The European Commission has dismissed US Republican leader Mr Newt Gingrich's criticism of the European Union's plans for monetary union, saying his ideas took no account of reality.

In an article for Canadian-based Hollinger newspapers, republished in Britain's Daily Telegraph yesterday, Mr Gingrich said the EU's plan for economic and monetary union was "an extraordinary gamble" and could have very painful results.

Mr Gingrich, speaker of the US House of Representatives, said it was understandable that Britain was hesitant to join EMU and said he would support any move in the US Congress to offer Britain associate status in the North American Free Trade Agreement. "Mr Gingrich's statements only bind him," the European Commission's chief spokeswoman, Ms Martine Reicherts, told reporters in response to a question about the article.

"Mr Gingrich cannot know all of the subtleties of European politics," Ms Reicherts said. "His ideas are very original but take absolutely no account of reality," Ms Reicherts said.