The Uk has long had a majority against the Euro madness, and against further UK integration into the EU, as measured by issue polls. Last night Peter Oborne on Newsnight hit out against Mr Lambert, a typical representative of the UK establishment who told us we were all wrong to be against the Euro in the 1990s, and against a provocative performance by a representative of the EU who wanted to assure us that the Euro was doing just fine, ignoring the crisis swirling through Euroland economies and banks. Peter spoke out for the silenced majority who for years had their views marginalised or ignored by the fashionable establishment.
Mr Lambert used to edit the FT. I remember taking the idea to Penguin, owned by the same company as the FT, that I should be allowed to write the Penguin against the Euro, as they had rushed out a book praising it to the skies. They were reluctant, as their view was clearly my approach was wrong. I eventually persuaded them that they did need to show some balance and allow readers to see both sides of the argument. The FT was never so understanding, and did not receive my press releases and commentaries on the likely failings of the Euro with any enthusiaism or wish to report.
I did succeed with others in persuading the Conservative party. William Hague refused to rule out joining the Euro in his leadership campaign of 1997, which was why I could not vote for him. He was persuaded whilst Leader that the Euro would be ruinous for the UK if we joined. He changed his position and made his speech about the burning building with no exits. Subsequent leaders were all against UK membership.
The principal argument I used to put which the pro Euro Labour, Liberal Democrat, CBI and TUC forces found difficult to counter was the simple proposition that joining the Euro was like taking out a joint bank account with the neighbours. You were likely to ruin a good friendship with them, when you fell to arguing over the size and use of the overdraft. This unfortunately sums up the Euro crisis. Greece, Spain, Italy and Portugal want to use the common overdraft or borrowing ability to excess. The Germans do not want to help pay the interest and sustain the joint credit rating, but they are being drawn more and more into doing just that.