Saturday, 13 June 2009
Time to dump the pound?
I do occasionally grit my teeth and read what Mandy has to say now he is our newly appointed (not elected) Deputy Prime Minister in all but name. He was my MP for several years and not once did I meet him without feeling queasy and slightly nauseous. However, on a trip (no doubt fully expense?) to Berlin Lord Mandelson hailed the euro as a saviour that had brought stability to the European Union during financial turmoil.
He claimed the euro has been a great success in anchoring its eurozone members during this financial crisis and that we should all recognise that this represents a major vindication for the single currency.
We should all be worried, (well all of us who love our country and wish to see it remain strong and independent), that the man making most of the government's policies has declared that Britain should join the euro.
Any country joining the Euro surrenders total control over monetary policy. If we had scrapped the pound interest rates would have been lower in the boom and would now be higher. Under the euro, Gordon Brown's boom and bust would have been even deeper.
As an illustration of how out of touch Labour are with real people you couldn't ask for a better example than Lord Mandelson calling for Britain to ditch the pound.