EUROZONE AND UK INTEREST RATES

Early day motion 97, tabled 14 November 2002 by Kelvin Hopkins (Labour). Signed by 32 members.

That this House notes the recent report from Societe Generale which examined interest rates for Eurozone countries using a similar methodology in their research to that used to help determine the United Kingdom interest rate; notes further the report's conclusion that the interest rate for Germany should be 1.8 per cent. and that for Ireland 6.25 per cent. when the current interest rate for the whole Eurozone is 3.25 per cent.; considers that this is strong evidence that 'a one size fits all' interest rate can cause inflation in some Eurozone countries while increasing unemployment in others; and believes that Britain

Signatures by party: Labour 27, Labour/Co-operative 3, Conservative 1, DUP 1.