XPost: england.politics.europe, soc.culture.europe, uk.politics.misc   
   From: dvh@vhvhvhvh.com   
      
   The European Commission's spring forecast is out. They don't believe the   
   euro will save the eurozone as we head into 2010. It won't deliver better   
   growth, employment, or wages compared to EU countries outside the eurozone.   
      
   Comparing eurozone figures over a seven year period with EU-27 figures shows   
   the eurozone is dragging the whole continent down.   
      
   So in good times and bad, the euro is providing no advantage.   
      
   The Commission predicts that after underperforming non-euro countries for   
   nearly a decade, eurozone GDP and unemployment will converge with the EU-27   
   this year and the next.   
      
   But then they would say that, wouldn't they?   
      
   You can be sure Commissioners' jobs are safe though. Do you ever get the   
   feeling they're taking the piss out of you?   
      
   Eurozone and EU growth 2003 to 2010   
      
   Column 1 - year   
   Column 2 - Eurozone growth   
   Column 3 - EU-27 growth   
      
   2003        0.8%        1.3%   
   2004        2.2%        2.5%   
   2005        1.7%        2.0%   
   2006        2.9%        3.1%   
   2007        2.7%        2.9%   
   2008        0.8%        0.9%   
   2009        -4.0%       -4.0%   
   2010        -0.1%       -0.1%   
      
   Unemployment   
      
   Column 1 - year   
   Column 2 - Eurozone unemployment   
   Column 3 - EU-27 unemployment   
      
   2007        7.5%        7.1%   
   2008        7.5%        7.0%   
   2009        9.9%        9.4%   
   2010        11.5%      10.9%   
      
   Meanwhile "Low economic activity and further employment losses should imply   
   a further decline in average wages in 2010."   
      
   What a dreadful state of affairs. The euro is an article of faith, backed by   
   no hard evidence of advantage. It provides jobs for thousands of clients   
   employed in the European Central Bank, and a Directorate of the European   
   Commission. But apart from that, it is dragging Europe down.   
      
   http://ec.europa.eu/economy_finance/publications/publication_sum   
   ary15046_en.htm   
      
   --- SoupGate-Win32 v1.05   
    * Origin: you cannot sedate... all the things you hate (1:229/2)