Saturday 23 September 2017

Groupthink led us into economic disaster and it still rules debate here

Former Taoiseach Brian Cowen
Former Taoiseach Brian Cowen
David Quinn

David Quinn

When former Conservative party leader and British Foreign Secretary William Hague addressed the European Business School in France in 1998 to warn against the euro, against Britain joining the euro and of the drastic consequences that would befall some of the countries that did join the euro, all of the great and the good in Europe were appalled.

Hague was dismissed as an oddity, in his own words as "almost pitiable".

But he said something that night which applies word for word to Greece today. He warned that some countries in the euro would find themselves "trapped in a burning building with no exits".

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