THE DOLLAR TRILOGY OF NEW LABOUR

I began to reflect yesterday on the legacy of New Labour, and it struck me that "The Dollar Trilogy" might provide an alternative narrative for the Blair-Brown years as follows :

1997 to 2001

A Fistful of Dollars

2001 to 2005

For a Few Dollars More

2005 to 2010

The Good, The Bad & The Ugly

I refer, of course, to the dominance of "The Special Relationship" between the US and the UK for the past 13 years, the positive aspects of this and its serious consequences.

It must be remembered that New Labour came to power amidst the strong expectation that it would oversee Britain's entry into the Eurozone, although I thought at the time that this was unlikely.

However, the pervasiveness of "The Special Relationship" did not become entirely clear until after the UK joined forces with the US in Iraq, thereby calling into question not only external relations with other key members of United Nations and the European Union, but also within this country's own government.

This has had a very high price indeed, not least because both the US and UK governments clearly had their eyes off the ball from the mid-noughties on economic issues, and most notably in failing to intervene in the global speculative bubble from which the economies of both countries are still reeling.