Gordon has been listening. Well that’s what he promised to do isn’t it. He has been listening, and maybe reading my blog. He has explained, more in sorrow than in anger, that he was right all along.

I have got it all wrong. It seems that I have as usual been looking at events through the prism of self-interest.

When he told that nice Mr Blair that the euro was Bad for Britain, it wasn’t that the euro was bad as such. No, no; badness would come from having it in our pockets in place of the pound. His old friend Mr Wilson, he reminded me, had had wise words to say about the pound in your pocket being just as good a pound, if not even better, after devaluation as it had been before.

The euro, provided it's in the foreigners' pocket, is just dandy.

You see Eurojohnny is now getting so many more pounds for his money that he is shoving our competitors out of the way in order to snap up our cheap goods and services. Our businesses are bursting a gut to fulfil his orders. Our workers are enjoying lots of overtime pay. The Poles can’t get as many zlotys as they used to so they are leaving, freeing up employment opportunities for our keen-to-work unemployed. Our overseas call centres are being relocated back home to take advantage of the sinking pound. Mr and Mrs Eurojohnny and all their hundreds of little eurocents are flying in in droves to spend money in our world famous and historic tourist traps.

Everyone is making enough money to outweigh that 20% rate loss by a country mile.

Remember too that Eurojohnny has overtaken Uncle Sam as our main trading partner so the fact that his dying dollar won’t buy much from us isn’t as important as it once was. In fact it gives us the opportunity to snap up his cheap goods and services and fly over to spend our money in his quite world famous but not so historically ancient tourist traps.

So for every Briton who is not a non-working part-time resident of Euroland, and even I have to admit that that’s a lot of people, everything is fine according to Gordon's analysis.