MacShane’s Foresight

If only we had listened to Denis MacShane just two years ago, we wouldn’t be in the horrendous mess we are now:

“For more than a decade we have been told that the euro was a terrible idea, while the good old pound sterling would protect the British economy from the wily ways of the Europeans. Now more and more people are asking why the pound is letting us down – and whether treating it as a shibboleth that cannot be questioned makes sense any more. All the old arguments against the euro have fallen away. There is no European super-state emerging with its adoption. There is no dictation of economic policy from Brussels.

If the euro were used here as it is without fuss in countries we are close to, including Ireland and the Netherlands, then the next Governor of the European Central Bank could easily be a Brit. But if British voters are no longer going to feel like poor relations whenever they holiday in other European countries, then before long someone is going to have to begin making the case that like shillings and pence, the pound may now have had its day.”

As we know he is an expert with funny money…




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