The Corner

State of The Eurozone

” The truth is that, despite its superior employment policies and regulatory environment (a legacy of the Thatcher and Major years) Britain remains well down the EU economic league table. “

EU Commissioner Patten, writing in the London Times, May 14th.

“THE eurozone is on the brink of recession, according to bleak new figures that underscore the diverging economic prospects of the UK and the Continent. On the day that Gordon Brown set June 9 as the publication date of his euro assessment, official statistics showed that Italy, Germany and the Netherlands all saw their economies contract in the first three months of the year. In the eurozone as a whole, growth ground to a halt. In Britain, by contrast, the outlook for growth is far brighter…”

London Times, May 16th.

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