Lord Mandelson causes controversy again
When Gordon Brown brought Lord Mandelson back to the Cabinet many people suggested he was either crazy or touched by genius. Initially it seemed that the move went down very well but today we saw Lord Mandelson commenting upon the euro and the fact that, despite opposition from UK voters, inevitably the pound will disappear in favour of the single European currency. This has caused significant controversy across the UK with Gordon Brown now under pressure to clarify his position on Europe.
This further widens the divide between Labour and the Conservative party with David Cameron adamant that his party will not support a move to a single currency. Lord Mandelson has been suggesting that the collective power of the euro has seen many European economies perform better than they would have by themselves. However, he seems to be missing the fact that the UK economy is now far outperforming its European counterparts and seems set to do so for some time to come.
There is a real danger that Gordon Brown could be "bounced" into a pro-European policy which could, if the recent polls are correct, lose the Labour Party significant voter support in the forthcoming general election.
Share this..
Related stories
Decline of cheques tracked by C&CCC
Cheques continue to decline in popularity, the Cheque and Credit Clearing Company (C&CCC) has said.According to the body, the number of cheque payments made per month per UK adult has declined from an average of 2.9 to 1.4 over the past decade.Among other cheque statistics released by C&CCC was the fact that almost half (48.4 per cent) of the payments are worth over £100.Surprisingly, the typical...
Read MoreFSA to ban self certificated mortgages
The Financial Services Authority (FSA) has announced plans to ban so-called self certified mortgages which had become very popular prior to the ongoing credit crunch. This is a situation which is set to hit the self-employed more than any other area of the UK economy, many of which have "lumpy" income which had led to a rise in demand for this type of mortgage. However, the situation has changed d...
Read MoreWhat can we learn from the Bernard Madoff affair?
As Bernard Madoff sits in a US jail facing a sentence which is expected to be in the region of 150 years it is highly unlikely he will ever feel freedom again. However, as the dust starts to settle on the court case which has thankfully been short and sweet many questions are now being asked about the role of the regulators in the US. The SEC has come in for intense criticism with suggestions that...
Read MoreLaws to tighten on ‘hidden’ card surcharges
Hidden surcharges that are applied to credit and debit cards in order to push up the price of goods and services purchased online or over the phone are set to be banned under a new ruling. An investigation conducted by The Office of Fair Trading (OFT) has convinced the government to set a deadline of the end of 2012 to call a halt to the practice. Currently the fees, which are frequently adde...
Read More