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Interesting Article From I D S Here:
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Why should we take any notice of the CBI?
Why should we take any notice of the CBI?
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The CBI has been wrong with just about every bit of advice it has ever given on major economic issues. Best of all it supported the case for the UK to adopt the euro. Here's an article from 1998:
http://
"The Director General of the Confederation of British Industry, Adair Turner, has told business leaders not to be swayed by "ill-informed scare stories" and consider the benefits of the European Monetary Union. Speaking at a CBI dinner, Mr Turner said there were dangers associated with joining the single European currency but stressed that overall benefits would far outweigh them."
But here's the best bit:
Mr Turner said: "The euro will create a single market of transparent prices, reduced exchange rate risk and a pan-European capital market. Each of these will give a stimulus to competition and productivity growth across Europe."
Ask the people of Greece, Portugal, Spain and Italy, especially the younger generation of those nations (where upwards of 40% of them are unemployed) whether they think the euro achieved those aims. Of course Mr Adiar should have realised that the wretched Euromaniacs, with their precious "Project" paramount, squarely put the cart before the horse in espousing that the single currency would drive integration, not accepting that fiscal integration was a requirement necessary before the currency was introduced.
The CBI supported one of the most disastrous decisions visited on Europe since WW2 - one that has consigned a generation of people in four or five countries to penury and effectively ruined their lives. I'd take no notice of them if they told me the sun was going to rise again tomorrow.
http://
"The Director General of the Confederation of British Industry, Adair Turner, has told business leaders not to be swayed by "ill-informed scare stories" and consider the benefits of the European Monetary Union. Speaking at a CBI dinner, Mr Turner said there were dangers associated with joining the single European currency but stressed that overall benefits would far outweigh them."
But here's the best bit:
Mr Turner said: "The euro will create a single market of transparent prices, reduced exchange rate risk and a pan-European capital market. Each of these will give a stimulus to competition and productivity growth across Europe."
Ask the people of Greece, Portugal, Spain and Italy, especially the younger generation of those nations (where upwards of 40% of them are unemployed) whether they think the euro achieved those aims. Of course Mr Adiar should have realised that the wretched Euromaniacs, with their precious "Project" paramount, squarely put the cart before the horse in espousing that the single currency would drive integration, not accepting that fiscal integration was a requirement necessary before the currency was introduced.
The CBI supported one of the most disastrous decisions visited on Europe since WW2 - one that has consigned a generation of people in four or five countries to penury and effectively ruined their lives. I'd take no notice of them if they told me the sun was going to rise again tomorrow.
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