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French economy shrank. Unemployment @ 9.5%.

Former MemberFormer Member Posts: 1,876,323 The Mix Honorary Guru
http://news.bbc.co.uk/2/hi/business/2949318.stm

Why does Blair think adopting the Euro is a good idea again? My understanding is that Blair says it's the way to have influence over a market that is vital to Britian. Is that it?

I know the American boycotte had cost France a half a billion by April. And the Paris Hotel Association has called on Chiraq to resign. I don't know if that was part of the new figures. Our economy only grew by almost 2% (revised up).

Comments

  • Former MemberFormer Member Posts: 1,876,323 The Mix Honorary Guru
    I don't think France's problems are wholly linked to EMU membership. Certainly the French economy is growing faster than in Germany.
  • Former MemberFormer Member Posts: 1,876,323 The Mix Honorary Guru
    Well, righ now it's shrinking. But I guess the idea of why the UK should adopt the Euro is that then Britian would have a say over and continued access to a market that is vital to Britian's growth.
  • Former MemberFormer Member Posts: 1,876,323 The Mix Honorary Guru
    Actually no, pnj. Those things the UK already has by reason of membership in the EU. Adopting the Euro is more a case of eliminating the additional transaction costs incurred by UK businesses, especially small and medium sized enterprises in conastantly operating between two currencies.
  • Former MemberFormer Member Posts: 1,876,323 The Mix Honorary Guru
    Like mono says Pj any current problems in Europe are not necessarily caused by the Euro, that would have to be proved, it may be a contributory factor during this period of readjustment but I doubt it is the main cause..........
  • Former MemberFormer Member Posts: 1,876,323 The Mix Honorary Guru
    I was thinking since Europe is export dependant plus American tourist dependant it was time for interest rates to be lowered on the Euro and perhaps it's worth against the dollar would be lowered too. That's where I felt the Euro could be responsible for slow/no growth.
  • Former MemberFormer Member Posts: 1,876,323 The Mix Honorary Guru
    I assure you that Europe is not dependant on exports or on tourism o any substantial degree.......
  • Former MemberFormer Member Posts: 1,876,323 The Mix Honorary Guru
    They are t.b. Would you like an easy link. Only thing it's the CIA World fact book. :D
  • Former MemberFormer Member Posts: 1,876,323 The Mix Honorary Guru
    Please enlighten my ignorant brain................
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