13 March 2009

New Labour should not have access to and independent currency

I have no faith that New Labour can manage the current economic crisis. Had they taken into public ownership the bankrupted banks, and used the new printed money to invest in industry through a public enterprise board, I would have supported the continuation of an independent currency to make that possible.

Instead we have billions printed and wasted in the banking sector for no gain for ordinary people. For that reason I would prefer the Euro, so my savings would be more likely to keep their value and Gordon would not have access to the printing press.

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