October 3, 2004
HOW MANY LEGACIES DOES A MAN NEED?
Blair targets 2007 to scrap the pound (Brian Brady ,Scotland on Sunday, October 3rd, 2004)
Tony Blair is fighting for a third term as Prime Minister in a bid to take Britain into the single European currency within three years and guarantee his legacy.Blair is convinced he can persuade the British people to ditch the pound, and Downing Street strategists have earmarked the autumn of 2007 for a referendum on the issue.
Labour sources believe a victory in a euro vote might give Blair an exit strategy that would enable him to leave mid-term with his reputation intact while allowing time for his successor to prepare for the next election.
But the move is certain to increase the tensions between Blair and Gordon Brown, whose attitude to the euro is known to be much cooler than the Prime Minister’s. Last night, one Brown ally accused Blair of pursuing a "vanity Premiership". [...]
Downing Street has earmarked the autumn of 2007 as the optimum date for a referendum after private polling and the results of focus group interviews presented to Blair over the summer suggested the overwhelming gap between those who would vote against entering the euro and the ‘‘Yes’’ camp was narrowing.
It isn’t easy to figure him out.
Posted by Peter Burnet at October 3, 2004 4:41 PMKudos to Blair for his stance on the war but putting the UK into the EU would be a big mistake.
Posted by: AWW at October 3, 2004 5:15 PMI'm no expert on this high-finance stuff, but wouldn't a compromise position be to fix the exchange rate between the pound and the euro? Wouldn't that have the same economic effects, and yet be reversible? Not advocating, just wondering.
Posted by: PapayaSF at October 3, 2004 10:36 PMPapayaSF --
From a practical point of view that would seem to be the case but the EUrocats in general and the French in particular would find this approach totally unsatisfactory.
For example, Brit grocers are charged with a crime if they sell produce by the pound even if they weigh it out on a metric scale.
Posted by: Uncle Bill at October 4, 2004 9:57 AMHe is a Labor party member, after all. His stance on the WOT is his biggest contradiction.
Posted by: Robert Duquette at October 4, 2004 11:02 AM