William Hague always knew the euro would go up in flames. But now he’s focused on the rescue operation
Politicians normally have to wait for history to vindicate them. For William Hague, vindication has come early. All his dire predictions about the dangers of the euro, so glibly mocked at the time, have come to pass. But as he makes clear when we meet in his study in the Foreign Office, he is not enjoying this moment. Rather, just days before the start of Tory conference, he is absorbed with trying to sort out the mess that others have created.
Leaning back in a red leather chair in what he boasts is ‘the grandest room in government’, Hague tells me: ‘It was folly to create this system, it will be written about for centuries as a kind of historical monument to collective folly. But it’s there and we have to deal with it.’
When I put it to him that Greece defaulting without devaluing — as the bailout plan apparently dictates — would be the worst of all worlds, he replies, ‘I described the euro as a burning building with no exits and so it has proved for some of the countries in it.
Comments
Join the debate for just $5 for 3 months
Be part of the conversation with other Spectator readers by getting your first three months for $5.
UNLOCK ACCESS Just $5 for 3 monthsAlready a subscriber? Log in