The continent is a collection of different languages and labour-market traditions and individual approaches to deficits and inflation. … Angela Merkel is plainly facing significant unrest from a growing constituency who see no reason to pay ever more in their taxes to finance … the periphery of Europe.
I think we deserve an apology. By “we” I mean all the Euro-sceptics, Euro-pragmatists, Euro-realists and Euro-hysterics who were alarmed by some of the optimism that surrounded the birth of the single currency. Do you remember the disdain with which we were treated? We were told that we were boss-eyed Little Englanders. They used to say we were a bunch of xenophobic, garlic-hating defenders of the pint and the yard and the good old bread-filled British banger.
Whenever we protested about any detail of the plan for monetary union, we were told that we were in danger of stopping the great European train, boat, bus, bicycle or whatever it was. We were a blimpish embarrassment to our country, a bunch of idiot children who had to be shooshed while the grown-ups got on with their magnificent plans.
So it gives me a tingling pleasure to report that everywhere you look on the map of Europe we have been proved resoundingly and crushingly right.
Continue reading Snooty Europhiles should eat dirt
We can take no pleasure from the euro’s fall
Euro-sceptics should not gloat over the eurozone crisis – we’ll feel the pinch too, says Boris Johnson.
Talking yesterday to my old friend and colleague Phil Johnston, who happened to be editing this page, I was reminded how right we were, all those years ago, about the euro. In 1990, he and I were sent by this newspaper to cover the Rome summit – the one where European leaders ruthlessly ambushed Margaret Thatcher and tried to get her to agree to what was then called the Economic and Monetary Union of Europe.
It was a blood-curdling scene. Thatch was backed into a corner – a minority of one – as they all piled into her, Kohl, Mitterrand, Andreotti, Delors. Come on, they said, let’s create a single currency! Let’s scrap the franc and the Deutsche Mark, and let’s scrap the pound while we’re at it. No, said Thatch.
Continue reading The Eurozone