Cable argued that sterling\’s vulnerability strengthened the case in the medium to long term for the UK to be \’locked into a bigger currency block\’ – meaning entry into the euro. The case for euro entry was also put by leading economist and commentator Will Hutton. \’The pound buying less than a euro is an important psychological moment. Britain first doubted the euro would be launched, then whether it would survive, then whether it would ever become a serious currency,\’ said Hutton.
\’Even today people are rushing to pronounce its death warrant. Now it is plainly the world\’s second currency after the dollar. As the pound becomes more volatile and less valuable, the euro will be seen increasingly as a safe haven – a zone in which both British industry and the City of London would flourish. The question is not if Britain will join, but when – and how many working lives and businesses will be wrecked by ideological opposition before it does.\’
They\’re using the observable benefits of having a flexible currency to argue that we shouldn\’t have a flexible currency.
How do you argue with people this deluded?