" side and the government were saying, "Oh these No-sayers are nothing but a Christian Party which is marginal, and a Socialist Party which is marginal, and a Nationalist Party which is marginal." But they look and also find that 48% of ordinary Social Democratic Party members are also voting "No". They are coming also from the big Conservative Party and the big Liberal Party.

But these voters have no Parliamentary representation. In the Danish Parliament there are no members of the Conservative or Liberal Parties voting "No". No-one! In the Social Democratic group consisting of more than 60 persons there are only two shy individuals who do not want to stand out among this huge majority for "Yes". Their voters and their members voting "No" are not represented.

It is not a struggle between right and left. It is not a struggle between different political attitudes. It is a question of: Are you going to defend your own democratic traditions and your own democracy? Are you going to rely on your own capacity? Of course, with a Yes to Europe, but not a subordinate nation in the EU. Agree to co-operation, yes, but without this bureaucratic autonomous system which has developed in Brussels.

Finally, we had a very heavy day - and night! If the Danes had voted "Yes", we would have closed the road. It would only be a one way road for the Danish people and furthermore it would have a hindrance on the Swedish decision.

That is why my Swedish friend and colleague said it was the biggest victory that Sweden has ever gained. It means that Sweden will not join and certainly, it has significance as a symbol and manifestation here in Britain too.

And in the Danish context this referendum will force the government and the big parties to a deep self-reflection. They have to admit that the people do not want the way the government is showing.

In the European context, as I said before, most people do not have the democratic opportunity to express themselves in a referendum and that means we had a great responsibility because we were voting on behalf of other people who do not have our opportunity.

We were told during the campaign that, "Oh it is a purely Danish affair. It does not mean anything. The foreign countries are not interested."

But I know there has never been an event in Copenhagen - and our little country - where the foreign Press and the foreign conscience about what is going on, has been so enormous.

It is fantastic. First of all there is the Danish significance, but furthermore it is a democratic reminder to all the EU bureaucrats and the leaders of states who are going blindly one way to creating more union.

I believe this is the beginning of the end to the euro.