“Does he concede that the whole basis of the Maastricht treaty is the establishment of a European central bank which is staffed by bankers, independent of national Governments and national economic policies, and whose sole policy is the maintenance of price stability? That will undermine any social objective that any Labour Government in the United Kingdom—or any other Government—would wish to carry out. Does my hon. Friend recognise that the imposition of a bankers' Europe on the people of this continent will endanger the cause of socialism in the United Kingdom and in any other country?”

— Jeremy Corbyn

Question http://hansard.millbanksystems.com/commons/1993/jan/13/treaty-on-european-union-1 in the House of Commons (13 January 1993). 1990s

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Jeremy Corbyn76

British Labour Party politician 1949

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“I thank the Foreign Secretary for giving way. I assure him that at least 60 Labour Members voted against the Bill on Second Reading and I am sure that they will vote against the Maastricht treaty again tonight, primarily because it takes away from national Parliaments the power to set economic policy and hands it over to an unelected set of bankers who will impose the economic policies of price stability, deflation and high unemployment throughout the European Community.”

Jeremy Corbyn (1949) British Labour Party politician

Speech http://hansard.millbanksystems.com/commons/1993/may/20/european-communities-amendment-bill in the House of Commons (20 May 1993). 1990s

“If my hon. Friend is now envisaging the establishment of a federal Europe, will he not reflect that the Maastricht treaty does not take us in the direction of the checks and balances contained in the American federal constitution? It takes us in the opposite direction of an unelected legislative body—the Commission—and, in the case of foreign policy, a policy Commission that will be, in effect, imposing foreign policy on nation states that have fought for their own democratic accountability.”

Jeremy Corbyn (1949) British Labour Party politician

Speech http://hansard.millbanksystems.com/commons/1993/mar/30/treaty-on-european-union in the House of Commons (30 March 1993). 1990s

“The economics establishment (universities, regulators, central bankers, government officials, various organisations staffed with economists) lost its legitimacy with the failure of the system. It is irresponsible and foolish to put our trust in the ability of such experts to get us out of this mess. Instead, find the smart people whose hands are clean.”

Nassim Nicholas Taleb (1960) Lebanese-American essayist, scholar, statistician, former trader and risk analyst

Ten principles for a Black Swan-proof world http://www.ft.com/cms/s/0/5d5aa24e-23a4-11de-996a-00144feabdc0.html?nclick_check=1, Financial Times, 2009-04-07. Ten principles for a Black Swan-proof world (2009)

“Economic and monetary union…is incompatible with independent sovereign states with control over their own fiscal and monetary policies. It would be impossible…to have irrevocably fixed exchange rates while individual countries retained independent monetary policies…such a system could never have the credibility necessary to persuade the market that there was no risk of realignment. Thus EMU inevitably implies a single European currency, with monetary decisions…taken not by national Governments and/or central banks, but by a European Central Bank. Nor would individual countries be able to retain responsibility for fiscal policy. With a single European monetary policy there would need to be central control over the size of budget deficits and, particularly, over their financing. New European institutions would be required, to determine overall Community fiscal policy and agree the distribution of deficits between individual Member States…It is clear that Economic and Monetary Union implies nothing less than European Government…and political union: the United States of Europe. That is simply not on the agenda now, nor will it be for the forseeable future.”

Nigel Lawson (1932) British Conservative politician and journalist

Speech to the Royal Institute for International Affairs, Chatham House (25 January 1989), quoted in The View from No. 11: Memoirs of a Tory Radical (London: Bantam, 1992), p. 910.

“Does my right hon. Friend not know that it is fatal for any Government or party or person to seek to govern in direct opposition to the principles on which they were entrusted with the right to govern? In introducing a compulsory control of wages and prices, in contravention of the deepest commitments of this party, has my right hon. Friend taken leave of his senses?”

Enoch Powell (1912–1998) British politician

Question http://hansard.millbanksystems.com/commons/1972/nov/06/inflation-government-proposals#column_631 to the Prime Minister Edward Heath in the House of Commons (6 November 1972) 1970s

“My hon. Friend is right in saying that the Bank of England has often operated against the interests of Labour Governments. That is due to the mandarins who run it. If the hon. Gentleman has such doubts about the running of a bank which theoretically is state-owned and state-controlled, what influence does he think will be possible in the case of an independent central bank dedicated to a course of Euro-monetarism?”

Jeremy Corbyn (1949) British Labour Party politician

Question http://hansard.millbanksystems.com/commons/1993/jan/14/treaty-on-european-union in the House of Commons (14 January 1993). 1990s

“Independence, the freedom of a self-governing nation, is in my estimation the highest political good, for which any disadvantage, if need be, and any sacrifice are a cheap price.”

Enoch Powell (1912–1998) British politician

Speech at Stockport (8 June 1973), from Simon Heffer, Like the Roman. The Life of Enoch Powell (Phoenix, 1999), p. 669.

“Besides the advantage of being armed, which the Americans possess over the people of almost every other nation, the existence of subordinate governments, to which the people are attached, and by which the militia officers are appointed, forms a barrier against the enterprises of ambition, more insurmountable than any which a simple government of any form can admit of. Notwithstanding the military establishments in the several kingdoms of Europe, which are carried as far as the public resources will bear, the governments are afraid to trust the people with arms.”

James Madison (1751–1836) 4th president of the United States (1809 to 1817)

Federalist No. 46 (29 January 1788) Full text at Wikisource
1780s, Federalist Papers (1787–1788)

“Independence, the freedom of a self-governing nation, is in my estimation the highest political good, for which any disadvantage, if need be, and any sacrifice are a cheap price. It is worth living for; it is worth fighting for; and it is worth dying for.”

Enoch Powell (1912–1998) British politician

Speech in Stockport (8 June 1973), quoted in The Times (9 June 1973), p. 3
1970s

“The policy of Great Britain is not the policy of alliances with any certain set of nations. It is a policy of friendship with those nations that believe in democratic forms of government and democratic development. The policy of Great Britain now is, and must be, and will be, that all nations in good will, in singleness, and in disinterestedness of heart will meet together, consider the great problems of Europe and the problems of the whole world, and agree, as the result of cooperation, discussion, and joint exchange of opinion, on a common policy which will make alliances absolutely a thing of the past.”

Ramsay MacDonald (1866–1937) British statesman; prime minister of the United Kingdom

Address to the German Reichstag (15 October 1928), quoted in The Times (16 October 1928), p. 15
1920s

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