UPDATE:- I said this the other day, too.
About 12 years ago, or it may be 13, I bet a YEM* person £25 that the Euro, recently issued, would sink to UD$1.00 by that Christmas. It did fall, a bit: my prediction was only wrong in degree – but I lost my bet and ponied up.
Now Peter Oborne thinks the project is at last about to come undone.
* “YEM” was the “Young European Movement”. God knows what’s happened to that.
And we should be thnkful to people like poor grey John Major, who made it possible for us to avoid – by the skin of our teeth, the fate of Ireland and Portugal…and possibly others.
It’s nice to imagine the EU self-destructing, but my opinion is that they’ll keep the Euro going somehow, and they’ll impose whatever sacrifices on the Euroserfs are necessary to do so.
Too much is at stake. The EU is a government, and governments don’t abdicate.
The USSR was a government, and even it, with all its missiles and internal police (neither of which the EU has access to, to any comparable extent) had to trash the Rouble and start again.
But I agree that they’ll probably try to hang on somehow.
Good job we’re not in the EU!
I would welcome the implosion of the euro. Many editorials in the conservative press say “we shouldn’t gloat, as we will be affected” but in truth our technocratic elite can only be knocked off balance in dire economic circumstances, and so our only chance to see them shafted is indeed in a crisis. So I am gloating, and looking forward to the break up of the euro.
I would not be grateful to John Major. Had it not been for Norman Lamont and the exit from the ERM etc, Major would have taken us into the euro.