Guido has been amusing himself with some lunchtime reading thanks to Open Europe concerning the ill-fated predictions of some past supporters of the Euro. Watching Westminster’s major players eat humble pie never gets boring.
What they said then:
“Opponents of the euro have been disheartened as their predictions of chaos and disaster have failed to materialise.” – Ken Clarke, 2002
“If we remain outside the euro, we will simply continue to subside into a position of relative poverty and inefficiency compared to our more prosperous European neighbours.” – Nick Clegg, 2001
“While we are using a different currency from the rest of Europe we are trading in this market with one arm tied behind our back.” – Peter Mandelson, 2003
What they say now:
“I never advocated joining at the exchange rate, we never could have joined in the exchange rate in 1997.” – Ken Clarke, 2010
“I don’t think the euro is for now…I accept that Eurozone interest rates over the last few years would have been wrong for Britain.” – Nick Clegg, 2010
“The competitive value of the pound is helping exports and increasing the sourcing of manufactured goods in the UK.” – Peter Mandelson, 2010
Awkward…
