Saturday, 17 January 2009

Currency - Another Thought

Considering the posts on currency and coins & notes along with the Calman report's conclusion that they will not consider them further:

"9.13 We believe that certain functions are integral to the effective functioning of the United Kingdom as a sovereign nation-state with international responsibilities, and where devolution would be undesirable in principle because retaining them at UK level is fundamental to the very concept of Union. These comprise ... currency ... These we will not consider further."
- Calman Commission, First Report, Page 100

Does this not raise questions for the London parties involved on the matter of the Euro?

If they are saying the currency is integral to "the very concept of Union" are those parties involved not now ruling out the Euro for good (or any other currency union)?

It may not be a problem for the Conservatives considering their (present) position. Whether that remains considering you never say never in politics is another matter.

However it does raise questions for Labour (to some extent) and the Liberal Democrats in particular.

Peter Mandelson has been quoted as saying:

“...our aim, our goal, should be to join the single currency...
However that has to taken in the context that Labour's position is not that clear.

However it is clearer from the Liberal Democrats' Vince Cable:

"With the exchange rate falling, growing numbers of people will question the wisdom of Britain staying out of the Euro.

"The Liberal Democrats do not believe that a decision should be made in response to short term exchange rate movements, but should be made on the long term merits of entry. Nonetheless we do expect to see a shift in public opinion, as Britain's weakness is exposed.
Doesn't support for joining the Euro therefore question "the very concept of Union" since a "union" currency - Sterling - is integral to it?

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