Abstract
At a time of numerous issues about an Economic and Monetary Union between the European Countries, Britain, which was a powerful state in Europe, was led to consider the membership. Eventually, Britain joined the European Economic Community and the Economic and Monetary System but the European plans still created several debates in Britain, opposing the Euroenthousiasts –those who were in favor of EMU– to the Eurosceptics –those who were not.
After being Chancellor of the Exchequer from October 1989 to November 1990, John Major was elected as Margaret Thatcher's successor, that is to say, as the British Prime Minister on November 28, 1990. This politician was chosen because he pursued a policy of compromise which ideally could unite the Conservative Party.
The main point of all this conflict resulted in the adoption of a single currency in all the countries of Europe, including Britain. To understand the issue about the Single Currency in Britain, we have to understand the start of the debate. In this case, the debate began as a result of the Delors report and the loss of
powers and advantages the British feared. We have also to present the single currency.
Jacques Delors was the president of the European Commission. In April 1989, he published a report in which he defined the EMU and foresaw the Maastricht Treaty. To implement the EMU in Europe means that the members of the European Union decide to share a single currency to intensify the Common Market and to make a Free Trade area.
Extract
[...] After being Chancellor of the Exchequer from October 1989 to November 1990, John Major was elected as Margaret Thatcher's successor, that is to say, as the British Prime Minister on November 28th This politician was chosen because he pursued a policy of compromise which ideally could unite the Conservative Party. The main point of all this conflict resulted about the adoption of a single currency in all the countries of Europe, including Britain. I. The debate on EMU To understand the issue about the Single Currency in Britain, we have to understand the start of the debate. In that case, the debate began as a result of the Delors report and the loss of powers and advantages the British feared. We have also to present the single currency. A. [...]
[...] Here again there is a problem since this solution is a compromise and that it did not mean neither if it rejected the single currency, nor if it embraced it. The MP's reactions were mixed. For instance, Bill Cash described this solution as a “victory for common sense” whereas the Times wrote it was a “classic case of jaw-jaw rather than war-war”₅. Others thought that it was a way for holding back. Unfortunately for Major, his proposal was not really taken into consideration and his career began to crack up as he did not satisfy the Conservatives' will. C. John Major: Euroenthousiastic or Eurosceptic ? [...]
[...] Johnson's maxim?"Major later said that he had picked the number three from the air and that he was referring to "former ministers who had left the government and begun to create havoc with their anti-European activities" (Wikipedia) When we look at the Johnson's maxim, we found the significant sentence about the “bastard”: ”better to have him inside the tent pissing out, than outside pissing in.” Quoted by the biographer of Major in the book : A Personal Biography. Major's defense during the Maastricht Debate of 1991. Other reference to the Johnson's maxim. Face to the “Conservative Way Forward” (Thatcherite party) on February 1995, Major sounded eurosceptic. ₁₁ Winston Churchill's famous sentence, refusing to join the EESC in 1951, often used to stress the Conservative nature of Britain which wants to play a special role in Europe. [...]
[...] We want to achieve a single market, with free movement of people, services, and goods, free movement of capital, and equal access to capital and financial services for all citizens and businesses in the Community.” If British agreed on these goals, it was because they were practical and because they could permit the economies to grow. The problem, according to Major, was the “federal Europe”. Britain agreed the first stage of the Delors prescription even if it required joining the Exchange Rate Mechanism. Nevertheless, to him, “the Delors report's proposals on monetary union are unacceptable” because they centralized power. For the British Government, it was important that each country kept its sovereignty. Joining €uro is not totally an advantage for Britain. C. [...]
[...] Indeed, during the years 1992-1993, Major chose to sit with the Euroenthusiasts. He went too far, saying there were “bastards (who) were spreading poison”₉ speaking about the Eurosceptical members of the Conservative Party. The fact that he based his enthusiasm on the successes of the ERM and the Maastricht Treaty will contribute to the loss of his credibility at the moment of the Black Wednesday and the down of the ERM. This period preceded the 92 election for which he had to assure that the Maastricht Treaty was ratified to gain the support of other parties: the Labor Party, the Liberal democrats, the Ulster Unionists He passed the election and he came back to his fist compromise logic. [...]
