Of course the referendum on Britain’s EU membership is about much more than economics. It is a vote over how Britain wishes to be governed – by either an elected parliament in Britain or an unelected Commission in Brussels. However, with such economic wisdom supposedly on the side of the Remain camp, it is worth recalling the attitude that Euro-enthusiasts in Britain once had for the euro. The continent’s single currency, needless to say, has been an economic disaster. Yet had the pro-EU crowd had their way, Britain too would have been part of this union of monetary mess.
Among many, it was self-evident that Britain should join the euro. Some of the most influential politicians in the 1990s and 2000s were fervently pro single currency. From Danny Alexander and Paddy Ashdown, to Tony Blair and Peter Mandelson, Ken Clarke, alongside Nick Clegg, Chris Huhne, and Chris Patten. At the same time, supposed key dispensers of financial and business wisdom in the country such as the Financial Times and the Confederation of British Industry (CBI) were also making the case for the euro.
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