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Snooty Europhiles should eat dirt

The Bank of England

The continent is a collection of different languages and labour-market traditions and individual approaches to deficits and inflation. … Angela Merkel is plainly facing significant unrest from a growing constituency who see no reason to pay ever more in their taxes to finance … the periphery of Europe.

I think we deserve an apology.  By “we” I mean all the Euro-sceptics, Euro-pragmatists, Euro-realists and Euro-hysterics who were alarmed by some of the optimism that surrounded the birth of the single currency.  Do you remember the disdain with which we were treated?  We were told that we were boss-eyed Little Englanders.  They used to say we were a bunch of xenophobic, garlic-hating defenders of the pint and the yard and the good old bread-filled British banger.

Whenever we protested about any detail of the plan for monetary union, we were told that we were in danger of stopping the great European train, boat, bus, bicycle or whatever it was.  We were a blimpish embarrassment to our country, a bunch of idiot children who had to be shooshed while the grown-ups got on with their magnificent plans.

So it gives me a tingling pleasure to report that everywhere you look on the map of Europe we have been proved resoundingly and crushingly right.

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