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The problems of Europe as a whole continue to give cause for concern. The difficulties of the euro are well charted, with the problems in Cyprus increasing as bank depositors remove their cash, having lost confidence in the system.

However, what worries me even more are the increasing figures for unemployment. Currently, in Spain this now stands at a level of 27 per cent, followed by Greece with 17.6 per cent.

Nine of the 27 member countries have double digit figures, with Hungary, France and Poland in the 9 per cent range.

This sends danger signals to Governments throughout Europe, for hardship and suffering can create unrest and riots. Already there are signs of frustration, particularly in Spain and Greece with rallies that border on the edge of violence.

Business in this country should be very concerned about the situation, for Europe as a whole is our biggest customer.

The original concept of European trade is just not happening, with huge distortions taking place, partly as a result of the implementation of the euro, which, contrary to original thinking is leading to continent wide hardship, not prosperity.

While austerity measures may be considered as the answer to national debt, politicians should be taking measures that will increase employment, which in turn will give rise to greater tax take. I wish our leaders would realise that idle hands can only lead to trouble.

Therefore as the IMF is already indicating, the British Government in particular should be taking steps to inflate the economy. It may well be that our deficit reduction plans will have to be put on hold for a period of time, but surely it is better to have people employed than wasting their lives on the dole.