Monday, 1 December 2008

Barroso, the euro and The Guardian

This is an interesting little piece. Barroso says that Britain is closer than ever to joining the euro. It would appear that at least some people don't agree with him. As reported in The Guardian:

Nigel Farage, the leader of the UK Independence party, said: "The ruling elite would love to bounce us into the euro and will grasp at any straw to do so, for it's a step on the way to their dream and our nightmare, a federal superstate.

"We're told that some British politicians have said, 'If we had the euro, we would have been better off.' Whoever these people are we need to hunt them down and explain some simple economics to them. Membership of the euro would have meant lower interest rates in the boom, making the bubble even larger. And it would mean higher interest rates now in the bust, making the recession even deeper. The pound has fallen against both the dollar and the euro thus providing us with that fiscal boost that everyone says is so necessary, a boost which we couldn't have had if we were in the euro."

He said that if Barroso wanted to consult the people who mattered in Britain he should call for a referendum on the euro and the Lisbon treaty "so that the people of Britain can tell him where to go".

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