“Introducing single currency was EU’s crucial mistake” – author
Christopher Booker says that Europe is facing a massive financial crisis for reasons that were predicted already in the 70s.
“The greatest mistake was welding Europe together not as one country but under one government – that’s what it is all about. You leave the national governments all in place but you hollow them out from within, you take away their powers – or they give away their powers – and you have a supro-national system of government. The one crucial mistake they made was to have a single currency because right from the start when it was first proposed 30 years ago, wise men – and women, no doubt – economists, including the chief economist to the British government, produced a report in the 1970s saying that the only way you can have a single currency is if you have a single economic government with a power to tax and a command over huge resources,” Christopher Booker explained.