Margaret Thatcher knew the single currency would devastate Europe

[AndyDT]

https://blogs.telegraph.co.uk/news/peteroborne/100064330/margaret-thatcher-knew-the-single-currency-would-devastate-europe/

The first point to note is the British economic boom which ended in 2008 would have been headier still, thanks to the soft interest rate policies pursued by the European Central Bank in the early years of this century.
The second is that the subsequent crash would have been far, far worse. We would not have been able to lower rates as far and as fast as we did. We could not have devalued out of trouble. We would have been unable to fuel economic growth by printing money.

With these options unavailable, the recession would have turned into depression. It is likely that unemployment would now be heading towards five million and our already broken public finances would be in ruins. Just like Greece and Ireland, we would be unable to raise funds on the international markets and the IMF would have moved in. Angela Merkel of Germany would be offering a bail-out – but only on condition that we follow policies set for us in Europe. We would have lost our independence and become a wholly owned subsidiary of Brussels – the fate Ireland faces today.

[jsem]

Two words of what we need now: Competing currencies.

[rumborak]

What we need less however is Ron Paul parroting.

rumborak

[emindead]

Um, no.

Thatcher was savvy with her free markets. One of the few leaders that read and understood some Hayek.

[rumborak]

BTW, what the OP article completely neglects is the fact that Angela Merkel has led Germany into an economic boom, whereas the UK is still struggling to get on their feet. But, it's the Telegraph. It's like quoting FOX.

rumborak

[AndyDT]

The UK grew 0.8% and 2.1% last two quarters.