The UK opt-out from the euro is under threat from EU Remainers and the European Union.
Under the Maastricht Treaty and the Lisbon Treaty, the UK declined to join the European single currency (euro).
There are 19 ‘eurozone’ member states that that adopted the euro.
All these countries decided to abandon their currencies, thereby giving up control over their national monetary policy.
In other words, they have surrendered control to the European Central Bank (ECB) in Frankfurt, Germany.
The euro has been an economic failure, especially for Greece, Spain, Portugal, and Italy.
The EU wants deeper integration regardless of the economic damage the euro has caused.
That’s why the UK is better off out of the euro.
However, the EU Remainers say that the UK has a veto on joining the euro — but for how long?
If Labour or the anti-democratic Lib Dems ever get into power, then they could remove the veto.
Theoretically, the Remainers in Parliament could pass an Act of Parliament requiring the Prime Minister to give up the veto.
They could even get the Act through Parliament in just one day, just like the Surrender Act.
The eurozone is a political project, not an economic one
The European Union’s plan for a common currency was not to bring economic prosperity to EU countries.
The intention was far more sinister — to push for deeper integration of EU countries regardless of the economic consequences.
EU set a trap for Greece, Spain, Portugal, and Ireland — and they fell for it.
The allure of cheap interest rates offered by the euro enticed those countries to borrow like crazy.
Now they are in an economic straitjacket and cannot escape.
Youth unemployment rates
The European Union intends to wipe out the sovereignty of all nation-states in Europe
Some in this country say that fears of the EU forcing us to join the euro are completely unjustified.
In 1973 when the UK joined the forerunner of the EU, the European Economic Community (EEC), the then Prime Minister Edward Heath said:
“There are some in this country who fear that going into Europe we shall in some way sacrifice independence and sovereignty. These fears, I need hardly say, are completely unjustified.”
The above quote illustrates the mindset of Europhiles — they are willing to play the long game.
In the 1975 referendum, the question asked was: Should the UK remain in the EEC?
Everybody assumed that the EEC would never turn into a political union — those assumptions were wrong.
Now, the EU Remainers assume that because the UK has a veto on joining the euro, it will be this way forever.
How naive of them to think this way!
When the euro came into existence, the EU treaties made it clear that no country would be obliged to bail out another country.
After it became clear that the euro crisis was not going away, the EU then broke its own treaties to bail out Greece.
“When it becomes serious, you have to lie.”
— Jean-Claude Juncker (President of the European Commission), 2011
UK opt-out from the euro
Make no mistake! The European Union intends to wipe out the sovereignty of all nation-states in Europe.
Therefore, the EU’s long-term plan is to have a total unification of all European countries — political, economic, and monetary union.
So, although there is, for the moment, a UK opt-out from the euro, the EU is prepared to wait.
It may take ten years or 40 years, but the European Union is determined to get total control of Europe.