The Nick Clegg / Lib Dem approach to the Euro

With The Times reporting that Nick Clegg is now the most popular party leader since Winston Churchill – no, really – perhaps it’s a good time to focus on some of Clegg’s Liberal Democrat thinking, on issues that voters say is of importance to them.

Right from the very outset, the idea of Britain joining the Euro currency has been said by financial experts to be something that would pose a ‘special risk’ to the British economy.  It is the one-size-fits-all monetary policy that would be a disadvantage and pose a special risk to economic stability and control of money supply and inflation.

Nevertheless, Nick Clegg, the strongly pro federal EU fan and former MEP, is an enthusiastic cheerleader of Britain joining the Euro.  Despite very real weaknesses in the Euro and the loss to Britain of its ability to manage the economy in Britain’s interests if we scrapped the Pound, Clegg has said that ‘Joining the euro would “anchor” the UK economy and protect it from “dangerous” currency flows’.

When will Clegg and his political wife, Vince Cable, be straight with voters?  Clegg’s  ‘plague on both your houses’ attack on Labour and the Conservatives has proved popular.  But who can tell where Clegg stands with so many flip flops?  Firstly Clegg and Cable were completely in favour of joining the Euro (their real position).  Then in 2008 they saw the public didn’t like the idea and so declared the Euro was off their radar screen.

But since then Clegg has again been arguing that we should consider joining the Euro.  The Euro remains on their radar screen as their manifesto declares their belief that it is in Britain’s long-term interests to join the euro, but only after a referendum.  That might sound like a safe offer.  But as we’ve seen in the past, referendum offers aren’t worth the paper they’re written on.

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2 Responses to “The Nick Clegg / Lib Dem approach to the Euro”


  1. 1 The King of Wrong 18/04/2010 at 4:35 pm

    I noticed this during the debate: “billions of your… money” (about 20 minutes in).

    Politicians would nearly always put the word “pounds” in there – either “billions of your pounds” or “billions of pounds of your money” – and the slight pause before he said the word “money” suggested he needed to think about it.


  1. 1 Those media attacks on Nick Clegg « Autonomous Mind Trackback on 22/04/2010 at 10:41 am
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