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Brown the Euro Skeptic

http://www.breitbart.com/article.php?id=070622180143.3uidalz0&show_article=1

Incoming prime minister Gordon Brown on Friday said that it was still not in the country's interests to join the eurozone, though he refused to rule out the possibility.

The country's longest-serving finance minister without interruption told BBC television that while "it would be a good thing to have monetary union" in principle, his conditions for joining the single currency had not been met.

Brown, reputed to be more of an Atlanticist than a Europhile, is famed for his well-known "five tests" -- self-imposed criteria to ensure that joining the Euro is in Britain's economic interests.

"It is unlikely in this year ... it's unlikely next year," Brown told the broadcaster in a wide-ranging interview ahead of his promotion to prime minister next Wednesday.

He said that the way forward would be to "do the studies as we do, to make recommendations to parliament, and if these recommendations are not to join, then we shouldn't join".

"At the moment, the position is that it is not in Britain's best interest, given all the problems that we would face to join."

European Central Bank President Jean-Claude Trichet questioned Britain's decision not to enter the now 13-nation single currency zone in an interview with the Financial Times last month.

Trichet told the business daily: "If you look at the figures, Ireland is growing faster than the UK. Ireland has a GDP per capita which is higher. Fancy, Ireland in the euro area with GDP per capita over and above the UK one?"

"I mean, are you so sure the UK made the best choice? But again, it's entirely up to the UK."

Tony Blair was more in favour of joining the euro in his early years as prime minister, but the issue has slipped off the British political agenda in recent years.

A British television documentary to be broadcast Saturday claims the prime minister once offered Brown the premiership in 2001 if he agreed to euro membership, but that the chancellor of the exchequer was steadfastly opposed.
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Who would have thought – there appears to be an alliance between the British and Polish Euroskeptics. Wow.

On another note – it is amazing that Ireland is bypassing Great Britain economically.
Go Irish!!

Re: Brown the Euro Skeptic

Funnily enough I was speaking to an Irish colleague about Ireland's boom last week. He says Ireland's economy is doing well because of the massive investment from the EU. He reckons that once investment runs out things will level off. So while it's to do with being in the EU, it's hardly to do with being in the Euro.

The UK has done very well without joining the Eurozone. I've never been convinced of the benefits other than savings on exchange rate diffs.

Interestingly the colleague thought Poland is the next biggest area for growth and investment (and this is before I mentioned my Polish roots and we were not even discussing Poland).

Re: Brown the Euro Skeptic

"He says Ireland's economy is doing well because of the massive investment from the EU. He reckons that once investment runs out things will level off. So while it's to do with being in the EU, it's hardly to do with being in the Euro. "

USA is Ireland's largest trading partner and foreign investor, followed by GB, followed by other EU nations.

Ireland's economy has been growing fast paced for over 10 years. They have the lowest corporate and capital gains tax rates in the West. The Celtic Tiger.

What is remarkable is that Ireland was the poorest Western European nation in 1986. Now it's one of the wealthiest in the world. Maybe Poland could follow their lead.

Re: Brown the Euro Skeptic

Ireland = EU handouts and the English language.

Re: Brown the Euro Skeptic

and a tiny population.

Re: Brown the Euro Skeptic

A hardworking educated population. I've heard the Irish education system is more demanding than that in the UK.

Re: Brown the Euro Skeptic

!!!

Have you ever been to Ireland

Re: Brown the Euro Skeptic

I've known plenty of Irish people in the UK Hans. They do have universities in Ireland!

Re: Brown the Euro Skeptic

I've lived there and the Irish are not known for their intellect.

Re: Brown the Euro Skeptic

ooh you racist!

Re: Brown the Euro Skeptic

God I hate that word! In the words of another member "so what" .

Re: Brown the Euro Skeptic

>I've lived there and the Irish are not known for their >intellect.




but we're cute, and we sing sad songs when we're drunk.

Re: Brown the Euro Skeptic

The Irish economy is truly the Celtic Tiger. Amazing progress. Worth remembering that Ireland having 3 million citizens in the republic is very much a 'Boutique Economy', and linked very closely with the UK.

But if you see how many dynamic Irish companies and entrepreneurs are operating in Warsaw, it's clear that they're on a roll.

And most of the Irish people I know are of well above average intelligence. Don't the Americans have a certain similarly unfortunate stereotype of the Poles?

Re: Brown the Euro Skeptic

Well the Americans like the Irish. JFK was after all of Irish ancestry. The Irish seem to have a romantic image there unlike their image in England.

It's an anomaly because in general Catholic ethnic groups are looked down on in the states by the wasp snobs which maybe goes back to the Pilgrim fathers.