Another reason why we shouldn't have joined the EEC and relied on Europe for our imports/exports. It was safer for us when we traded throughout the world. The EEC now pull the strings and we have no say in it!

Stone, Enger, Germany

Recession means they can't hold the euro's value internationally, equal interest rates for club med and northern E-zone will create economic disaster. How can they pretend the Euro is worth the same in Romania as in Luxembourg? Madness. The foolish euro may well collapse in a prolonged recession.

George Edwards, Beijing, China

Richard, we may do 60% of our trade with Eurozone, but we are in deficit as a result. We lose money on our trade with the e-zone, we would be in profit from the same trade amount outside the zone. Economically, we need the e-zone trade like a hole in the exchequer. It's not about trade but politics

George Edwards, Beijing, China

It was inevitable that there was going to be a significant slowdown in the Euroland economy. Better productivity and wage control are the solutions. For Britain, a move back towards an economy less depedent on the City, and houseprices and a return to export-driven quality manufacturing will help.

Paul, Carlow, Ireland

"The ECB kept rates on hold at 5.25 per cent last week..."
No, the ECB kept rates on hold at 4.25 per cent. Please get vital facts right or we won't have much faith in what you say.

Thomas Denne, Limanton, France

A global recession is coming. With the financial institutions around the world making losses eventually of well over US$1 Trillion and the value of western banks, insurers et al losing US$2.7 Trillion over the last 18 months, what more can you expect.

Dr D Hill
World Innovation Foundation Charity

david hill, huddersfield & Bern, uk & Swiss

Martin,reading thiscountry does not rely on house prices it relies on debt all £1.4 trillion of it to date.
those taps which gordon brown built his 'economic miracle' have been turned and to cut intrest rates would send inflation even higher than it is now.
Look at the currency markets yesterday.

robert, havant, uk

Cyprus has a 4% growth rate with a 5.6% inflation rate and is 100% dependent on oil. Now that's something. How do Cypriots do it when England hosts the biggest and elitest universities for financial subjects?

andreas andreou, Nottingham,

Suspending stamp duty will not achieve anything while those very same prospective buyers are refused a mortgage or any sort of loan.

Sally Wilton, Bournemouth, dorset

I trust no one takes comfort that Europe is teetering on recession. It is where 60% of our exports go! Think about it!

Richard, Plymouth,

Daquan, I agree with you as regards energy prices but it is also true that Germany, France and Italy are export-oriented economies. They all export more than Britain. And of course their bigger export market, aside from the rest of Europe, is the US. The strong euro has also its donwnsides.

Horace, Florence, Tuscany, Italy

Thankfully, the single currency appears to be cushioning the global economic crisis for the Eurozone nations. With oil priced in dollars, a strong Euro has kept energy prices relatively lower than elsewhere, taming raging inflation. The Euro was launched just in time, esp. for the smaller nations.

Daquan Quartermaine, Middelburg, Netherlands

Suspend the Stamp Duty and reduce fuel tax Mr Brown. Get the country back to work and restart the builders. You should know that in the UK everything revolves round the house prices.

Martin Smith, READING, ENGLAND

Our esteemed chancellor will love these figures. They will enable him to point out that we are still a world-class economy, whilst all around us are floundering in recession. If one measures 'world-class' by CDOs purchased by one's country's banks, we are way in the lead in Europe. Good, eh?

john problem, Hackney Wick, UK