Early day motion tabled by primary sponsor Ian Davidson (Labour and Co-operative Party), on Tuesday, 14 January 2003, in the House of Commons. It is signed by 28 members in total.

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PERFORMANCE OF THE EURO (NO.5)

That this House notes the announcement on 9th January from the German Federal Employment Office of the unemployment statistics for December, which show that unemployment has risen by 199,300 making the total number of unemployed 4,225,100; further notes that this is over a quarter of a million more than at the same time last year and takes the unemployment rate beyond 10 per cent. to 10.1 per cent. all these figures being before seasonal adjustments are made; further notes that the seasonally adjusted unemployment figure rose by 28,000 to 4,197,000; further notes that, using seasonally adjusted figures, unemployment has risen every month apart from one since the launch of euro notes and coins on 1st January 2002; believes that if Germany had the ability to set its own interest rate and public spending targets it would be in a much stronger position to tackle its key problems of near stagnation and unemployment; and further believes this shows, clearly and unequivocally, that the euro is not working.

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Secondary information

Type

Early day motion

Reference

514 

Session

2002-03

Subjects

Currencies Germany Economic and monetary union Euro Unemployment

Link

View this Early day motion on www.parliament.uk