PERFORMANCE OF THE EURO (4)

Motion Text

That this House notes a survey by Spanish newspaper El Pais, which compared prices for a basket of 60 goods; further notes that this survey showed that in December 2001, the basket cost euro 170.44 but that in December 2002 the same basket bought at the same supermarket cost euro 201.12, a rise of over 18 per cent.; further notes that fish and meat rose on average by over 30 per cent. and vegetables by nearly 25 per cent.; further notes a separate survey by the Spanish Ministry for Trade and Tourism which confirmed that significant price rises had taken place over the last year; and therefore believes that rampant inflation is not a price worth paying to join the euro.