11 APR 2011
The failure of the euro will signify the failure of the European ideal, says Simon Heffer.
By Simon Heffer | The Telegraph
It is right to complain, as some have, of the outrageousness of Britain being asked to help bail out Portugal, Ireland and indeed any other nation whose membership of the euro brings it to the verge of penury. But there is an even deeper question here, and one that our complacent Prime Minister, our largely invisible Foreign Secretary and our inadequate Chancellor of the Exchequer ought to consider quite urgently: it is about the effect on our democratic values of this desperate attempt to save the euro.
We are not in the euro but we are in the European Union. The commitment Alistair Darling made for us to back bail-outs – which we should repudiate at once – is all part of our subscribing to the confidence trick of a united Europe. The financial crises of Greece, Ireland and Portugal have proved Europe cannot be united, certainly not under a single currency. Countries with no manufacturing base, a poor work ethic and little commercial expertise are being asked to march forward at the same speed as Germany. It simply can’t work.
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