Eddie George warns on EMU suitability of France and Italy

Article Abstract:

The economic sustainability of the European single currency is being called into question by high levels of unemployment in some European Union countries, according to Bank of England governor Eddie George. He has particular doubts about whether Spain, France and Italy, which have high levels of unemployment, should qualify to join European Monetary Union (EMU). He believes that EMU could bring pressures for taxpayers in one country to subsidize others in order to balance out the effects of unemployment.

Economic aspects, George, Eddie, Speeches, lectures and essays

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Jobs crisis threatens plans for the single currency

Article Abstract:

There are growing fears that plans for European monetary union could be hampered by the increasingly high levels of unemployment in Europe. Those who support a single European currency are aware that it will be necessary to emphasize to ordinary people that a single currency will bring wealth and employment. However, monetary union involves strict regulations about government spending, and it will therefore be very difficult to invest more in job creation.

Unemployment, Europe

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Last-minute rush to get the euro into your pocket

Article Abstract:

The European Commission is putting growing pressure on European Union member states to establish by the end of 1997 the practical and legal basis for the introduction of the single European currency, the euro. It believes that governments should place considerable emphasis on public education campaigns, especially in the period May 1998 to Jan 1999. Before then, it will be necessary to work with consumer groups, bank tellers and retailers.

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