The outlook for the Eurozone is for ‘protracted weakness’
Friday, 1st November 2019

• HAVING said that he had never “denigrated… people who voted to leave…” Patrick Edlin proceeds to do just that, (Brexiteers promises ignore the realities, October 25).
He says that Brexiteers would make “any promise while exploiting frustrations irrespective of social-economic impact”.
Fighting talk and with no evidence he goes on to hypothesise that if the result in 2016 was reversed Brexiteers would for ever argue for referendums until they won one. Pots and kettles come to mind something about a “people’s vote”.
The truth they will not face is that in 1975 the losers were cut from different cloth, with style and good grace accepted the result, did not cry foul or use as an excuse that they were lied to.
What so infuriates remainers is that leavers saw through the lies that were told to frighten them into voting to remain.
The remain campaign was based on contempt for the electorate, outrageous government spending, mendacity and suborning people who should have known better. Not much has changed. If remainers had shown proper respect they might have done better.
Meanwhile, back in fantasy land, Belgium has passed a law banning negative interest rates on savings. This is a country seeking to protect its banks from the European Central Bank policy that will crash the Eurozone banking system.
The reality that remainers refuse to face has been spelled out by bank president Mario Draghi in his valedictory speech.
The outlook for the Eurozone – “prominent downside risk” and “protracted weakness”. A man whose reputation is in danger of being shredded? Can anyone explain the euro to me?
STEPHEN SOUTHAM, N1