Large green pound revaluation this week

Article Abstract:

CAP support prices are expected to be reduced in sterling value by 2.888% to a rate of 0.720883 pounds sterling per 1 ECU in June 1997, due to the uncertainties of Economic and Monetary Union following the election of socialists in the French general election. The per hectare aids of arable farmers in the UK would subsequently be reduced by 3.602% in 1997/98. Italian and UK farmers benefitted from the green rate in 1995 and early 1996, but UK farmers are disadvantaged by the strong sterling in June 1997. The green pound is not expected to be revalued again for some time.

Currency Stabilization Programs, United Kingdom, Economic aspects, Finance, Agricultural policy, Currency devaluation, Devaluation (Currency), Farmers, Currency stabilization, European Union. Common Agricultural Policy

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Promodes unveils pan-European euro survey

Article Abstract:

There is generally a positive attitude to the euro among consumers in Europe, according to research undertaken for French retail group Promodes by the Louis Harris institute in Spain, France, Portugal, Belgium and Italy. Some 61% of those questioned were in favour of the euro. However, there is less enthusiasm for the euro in France, where 55% of those questioned see it as a constraint. Some 59% of consumers feel that they lack sufficient information about the euro, with this being a particularly strong feeling in Portugal.

Intnl Economic Policy, International economic relations, European Monetary System, Public opinion

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