How deluded can you get?
José Manuel Barroso said that the UK is "closer than ever before" to entering the single currency, because of the fallout from the global financial crisis.
He told French radio that "people who matter in Britain are currently thinking about" membership, adding that the country was sufficiently pragmatic to drop its traditional hostility to the currency if there was a strong economic case.
"I\’m not going to break the confidentiality of certain conversations, but some British politicians have already told me: \’If we had the euro, we would have been better off\’," Mr Barroso said in an interview.
During the boom interest rates would have been lower, leading to a greater boom. Vide Ireland and Spain.
Currently, during the bust, interest rates would be higher than they are now, making the bust worse.
We\’ve used a depreciation in the currency to give us a fiscal boost, something that wouldn\’t have been possible if we didn\’t have our own currency.
So who are these idiots thinking that being in the euro would have been a better idea?