“Introducing single currency was EU’s crucial mistake” – author

14 July, 2010, 10:28

English author and journalist Christopher Booker spoke with RT about the causes of the economic crisis that the EU is facing, and shared his view on global warming.

Christopher Booker says that Europe is facing a massive financial crisis for reasons that were predicted already in the 70s.

“The greatest mistake was welding Europe together not as one country but under one government – that’s what it is all about. You leave the national governments all in place but you hollow them out from within, you take away their powers – or they give away their powers – and you have a supro-national system of government. The one crucial mistake they made was to have a single currency because right from the start when it was first proposed 30 years ago, wise men – and women, no doubt – economists, including the chief economist to the British government, produced a report in the 1970s saying that the only way you can have a single currency is if you have a single economic government with a power to tax and a command over huge resources,” Christopher Booker explained.