This is in response to your last WordPress blog entitled: Why Ken is wrong on business and Brexit
Like so many Eurosceptics you come out with sentences like “the eurozone faced a chronic economic malaise as a direct consequence of the Single Currency, while we in Britain have thanked our lucky stars that we stayed out”
You offer zero proof for such a crass statement, so the kindest review of your post is to say that your post is just the usual “wrong then wrong now” ukip speculation.
First of all I would venture that the 2008 financial crash hit the UK just as hard as any country in the Eurozone. Having the pound offered absolutely no protection against that, as the following graph clearly shows:
Secondly although Britain may have had a better than average Eurozone recovery since then, Germany was actually back at pre 2008 levels four years before Britain broke even again in 2014. Well, as Germany uses the Euro and Britain uses Sterling: What was it exactly that we should all be so pleased about that we have to thank our lucky stars?
The problem with ukip supporters/politicians is that they are blessed with this wonderful thing called ‘selective perception’ and they assume we all carry the same kipper blinkers.
So they see eurozone countries like Italy and Greece suffering: In the same breath as spouting ‘believe in Britain’ they want us to accept without question Britain in Eurozone would have ended up in the gutter alongside bankrupt Greece? Never could they contemplate Britain’s manufacturing heartlands’ exports to Europe and the rest of the world might have benefitted enormously from a cheap Euro, like Germany’s exports undoubtably did. Never will they even entertain the very thought that, alongside the world’s premier financial services hub in the City of London, UK might have boasted a West Midlands/Northern industrial powerhouse at the same time, rivalling any German industrial area.
In a Eurozone the UK could have had the best of borth worlds: Top in both the financial sector and the manufacturing sector. Not only a surplus in ‘services exports’ but also a surplus in ‘goods exports’ and hence a positive balance of trade instead of the UK’s worrying combined current account deficit.
Today, it’s if only Farage’s and Cameron’s friends in the City of London count for anything, as if what we happen to manufacture in Britain is just an entertaining side show of no importance.
I am big enough to admit what I say above is also speculation, but at least I offer you two independent links (see below) from the Telegraph and the FT to back up my claims, claims so easily dismissed by the closed ukip mind set.
Can you do the same Roger, or should we just share your blinkered personal vision as the gospel truth?
Exhibit A: Telegraph Germany at pre-crisis level four years before UK
Exhibit B: FT Britain might have fared better in Eurozone