I see that George Soros, the man who broke the Bank of England in 1992 has been all over the press this week. He’s been promoting his book ‘The Tragedy of the European Union’.
“There are many nations that go through long periods of stagnation, but they survive.
“Japan has just had 25 years of it and is desperately trying to get out of exactly the situation that Europe is moving into.
“But the European Union is not a nation. It is just an association of sovereign states, a very incomplete association, and it may not survive.
“This euro crisis has converted what was meant to be a voluntary association of equal sovereign states that sacrificed part of their sovereignty for a common benefit into a relationship between debtors and creditors.
“The debtors can’t pay their debts and are dependent on their creditors’ mercy, and that creates a two-class system. It’s not voluntary and it’s not equal.”
He also opines that it would be ‘impossible’ for post independent Scotland to share Sterling and that a new independent currency would provide speculators with ‘a field day’. He foresees an independent state as being up a creek in currency terms and presumably being unable to locate a paddle.
Of course it is just another scare story…….