Europe may suffer UK's dilemma

Tuesday 30 June 1998 00:02 BST

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BRITAIN FACES an acute policy dilemma of whether to fit monetary policy to the needs of the booming service economy or recession-prone manufacturing. Hamish McRae argues that this will occur elsewhere in Europe too. As some European economies are still manufacturing-oriented and some service-oriented, this could become a serious issue for the new European Central Bank.

Hamish McRae, page 18

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