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9/27/05

Bloomberg.com: EU's Mandelson Says U.K. Politicians Sabotaged Case for Euro

Bloomberg.com

EU's Mandelson Says U.K. Politicians Sabotaged Case for Euro

European Commissioner Peter Mandelson said U.K. government leaders have sabotaged the case for adopting the euro by suggesting the region's economy is a ``basket case'' holding back growth in Britain. Speaking to leaders of the U.K.'s ruling Labour Party in Brighton, England, Mandelson said there would never be a ``perfect'' time to push for using Europe's common currency and the government needs to make the political case more strongly. ``People have come to see Europe as a drag-anchor,'' Mandelson said today. The allegation ``has been peddled, or more politely, made, by some in the British government.''

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