"While dictators rage and statesmen talk, all Europe dances — to The Lambeth Walk."

Friday, 12 June 2009

Peter Mandelson Wants Britain to Join the Euro

Business Secretary Lord Mandelson has praised the 'great success' of the European single currency, the Euro, and declared that it is Britain's ultimate aim to ditch the Pound and join.

I find this interesting from a political perspective; no top politician has spoken publicly or seriously about joining the Euro for five years or more.

Keeping Britain out of the Euro is in fact one of Gordon Brown's major achievements as Chancellor - his 'five economic tests' pretty much buried all talk of the project.

As a former European commissioner, Mandelson receives a £31,000 a year pension - provided he does not criticise the European project.

Lord Mandelson, on a trip to Berlin, said: 'Does it remain an important objective for Britain to find itself in the same currency as that single market in which it interacts? Obviously yes.'

He insisted such a decision was for 'the future' and had to be made on the 'right terms in the right circumstances'.

However, he added: 'It is perfectly clear that the euro has been a great success in anchoring its eurozone members during the financial crisis.

'I hope people will recognise this represents a major vindication for the single currency.'

Presumably that would be a point in the future when Labour isn't second to UKIP in the European Parliament and Eurosceptics hadn't won astonishing political victories in Britain and Europe?

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