One of the main lessons that economists claim we have learnt from the 1930 crash and the subsequent depression that lasted most of the decade (and arguably contributed to the war that followed), was that the beggar thy neighbour policy of competitive currency devaluations was a major cause and should never be repeated.

How is it that the Eurosceptics in their smug gloating over the problems of the Euro, have completely ignored (or are ignorant of) this lesson.  Just because England is not in a fixed currency regime with Europe, does not mean that the rest of the world will give us Carte Blanche to get out of our problems by making theirs worse.