Tuesday 6 December 2016

Nicholas Leonard: Cameron has a lot more than economic woes to worry about

Nicholas Leonard

Published 15/11/2010 | 05:00

A demonstrator protesting against tuition fees kicks the windows at the Conservative Party HQ in London last week
A demonstrator protesting against tuition fees kicks the windows at the Conservative Party HQ in London last week

Eurosceptic politicians at Westminster are pointing to the implosion of the Irish financial system as conclusive proof that they were right to block Tony Blair's plans to integrate the pound sterling into the eurozone.

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Blair was enthusiastic about the political brownie points to be gained in Europe by abandoning monetary sovereignty but he was consistently opposed by the chancellor, Gordon Brown.

The former Conservative chancellor, Norman Lamont, who was in charge of the treasury during the mini-crisis in their economy in the early 1990s said last week that, if the pound had entered the euro, Britain would have been caught up in an unsustainable property boom every bit as damaging as that which has undermined Ireland's economy.

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