Anatole Kaletsky writes in the The Times about Tony Blair's troubles and Gordon Brown's options. He describes what German monetary policy in the early 90s and U.S. foreign policy today have in common:
Mr Major's failure as a prime minister was down to a fatal policy mistake: his decision to keep Britain in the ERM [= European Exchange Rate Mechanism] regardless of cost. In doing this, the Tories effectively handed control of monetary policy to the Bundesbank, just as Mr Blair has subordinated foreign policy to the White House. (...)Considering the lasting impact of the ERM disaster on British attitudes towards Europe (on top of the already existing Eurosceptism/-phobia), what long-term impact will Blair's foreign policy have on British attitudes towards the United States?
Like US foreign policy today, German economic policy in the 1990s was run by a pair of arrogant but incompetent ideologues. Theo Waigel and Helmut Schlesinger, the German Finance Minister and Bundesbank President, were to economics what Donald Rumsfeld and Dick Cheney are to the art of war. The German leaders of the early 1990s managed to turn their once-great economy into the sick man of Europe, just as Mr Rumsfeld and Mr Cheney have reduced America from a military superpower to a paper tiger. (...)
To my mind, Mr Blair's truly unforgivable crime was not the invasion of Iraq. (...). No, Mr Blair's crime was to continue backing President Bush after it became obvious that his policies were criminally negligent, politically cynical and doomed to failure. Mr Blair was the one man in the world who could have forced President Bush to back Colin Powell, sack Donald Rumsfeld, close down Abu Ghraib and Guantanamo and launch a serious drive for Palestinian statehood.