And, to add insult to injury, Ireland had to pay some of the bill to
bail out Greece!

The joys of Euro membership ...

The Euro must now surely collapse.

Maggie’s economist of choice, that arch monetarist, Milton Friedman
predicted it would be so.

He always argued that a single currency with a central bank could
never succeed alone without centralised fiscal responsibility across
the whole of Europe.

His advice was for Europe to adopt the best practice of the
Deutschmark and the Deutsche Bank to set Europe wide interest rates
and Europe wide spending levels.

Pity now also the poor Germans who must be appalled to be once again
experiencing fiscal irresponsibility of a sort they must have thought
they had so carefully left behind.

Credit where it’s due to Gordon as well who effectively overruled Tony
to delay our entry further into the Euro, not a difficult choice
though when you consider the mess the Tories had got themselves into
previously with the Euro.

I don’t know why we bother with Europe, the whole thing is flawed, we
would be much better off with the dollar and become the 51st state and
we could go back to Imperial measurements far better than all this
foreign muck that no one wants.