Germany and France echoed Britain’s Euro skepticism this weekend when they used a meeting of the G7 to request lower interest rates to boost growth.
The finance ministers of the Euro-zone's two biggest economies expressed anger at the bank's hard-line anti-inflation strategy, and expressed anger at their lack of control over the central bank’s decisions.
Mr Sarkozy, the French Finance minister said that though it was his job to deliver growth he “Could not do so when he had no control over the levers of growth. “The UK, Sweden and Denmark were clearly right not to join the Euro.” He told a conference. “It’s a nightmare and we never should have handed over sovereignty of economic control to an uncontrollable quango. That’s why unemployment in the UK, Denmark and Sweden averages 3% while everywhere else in the Euro-Zone it’s nudging 10%. Oh how I wish we’d listened.”
