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The great euro swindle
Daily Telegraph ^ | 22 September, 2011 | Peter Oborne and Frances Weaver

Posted on 09/22/2011 12:37:19 AM PDT by ScaniaBoy

Very rarely in political history has any faction or movement enjoyed such a complete and crushing victory as the Conservative Eurosceptics.

The field is theirs. They were not merely right about the single currency, the greatest economic issue of our age – they were right for the right reasons. They foresaw with lucid, prophetic accuracy exactly how and why the euro would bring with it financial devastation and social collapse.

Meanwhile, the pro-Europeans find themselves in the same situation as appeasers in 1940, or communists after the fall of the Berlin Wall. They are utterly busted. Let's examine the case of the Financial Times, which claims to be Britain's premier economic publication. About 25 years ago something went wrong with the FT. It ceased to be the dry, rigorous journal of economic record so respected under its great postwar editor Sir Gordon Newton.

Turning its back on its readers, it was captured by a clique of left-wing journalists. An early sign that something was going wrong came when the FT came out against the Falklands invasion. Naturally it supported Britain's entry to the Exchange Rate Mechanism in 1990. In 1992, it endorsed Neil Kinnock as prime minister. It has been wrong on every single major economic judgment over the past quarter century.

The central historical error of the modern Financial Times concerns the euro. The FT flung itself headlong into the pro-euro camp, embracing the cause with an almost religious passion. Doubts were dismissed. Here is the paper's Lex column on January 8, 2001, on the subject of Greek entry to the eurozone: "With Greece now trading in euros," reflected Lex, "few will mourn the death of the drachma. Membership of the eurozone offers the prospect of long-term economic stability."

(Excerpt) Read more at ...

TOPICS: Business/Economy; Foreign Affairs; News/Current Events; United Kingdom
KEYWORDS: emu; eu; euro; thatcher
IMHO a very important article. How could so many "good" people be so totally wrong about? And why were did they not listen to the lucid arguments of the "sceptics"?

Some other interesting quotes:

Speaking in the House of Commons in 1936, Winston Churchill said: "The use of recriminating about the past is to enforce effective action at the present."

An important lesson for us in Europe about the EU and the Euro, and for the US once the Obama presidency is over.

So here's another lesson: be wary of cross-party alliances. Again and again, it is the lonely, cussed figures who stand outside the establishment orthodoxy who are vindicated over time.

A quote for us Palin supporters to cherish.


1 posted on 09/22/2011 12:37:24 AM PDT by ScaniaBoy
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To: bruinbirdman; SAJ; 2ndDivisionVet; Sarah Barracuda; onyx; Virginia Ridgerunner


2 posted on 09/22/2011 12:38:56 AM PDT by ScaniaBoy (Part of the Right Wing Research & Attack Machine)
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To: ScaniaBoy
That's funny.

On your last quote in italics I was saying to myself that's Palin - and bam, the next line, Palin... ;-)

3 posted on 09/22/2011 12:58:12 AM PDT by DB
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To: ScaniaBoy

Right on!

4 posted on 09/22/2011 2:44:00 AM PDT by Virginia Ridgerunner (Sarah Palin has crossed the Rubicon!)
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