WE DID WARN YOU

Inflation has been back in the news of late as the costs of things increase more than the Bank of England’s Monetary Committee want. They have a problem as they don’t want to up interest rates in order to bring our inflation rate down in case it stifles what little growth there is. However, if it’s bad for the bods at the Bank of England, just consider the headache facing the shadowy figures in the European Central Bank (ECB).

Our Monetary Committee have only the disparities of the various parts of the British Isles to cope with, the ECB has a vast area covering all its eurozone countries with all their varying economies to struggle with and just one interest rate to do it.

As Euroscpetics constantly warned, this is an impossible task as a ‘onesize fits all’ interest rate cannot work for the whole of Europe. Sadly, the introduction of the euro had little to do with common sense or any fiscal logic, it was formed with the sole intent of tying all of Europe together and the further the EU’s political aim of creating a single nation called Europe, or as it will most probably become, the United States of Europe under the full control of the EU Commission.

Despite their ideological fantasies, the euro just aint working and is creating immense pressures on the economies of the European Union nations within the eurozone – this is now creating inflation which is becoming a serious problem for the ECB.

As we warned, the German economy could do with a higher interest rate as its economy begins to improve and its manufacturing sector increase, while Spain, Portugal and other countries could do with lower rates as they still suffer, the increase in their V.A.T. rates to try to pull them out of the mess has not helped either as this too has added to the cost of living in those countries.

As the sickly monopoly money, the euro struggles, and its member countries suffer, those of us who have long been against the political integration of the European continent into one nation can sit back and gloat; we did warn you. We also warn that the only ay out of this mess is to disband the EU and its failed concept before more harm can be done.