New year message
January 2009
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| The ostrich is not a bird native to the United Kingdom. But
yet again, the British political elite and media elite are imitating the ostrich on a
matter of European policy, this time in their refusal even to discuss the possibility of
the UK joining the Euro-zone at this time of economic turbulence. We keep hearing that
Britain is leading the world out of recession but the truth is that we are in deeper
trouble than many of our neighbours on the continent and – unlike them – we are
sailing in a very small boat indeed. No-one, for a moment, suggests that other EU member
states are immune to the financial crisis nor that some of them face major problems. But,
for those in the Euro-zone, there is a stability that comes both from sharing the
world’s second largest currency and from the diversity of economies it covers. Of course, 15 years ago the British media were quite convinced that the single currency was a nonsense – the idealistic fantasy of addled federalist minds; there was no way France and Germany, let alone other members states, would ever merge their currencies in a monetary union. Then, in 1999, when the euro was born, it became fashionable to argue that it would only last a few years before internal strains would bring it crashing to the ground. Ben Patterson, in an excellent paper entitled The Euro: Success or Failure, points out that in The Times, Anatole Kaletsky wrote repeatedly about a currency area paralysed by tight monetary policy and inflexible labour markets sliding into inflation. How times change. In the words of The Economist of 3rd January 2009, the Euro is seen as: “a haven ... attractive because of the currency zone’s size, political stability and sound monetary policy.” continued in right column |
continued Britain’s myopia requires more than new spectacles, it requires an operation. But who is to perform it? Both major parties compete to distance themselves from discussing UK membership and the Liberal Democrats appear to back-track from their previously courageous stand. The media won’t even engage in an intelligent and informed debate! This is a scandal of monumental proportions and one which the European Movement is pledged to expose and remedy. At a well attended and vibrant meeting on Saturday 10th January, EM members listened to two first class presentations by Graham Bishop and John Stevens – both experts and doughty campaigners for the UK to join the Euro-zone – and demanded that the Movement begins a campaign for a real debate on the issue. (Read papers by Graham Bishop here and by John Stevens here.) Polls indicate that over 70% of British people still oppose Britain’s membership of the euro. That is not a surprise – what is more amazing is that so many still support our joining the Euro-zone when so much of the information with which they are bombarded is incomplete, ignorant and biased. Let’s not fool ourselves, Britain is in a mess. We’re not leading the world; we are trying to cope with the failures of the past thirty years of isolation. We need to integrate ourselves more not less into the European Union and joining the Euro is a crucial step. Peter Luff Chairman |
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