Gingrich Plea to Britain: Avoid EU's "Huge Economic Gamble"

As the debate over Britain's currency and economic future with the European Union intensifies, prominent U.S. politician Newt Gingrich has sounded the alarm, warning Britain against scrapping the pound. In a bold proposal, Gingrich suggests that the UK would be better off pursuing a trade deal with America rather than the EU. He attributes the EU's approach to economic change as being in reverse order, as evidenced by America's own economic history.

Key Takeaways:

• Gingrich warns that the EU's economic gamble could lead to a series of crises that its political system might be incapable of resolving, citing high unemployment rates in France and Germany as examples.
• The U.S. politician emphasizes the importance of labor mobility, which allows for the creation of new jobs and economic growth, contrasting this with the EU's approach.
• Gingrich suggests that the average American child changes schools every three years, highlighting a level of personal and labor mobility unlike any other society on the planet.
• In a striking comparison, he notes that while the EU creates fewer jobs, the U.S. experiences net job creation, with 350,000 new jobs created every week compared to 300,000 jobs lost.
• Gingrich implies that if European leaders fail to address their economic issues, it could lead to intensified conflict within European society.

Statistics:

• Unemployment rates in France and Germany: 12-13%
• One-quarter of young people (under 30) in some European countries are jobless
• Net job creation in the U.S. in November and December of 1997: more jobs created than in Europe over the past 10 years
• Average number of jobs created per week in the U.S.: 350,000
• Average number of jobs lost per week in the U.S.: 300,000

Sources:

• Chicago newspaper (variable date)
• Newt Gingrich (Speaker of the U.S. House of Representatives)