A wave of Manuels
THE LATEST Brown study takes in the European single currency. It won't work, Gordon Brown says, unless Europe tackles unemployment first. I would like to think that he has been studying at the feet of Eddie George, who (in the coded language required of a Governor of the Bank of Eng- land) has been saying that unemployment is Europe's biggest economic and social prob- lem, and that all a single currency could do about it is to make it worse. His textbook case is Spain, with the highest unemploy- ment rate in the developed world. Should Spain send a wave of Manuels across the Pyrenees in search of jobs as waiters? Should the rest of us subsidise the Manuels to stay at home? Or should Spain try to price them into work? The single currency forbids that. Get it, Gordon?
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