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UK: ‘15% UK unemployment had we joined Euro’
The Centre for Economic and Business Research (CEBR) unveiled a report on Monday based upon its economic model, which forecast that had Britain joined the Eurozone, unemployment would now stand at 15%. The forecast showed that growth would have been slightly higher than it actually was from 1998 to 2006, but after 2006 the recession would have been deeper. In the three months to November 2009, the ILO unemployment total, a figure which can be compared internationally, fell for the first time in 18 months to reach 7.8%.