Labour leadership candidate and chief economiser advisor on the right-hand of Gordon Brown whilst he was Chancellor of the Exchequer, Ed Balls
made an interesting appearance on the BBC4’s Today Programme
Mr Balls, pictured above left alongside Mr Brown, was a key figure in the formation of the Five Economics Tests
that were designed to “determine when the UK was fit to join the Euro single currency
” yet never be decided as met for political reasons, and spoke about the Labour Party’s period in Government, and in particular the division within the Cabinet towards adopting the single currency:
"There were times we had to make big decisions, and I'll give you one example - the issue of joining the single currency. Tony Blair wanted to join the single currency, so did many in the Cabinet.
“I personally thought that would have been a profound mistake for Britain, for our country - I made that argument very hard, as did Gordon Brown. I think we look back now, and say that we were right not to join the single currency".