• 10 OCT 2011
By David Hughes | The Telegraph
Our columnist Peter Oborne has brilliantly chronicled the way the Financial Times has been the great cheerleader for the European single currency:
The FT flung itself headlong into the pro-euro camp, embracing the cause with an almost religious passion. Doubts were dismissed… The paper waged a vendetta against those who warned that the euro would not work. Its chief political columnist, Philip Stephens, consistently mocked the Eurosceptics. 'Immaturity is the kind explanation,' sneered Stephens as Tory leader William Hague came out against the single currency…Even as late as May 2008, when the fatal booms in Ireland and elsewhere were very obviously beginning to falter, the paper retained its faith: 'European monetary union is a bumble bee that has taken flight,' asserted the newspaper's leader column. 'However improbable the celestial design, it has succeeded in real life.'
This morning the FT editorial column is sending out a rather different message.
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