'You'll destroy your country!' Top economist damning warning against joining EU and euro

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    Speaking at an event before the completion of Brexit negotiations, the professor of economics at the University of Newcastle, New South Wales, in Australia, warned joining the EU and the eurozone would “destroy” a country.

    At the time, Mr Mitchell was warning off Scottish Remainers who hoped an independent Scotland could soon rejoin the EU.

    He said: “You’ll destroy your country if you join the EU.

    “And you’ll destroy it slightly quicker if you tie the euro.

    “And I know this debate within progressives on ‘the euro isn’t the EU’ – no, it’s not.

    “But the euro is the most advanced form of a Neo-liberalism that is entrenched in the basic legal structure of the EU.

    “So these europhile left people who tell everybody ‘oh yes, we accepted the EU’s corporate cabal but we will reform it, we’ll make it democratic’ – it’s draining.

    “They never tell you, and I’m sure a lot of you don’t actually know, what the trade revision prices require.

    “You have to get 27 member states to agree simultaneously.

    “It’s not going to happen. Not going to happen.”

    With the Brexit negotiations over and done with, plans for an independent Scotland to join the EU are still on Nicola Sturgeon’s SNP agenda.

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    Currently, 19 out of the 27 member states use the euro.

    Croatia, one of the EU countries yet to adopt the common currency, is on the path to joining the eurozone in 2023.

    After a decade since joining the EU, Zagreb, the European Commission and the Eurogroup president will sign a memorandum of understanding today to allow Croatian authorities to begin minting the new Croatian euro coin.

    There are five conditions member states need to meet before they can join the euro area: Price stability, sound and sustainable public finances, exchange-rate stability, long-term interest rates and legal convergence.

    The latter requires national legislation to be compatible with the Treaty and the Statute of the European System of Central Banks (ESCB) and the European Central Bank (ECB).



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