Regarding defence:
The conclusion is inescapable: now is the time for the UK to reinforce, not wreck Europe’s security relationships, both through the European pillar of Nato and through cooperation with the EU. That means developing its own military capabilities as the US pulls back, as well as exploring a UK role in potential decision-making bodies such as a European security council.
Regarding the economy:
Labour should be open to renegotiating all barriers to cooperation – including integration with the single market in a Swiss-style deal.
Thoughts?
True, but trying times make strange bedfollows. Just as it is our opportunity to justify rejoining, the EU probably, pragmatically, recognises the need for as much military and economic strength as possible.
I wonder if the UK would have to do something extraordinary like give up the pound. Like to settle the question for some decades.
There’s no way they are getting to keep the pound. Zero chance.
We should keep the pound, but tie its value to the euro at something like 1.25 euros to the pound. Functionally identical, but it sounds like the pound is better, as long as you’re content to just look at the numbers and not give it any thought at all (which is probably the case for a lot of people who would complain about giving up the pound)
Just FYI a currency isn’t strong because 1 unit is worth more, like you can have 100 pounds worth 1.25 euros, you’d just have 100 times more pounds in circulation.
When an economy does better, it usually strengthen its currency and vice versa, but there are downsides to a “strong” currency, like your exports will be more expensive.
It’s not simple all that, and you are absolutely right when you hint at bad actors misinforming wilfully.
Oh I’m well aware of that, but I think that people who have a positive emotional response to keeping the pound will also have a positive emotional response to seeing two prices next to one another and the one in pounds being lower.
Absolutely worth it when the pound is so weak.