Posted 4:36 PM by Dil
Euro housing issue ‘not as bad’ as Brown suggests
13 June 2003 08:57

The Ernst & Young Item club says Britain's housing market is less of an impediment to membership of the euro than chancellor Gordon Brown has suggested.

The overall economic effects of even a substantial fall in house prices would be surprisingly small, it says
Its report echoes a National Institute of Economic and Social Research study which accuses Brown of underestimating the gains from the single currency.

Financial Times 13/06/03 page 5, The Guardian 13/06/03 page 24, The Independent 13/06/03 page 20