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Could a eurozone break-up help Britian?

Godfrey Bloom

12:01am 19th November 2011

Yorkshire MEP Godfrey Bloom's welcomed research suggesting Britain will be better off in five years time if the eurozone breaks up.

While experts from the Centre for Economics and Business Research accept it would initially cause a sharp economic shock this would be followed by a quicker return to strong economic growth.

"This research shows demise of the euro would not be anything like the disaster that has been argued and British exports would be boosted as currencies of strong countries gain in price." said Mr Bloom, UKIP Euro-MP for Yorkshire & North Lincolnshire.

"It is claimed by David Cameron that the failure of eurozone leaders to resolve the debt crisis is harming the economy and that the break-up of the single currency would be even more damaging. But this CEBR research shows the other side of the coin.

"Throwing money at a situation is often not the answer and we have certainly thrown away far too much in bail-outs to prop up struggling continental countries. Our politicians want us to believe that the eurozone must be preserved at all costs and member states cannot be allowed to make their way alone.

"This is wrong and it has always only ever been a matter of time before it collapses," said Mr Bloom.

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