Tony Blair is now Sir Tony.

[JohnD]

Socialists ( aka Labour Party )

 

[JohnD]

devaluation

Oh no, my mistake, that was a Conservative government.

 

[Notch7]

Why would Blair lie about WMDs?

whats your real reason for hating Blair?

Its all to do with Irish politics, isnt it

 

[bernardgreen]

Oh no, my mistake, that was a Conservative government

Are those headlines about Black Wednesday 16 September 1992

https://www.ig.com/en/news-and-trade-ideas/forex-news/black-wednesday-explained-181217
( Joshua Warner | Writer, London | Publication date: Monday 17 December 2018 13:37 )

The debate continues about whether the short-term costs of withdrawing the pound from Europe’s currency scheme was worth the economic recovery that followed. We have a look at how Black Wednesday panned out and explain why it is still relevant now.

 

[JohnD]

The debate continues

you're a bit late to introduce the idea that a financial crisis leading to devaluation can be beneficial.

Why didn't you mention it before?

Oh yes.

of course.

In the same way that sometimes you like "Socialism" and sometimes you don't.

 

[crystal ball]

Probably the tax payer's money and maybe some loans,

I recall the International Monitory Fund refusing to bail out a Labour government until they sorted out the UK economy and repaid some of the debts that they had run up.

Is that not "other peoples money"?

 

[AngleEyes]

oh stop the revisionism.

There was public support for the Iraq war well before Blair and his WMD.

There was also considerable public opposition to it.

 

[AngleEyes]

it was for 9/11

part of the war on terror.

A lot of people did not buy that at the time.
One would have to be foolish to believe an Iraqi exile about the up-to-date armament capability of Iraq. But that is what happened.
It was recognised at the time that the source was 'iffy', but too much reliance was placed on it, nevertheless.

In addition Saddam did himself no favours by allowing rumours of chemical and nuclear weapons to circulate without hindrance. Perhaps he thought it might prevent an invasion.

 

[AngleEyes]

temporary success, which was mostly riding on the coat tails of the time, his mass immigration policy was not a good idea, short term it worked wonders and the middle class of the time were singing his praises, they had surplus cash and went out and bought houses the cost of which went up, and people made lots of money, wages stayed low, aswell as interest rates and inflation etc and then the balance started going all out of kilter, creating generation rent a bone of contention with many today..

Interesting that you think that immigrants can determine economic policy and repercussions in UK.
I thought they only came to receive benefits, and take the available jobs, and create no-go areas, and crowd into accommodation, and prop up the NHS, etc.

it wasnt all bad for blair there were some good policies.. but not enough i believe to provide him with a title...

It would be interesting to hear how you think recent honours have been deserving.
For example:
David Winton-Harding.
Bill Wiggin
Robert Goodwill
David Ord
Dominic Johnson
Mark Lowcock
etc. etc.

 

[bernardgreen]

In the same way that sometimes you like "Socialism" and sometimes you don't

Have I ever said "I like Socialism" ? I do not like the overall philosophy of Socialism.

 

[ajohn]

Have I ever said "I like Socialism" ? I do not like the overall philosophy of Socialism.

What is the philosophy of socialism? What is different about the Tory doesn't seem to be a word for them other than maybe capitalism or radicals / change merchants that always seem to have the same end effects.

 

[sxturbo]

Are those headlines about Black Wednesday 16 September 1992

https://www.ig.com/en/news-and-trade-ideas/forex-news/black-wednesday-explained-181217
( Joshua Warner | Writer, London | Publication date: Monday 17 December 2018 13:37 )

The debate continues about whether the short-term costs of withdrawing the pound from Europe’s currency scheme was worth the economic recovery that followed. We have a look at how Black Wednesday panned out and explain why it is still relevant now.

interesting read that.

european politics have always had a disliking for the british

 

[AngleEyes]

interesting read that.

european politics have always had a disliking for the british

How do you come to that conclusion from that article?
Did you read it?

The cause of UK exiting the ERM was identified as:

Quite simply, the rate at which the UK had tried to peg the pound was too high, the economy was not strong enough and higher interest rates ultimately failed to prop up the pound to the desired range.
From Bernard's link.​

How is that remotely the fault of the Europeans?

 

[ajohn]

Quite simply, the rate at which the UK had tried to peg the pound was too high, the economy was not strong enough and higher interest rates ultimately failed to prop up the pound to the desired range.

Fact of life a lot of people are unaware of that so all sorts of strange ideas creep out including not wanting to use the euro. The euro is a common trading currency for the countries in the EU and we did want to get into it. The USD is the other common trading currency hence the need in some respects but while there has been talk of trying to elevate the euro to that level it has never happened.

 

[sxturbo]

How do you come to that conclusion from that article?
Did you read it?

The cause of UK exiting the ERM was identified as:

Quite simply, the rate at which the UK had tried to peg the pound was too high, the economy was not strong enough and higher interest rates ultimately failed to prop up the pound to the desired range.
From Bernard's link.​

How is that remotely the fault of the Europeans?

Lol, if you read the article properly you will find it clearly states the ERM failed to do what was required and did not prop up the under performing currencies. The bundesbank was the one that elected not to do so in this case. This decision sent the pound spiralling beyond control and then the idiot politicians of the time made it even worse by increasing the interest rates too much too quickly.

Had the bundesbank not reneged on its obligation it might not have been so bad, and may have remained manageable.