Mandy’s McAvity memory loss on the origins of the Euro crisisPosted on November 11, 2011
Peter Mandelson has been industriously digging himself a hole over the Eurozone crisis. Normally a fervent debater and a nimble performer when it comes to picking his words carefully, he got a bit of a shoeing from Paxo on Newsnight last night.
It can’t have been comfortable for the Prince of Darkness, but there are further troubles ahead if he sticks with the line of attack that he has chosen.
We’re choosing to be outside [the Eurozone] and not showing up at those Councils and bodies where the decision-making and economic discussions of the Eurozone are taking place
The problem he faces on this one is a curmudgeonly, sociopathic Scotsman called Gordon Brown. Back when Brown was Chancellor he was notorious for not bothering to attend the meetings of ECOFIN – the council of EU Finance Ministers. When the group met, McAvity Brown more often than not was nowhere to be seen.
Gordon Brown, Britain’s chancellor of the exchequer, has not been to Brussels for a single meeting this year….Mr Brown has the worst attendance record, going to barely half the meetings since 1999. In 2004 he made it to a little over a third of meetings.
The difference between then and now is that while today’s Government are refusing – rightly – to take part in building a new Euro bailout package, which would be as expensive as it would be unpopular, back then Brown was skipping the very meetings which sowed the seeds of the current Eurozone crisis.
Around that table in the late 90s and the early years of the 21st Century a consensus developed that it was acceptable for the vast majority of Eurozone countries to brazenly breach the Stability and Growth pact, running huge deficits and piling up vast national debt mountains.
Now that is crashing down on all our heads leaving Britain, Europe and even the whole world to pay a heavy economic price.
Brown opted out of those meetings, passing up a chance to warn of the consequences of the Eurozone countries’ actions. Then, of course, Mandelson went on to help him limp on as Prime Minister for three miserable, costly years.
Does the good Lord really want to start this argument?
Tags: Britain, Brussels, Coalition, Conservatives, David Cameron, ECOFIN, Economics, EU, Euro, Eurosceptics, Eurozone, Eurozone crisis, Gordon Brown, Guido Fawkes, Labour, McAvity, New Labour, Newsnight, opinion, Paxman, Peter Mandelson, Politics, Referendum, Socialism, Westminster